Because of scarcity, _____.
A)we must sacrifice valuable alternatives to obtain more of the goods and services we desire
B)the opportunity cost of consumption is zero
C)we can obtain more of a desirable good without sacrificing other goods and services
D)society wants a proportion of its population to remain poor
E)the opportunity cost of production is zero

Question

Quizplus · Accepted Answer

Scarcity means that resources are limited, so we must make choices about how to allocate them. This means we must give up one thing to get another. Therefore, we must sacrifice valuable alternatives (the opportunity cost) to obtain more of the goods and services we desire.

Because of Scarcity, _____