Which of the following forces us to make choices?


Scarcity

Trade-offs

Opportunity cost

Money


Question 2 (Multiple Choice Worth 3 points)


You can either go to a movie or go bowling. If you choose the movie,


you will spend far more on the movie then you would on bowling

you will have made the choice that has the most benefit

your opportunity cost is the amount of money you pay for the movie

your opportunity cost is the time and experience of bowling


Question 3 (Multiple Choice Worth 3 points)


Another way to say that something is scarce is to say that it is


plentiful

rare

useful

great


Question 4 (Multiple Choice Worth 3 points)


If the demand for skateboards decreases, you can expect the price of skateboards to


increase

triple

not change

decrease


Question 5 (Multiple Choice