ECONOMICS
CONSUMERS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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You were thinking of buying either a CD or a goldfish with a fishbowl.You decided to buy the fish. What do you call the CD?
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your demand
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your economic choice
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your profit
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your opportunity cost
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Explanation:
Detailed explanation-1: -The correct answer is the Value of the next best alternative that is given up. It is defined as the cost of the next best alternative foregone.
Detailed explanation-2: -scarcity. The problem of determining what goods and services society should produce: exists because there are not enough resources to provide all of the goods and services that people want to purchase.
There is 1 question to complete.