0. Basic Principles of Economics

Because of differences in opportunity costs, individuals and businesses:

Other things equal, which of the following best explains why scarcity forces individuals to make choices?

Which statement about scarcity is true?

Why are resources for consumer consumption considered limited in economics?

Which term in economics best describes the limited nature of society's resources?

The opportunity cost of producing a good or a service can be found by:

Which of the following statements about scarcity is true?

The phenomenon of scarcity stems from the fact that:

Which of the following best describes scarcity in economics?

Which of the following best describes the opportunity cost of not going to college?

As a consequence of the problem of scarcity, which of the following must individuals and societies do?

Attending college is a case where the ________________ exceeds the monetary cost.

Opportunity cost occurs because of a producer's need to:

Which of the following factors has the largest impact on opportunity cost?

Which of the following is a direct result of overpopulation in the context of scarcity and choice?