Multiple Choice
Which statement best explains the tradeoff between today's consumption and future consumption?
45
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0. Basic Principles of Economics
Scarcity and Choice
Back0. Basic Principles of Economics
Scarcity and Choice
- Multiple ChoiceFundamentally, economics deals with which of the following concepts?55views
- Multiple ChoiceWhich of the following is true about scarcity?50views
- Multiple ChoiceWhich of the following is an example of an opportunity cost?37views
- Multiple ChoiceWhich situation best illustrates the concept of scarcity?36views
- Multiple ChoiceWhich of the following is a good example of a tradeoff?71views
- Multiple ChoiceWhat gives commodity money its value?46views
- Multiple ChoiceWhich of the following best explains the relationship between implicit costs, explicit costs, and opportunity costs?43views
- Multiple ChoiceWhich situation is the best example of opportunity cost?47views
- Multiple ChoiceWhen you spend \$25 on a new insulated water bottle, what is the opportunity cost of this decision?43views
- Multiple ChoiceA basic concept in economics is that all resources are:65views
- Multiple ChoiceA resource has value, and people are willing to pay for it most likely because the resource is:46views
- Multiple ChoiceWhich of the following are examples of limited resources for consumers?58views
- Multiple ChoiceWhich of the following best describes the opportunity cost of going to college?63views
- Multiple ChoiceWhich of the following contributes to the economic problem of scarcity?38views