Economics is the study of how people use scare resources to satisfy unlimited wants.At the core of economics is the study of how people use scare resources to satisfy unlimited wants.At the core of economics we get the idea that our world is a place plagued with scarcity,that is we do not have all the resources we want.As a result we must make choices.When we mke a choice that choice necessary means that we have to give up some thing.Some thing we give up is called oppurtunity cost.
In the question 13 the scarcity was that their is only same availability of labors and other materials.Choice was that weather to produce cars or sport utility vehicles.the company want to give up either cars or sports utility vehicles.It was the opppurunity cost.
In the question 14 the young man forces to leave the job for going collage.It was the scarcity there.His choice was that either he can continue his job or have to go collage.The young man leaving his job in order to go to collage.It was his oppurtunity cost.
plz solve question 14 thank u The Environmental Protection Agency is considering an order that a...
plz solve these question 10 When the attitude changes from 1.000 to 1.500 the air density changes from. 831 to 678. The is a relationship between attitude and air density 11. Solve for x in the following equation: -18 +4(6-2): 12. Identify the elements of scarcity, choice, and opportunity cost in each of the following The Environmental Protection Agency is considering an order that a 500 acre area on the outskirts of a large city be preserved in its natural...