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Tiara Ojeda-Benson
on Oct 27, 2024

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We have to make choices because:

A) we have unlimited income.
B) resources are scarce.
C) resources are infinite.
D) with good planning,trade-offs can be avoided.

Scarcity

A situation where limited resources are insufficient to satisfy all wants and needs.

Unlimited Income

A theoretical concept indicating there is no upper limit to an individual's or entity's income.

  • Acknowledge the critical role that choosing amidst resource scarcity plays in determining the opportunity cost.
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Sashaiee BearrOct 29, 2024
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