Resources and Scarcity Answers

received given up replaced

give up gain replace

products purchases choices

30 60✔ 90

Y X A

What could happen as a result of the effects of the opportunity cost on the left? Check all that apply.

120 180 240

CD X

30 6090

Opportunity cost is what must bein order tosomething else.

Opportunity cost is what must bein order tosomething else.

Opportunity cost forces consumers and producers to make.

Which statements demonstrate the meaning of opportunity cost for producers and consumers? Check all that apply.If producers can only produce one item, they must decide which item to produce based on profit.Consumers are limited by their resources, and must give up the chance to purchase one item in order to buy another.Consumers and producers are not limited by scarcity of resources or time. When deciding to produce or purchase one item, another opportunity must be given up.The only factor influencing opportunity cost is personal opinion.

A)

B)

C)

At what point is Raj not using all of his resources?

At what point would Raj be using more than his available resources?