The sacrifice involved when you choose a particular course of action is called the ?

Related Mcqs:

In a command (planned) economy ?

A. The price mechanism acts as an incentive B. Resources are allocated by market forces C. Individual firms make decisions for themselves about what to produce and how to produce it D. The public sector is large...

Productivity can be increased by ?

A. improving the education of workers B. raising union wages. C. raising minimum wages. D. restricting trade with foreign countries....

The economics the central problem is ?

A. Scarcity B. Money C. Consumption D. Allocation...

Microeconomics is not concerned with the behavior of ?

A. aggregate demand B. firms C. Consumers D. industries....

An increase in the price of beef providers information which ?

A. provides no information because prices in a market system are managed by planning boards. B. tells consumers to buy less pork C. tells producers to produce more beef. D. tells consumers to buy more beef....