Opportunity cost is_________________?

Related Mcqs:

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

A. Alternative B. Opportunity cost C. Consumer cost D. Producer cost...

In a planned or command economy, all the economics decisions are taken by the ?

A. Consumers B. voters C. government D. Workers...

In a free market?

A. government intervenes B. government plan production C. government interferes D. Prices adjust to reconcile scarcity and desires...

Microeconomics is not concerned with the behavior of ?

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

Which of the following statements is true about a market economy ?

A. With a large enough computer, central planners could guide production more efficiently than markets. B. Market participants act as if guided by an invisible hand to produce outcomes that maximize social welfare C. The strength of a market system is that it tends to distribute resources evenly across consumers. D. Taxes help prices communicate … Which of the following statements is true about a market economy ?Read More...