Which of the following involves a trade – off ?

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...

Raising taxes and increasing welfare payments ?

A. reduces market power B. Proves that there is such a thing as a free lunch C. improves efficiency at the expense of equity. D. improves equity at the expense of efficiency....

Data are important in economics because _________ and ____________?

A. they suggest relationships for explanation, allow testing of hypotheses B. they can be used for tables, they can be graphed C. they can be used in computers governments use them D. they provide interesting information can be summarized...

In a free market system, the amount of goods and services that any one household gets depends upon its ?

A. income B. income and wealth C. wealth D. wage and interest income...

Economics is the study of ?

A. Production technology B. Consumption decisions C. how society decides what how and for whom to produce D. the best way to run society...