Asked by
James Arnold
on Oct 27, 2024Verified
Nara has gone to three movies this week.She has some extra money,so she decides to go to another.Which economic principle does this statement BEST represent?
A) Choices are necessary because resources are scarce.
B) The true cost of something is its opportunity cost.
C) "How much" is a decision at the margin.
D) There are gains from trade.
Economic Principle
A widely accepted theory or law that underpins the analysis of economic behaviors and decision-making.
Extra Money
Additional funds or income that surpasses one's regular or expected amount, possibly available for discretionary spending or saving.
Movies
Filmed entertainment viewed by audiences in theaters or through various digital platforms, encompassing a wide range of genres and styles.
- Comprehend the vital role of marginal analysis in the process of making economic choices.
Verified Answer
CF
Learning Objectives
- Comprehend the vital role of marginal analysis in the process of making economic choices.