The reason that opportunity costs arise is that

A) an economy relies on money to facilitate exchange of goods and services.
B) resources are scarce.
C) there are no alternative decisions that could be made.
D) people have limited wants.

Question

Manmeet singh · Accepted Answer

Final Answer : B, Explanation :  Opportunity costs arise because resources are limited, which forces individuals and societies to make choices about how to allocate those resources most effectively. When one option is chosen, the potential benefit of the next best alternative is the opportunity cost.

The reason that opportunity costs arise is that

A) an economy relies on money to facilitate exchange of goods and services.
B) resources are scarce.
C) there are no alternative decisions that could be made.
D) people have limited wants.

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Learning Objectives

Related questions

The reason that opportunity costs arise is thatA) an economy relies on money to facilitate exchange of goods and services.B) resources are scarce.C) there are no alternative decisions that could be made.D) people have limited wants.

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Learning Objectives

Learning Objectives

Related questions

The reason that opportunity costs arise is that

A) an economy relies on money to facilitate exchange of goods and services.
B) resources are scarce.
C) there are no alternative decisions that could be made.
D) people have limited wants.