Explain how each concept-scarcity,choice,and opportunity cost-relate to your dilemma.Use three separate statements in your response,one for each concept.

Time and money are scarce,so Obviously I can’t choose to go to both type of college classes in the money issue does heavily lean me towards community College.Ultimately,I have to make The chores and first I need to realize the cost and benefits of the decision made the opportunity cost of attending community college would be the loss attending the university right away

Question

23-08-2022
Social Studies

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Explain how each concept-scarcity,choice,and opportunity cost-relate to your dilemma.Use three separate statements in your response,one for each concept.

Time and money are scarce,so Obviously I can’t choose to go to both type of college classes in the money issue does heavily lean me towards community College.Ultimately,I have to make The chores and first I need to realize the cost and benefits of the decision made the opportunity cost of attending community college would be the loss attending the university right away

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Martebi Martebi · Answer 1 · 2022-08-26T13:43:19+02:00

The concept of scarcity, choice and opportunity cost that is linked to my school dilemma is that goods is scarce if my choice of one alternative need that another to be given up.

The existence of alternative is known to be one that forces us to make any kind of choices. The opportunity cost of any choice is seen to be value of the best alternative that has been forgone in creating it.

How scarcity choice and opportunity cost are related to economic problems?

Due to the fact that human resources are scarce, the opportunity cost of any form of investment in capital is said to be the forgone present consumption.

Hence, it is often used efficiently. In course of economic recessions, industrial plants are known to often run at lower than their total capacity.

Hence, The concept of scarcity, choice and opportunity cost that is linked to my school dilemma is that goods is scarce if my choice of one alternative need that another to be given up.

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