Answer:
1. the state of being scarce or in short supply; shortage
2. a balance achieved between two desirable but incompatible features; a compromise.
3.The opportunity cost of farming, is farmers can grow crops and sell them to farmers markets and make money.
4. Production possibilities are all the combinations of goods and services that can be produced from a fixed amount of resources in a given period of time.
5. An opportunity is every time we make a choice, we give up an opportunity to do something else.
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