zuberzinabu zuberzinabu

09-08-2021
Social Studies

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Define scarcity, Choice, and opportunity cost?

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itzsplendidfellow itzsplendidfellow

09-08-2021

Whenever a choice is made, something is given up. The opportunity cost of a choice is the value of the best alternative given up. Scarcity is the condition of not being able to have all of the goods and services one wants.

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