Economic Question?

Karen goes to the store and decides to buy jeans instead of a t-shirt. The t-shirt is an example of:

a. supply and demand.
b. trade-off.
c. scarcity.
d. opportunity cost.

Answer:
The previous answer by Loveme18 couldn't be more wrong, it doesn't even make any sense why this would be scarcity (c).
The correct answer is D. The t-shirt is an opportunity cost of purchasing the jeans. The opportunity cost is a t-shirt because it is the item that must be given up (the next best alternative) that could have been chosen if the jeans were not chosen.
c
d. opportunity cost

The answers post by the user, for information only, FunQA.com does not guarantee the right.



More Questions and Answers:
  • Please define the following...?
  • How would contractionary monetary policy affect equilibrium aggregate in the short run?
  • Who sang the dollar and the dealer?
  • How does business build a sustainable world&economy...if its god is profit...and dog eat dog, is its ethos?
  • Does god exist?
  • Substitutes example in economics in detail?
  • What are economic exchanges that take place between business firms and the government.?
  • With all its industry and natural resources, how much is Canada worth?
  • What is inflation?
  • Do you know that one?