Economy, asked by njoki2661, 8 months ago

Explain the link between scarcity and opportunity cost

Answers

Answered by HeroicGRANDmaster
2

Explanation:

Scarcity — The condition that exists when there are not enough resources to satisfy all the wants of individuals or society. Choices — The decisions individuals and society make about the use of scarce resources.

Opportunity Costs — The next highest valued alternative that is given up when a choice is made.

Answered by nabodhkumar712
2

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