The need to make choices is most closely related to the economic concept of
A) opportunity cost.
B) efficiency.
C) inefficiency.
D) utility.
E) disutility.
A
Economics
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When external costs are present and the government imposes a tax equal to the marginal external cost, then
A) efficiency can be achieved. B) transaction costs will be high. C) the marginal benefit of the external cost will fall. D) property rights must have already been established.
Economics
What occurred during the Free Banking Era?
a. Currency varied widely from state to state. b. Repaying of loans was not closely monitored. c. The Second Bank of the United States was established. d. The dollar bill was introduced.
Economics