The amount of a good that must be given up to produce another good is the concept of:
A. scarcity.
B. specialization.
C. opportunity cost.
D. efficiency.
Answer: C
Economics
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Economics
For a good to be nonrival, then
A) one person's consumption of that good does not decrease another person's consumption of that good. B) a person cannot be prevented from consuming that good even if he or she did not pay for it. C) a person is willing to pay any price to ensure that the product is available. D) a person is not willing to pay for the good because even without paying for it, the person can consume the good anyway.
Economics