`Briefly Define Scarcity, Choice, and Opportunity Cost and Explain Carefully

question 104

Essay

`Briefly define scarcity, choice, and opportunity cost and explain carefully how they are related and why they are so essential in the study of economics.

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Definitions:

Peripheral Nervous System

The part of the nervous system that consists of the nerves and ganglia outside of the brain and spinal cord.

Voluntary Muscles

Muscles that are under conscious control, allowing movements such as walking, talking, and writing.

Skeletal

Pertaining to the framework of bones that supports the body, protects organs, and enables movement.

Autonomic Nervous System

The part of the nervous system responsible for control of the bodily functions not consciously directed, such as breathing, the heartbeat, and digestive processes.