Whenever a Choice Is Made

question 143

Multiple Choice

Whenever a choice is made:

• A) the value of all the other choices that could have been made is called opportunity cost.
• B) normative economics is encountered.
• C) the problem of "all other things unchanged" results.
• D) the opportunity cost of that choice is the highest-valued other choice that could have been made.

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Definitions:

Children

Young human beings below the age of puberty or below the legal age of majority.

Failure

The inability to achieve a desired result or perform up to standard, often viewed as an opportunity for learning and growth.

Empty Nest

A transitional time of parenting when the youngest child leaves home.

Ethnicity

A socially defined category based on common language, religion, nationality, history, or another cultural factor, distinct from the concept of race.