Opportunity Cost Exists Because

question 322

Multiple Choice

Opportunity cost exists because

• A)of scarcity.
• B)prices must adjust to eliminate shortages.
• C)production could not occur without the opportunity cost of using resources.
• D)the value of economic goods is positive while the value of goods is zero.

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Definitions:

Retested

The process of administering a test or assessment for a second time to measure changes in performance or condition.

Spatial Ability

The capacity to understand, reason, and remember the spatial relations among objects or space.

Cross-Sectional Study

A research method that analyzes data from a population, or a representative subset, at a specific point in time.

Spatial Abilities Test

An assessment that measures the capacity to manipulate and understand the spatial relations among objects or space.