When You Declare a Variable in the for Clause, the Variable

question 5

Multiple Choice

When you declare a variable in the For clause, the variable has ____ scope and can be used only within the For...Next loop.

• A) program
• B) block
• C) solution
• D) method

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Definitions:

Opportunity Cost

Missing out on potential gains from other choices upon selecting one option.

Leisure

Free time when an individual is not engaged in work or essential activities, often used for relaxation, hobbies, or cultural and artistic pursuits.

Income Effect

Refers to the change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.

Substitution Effect

The change in demand for a good or service caused by a change in its price, leading consumers to substitute it with other goods or services.