The Need to Make Choices Is Most Closely Related to the Economic

question 121

Multiple Choice

The need to make choices is most closely related to the economic concept of

• A) opportunity cost.
• B) efficiency.
• C) inefficiency.
• D) utility.
• E) disutility.

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Definitions:

Obverse

The proposition that results from changing the quality of a categorical proposition and replacing the predicate term with its complement.

Contrapositive

The proposition that results from replacing the subject term in a categorical proposition with the complement of the predicate and the predicate with the complement of the subject.

Referents

Objects, events, or entities in the real world to which words or symbols refer or correspond, in the context of language and communication.

Quantity

A characteristic that describes the numerical aspect of something, including size, amount, or number.