Gwen's Decision to Buy a New Television Instead of a Bicycle

question 17

Multiple Choice

Gwen's decision to buy a new television instead of a bicycle for the same price

• A)means that opportunity cost is zero since both cost the same amount.
• B)would not have involved trade-off and opportunity cost if Gwen had decided to put the money in a bank CD instead.
• C)would not imply a trade-off because of scarcity if Gwen were a multimillionaire.
• D)means that the opportunity cost to Gwen is the bicycle that she has given up.

---

Definitions:

Erik Erikson

Erik Erikson was a developmental psychologist known for his theory on psychosocial development, which outlines eight stages of human development across the lifespan.

Developmental Challenge

A task or situation that requires adaptation or growth in one or more areas of development, such as cognitive, physical, or social-emotional.

Easy Babies

Babies who have a positive disposition; their body functions operate regularly, and they are adaptable.

Thomas and Chess

Psychologists known for their research on temperament, categorizing children's behavior across nine dimensions to describe their personality.