Which of the Following Is Not an Example of an Economic

question 173

Multiple Choice

Which of the following is not an example of an economic trade-off that a firm has to make?

• A) whether it is cheaper to produce with more machines or with more workers
• B) whether it is to outsource the production of a good or service
• C) whether or not consumers will buy its products
• D) whether it should produce more of its product

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Definitions:

Courage to Take Risks

The bravery to engage in actions or decisions that involve uncertainty or potential for failure.

Entrepreneurship

The act of creating, designing, and running a new business, often characterized by innovation and risk-taking.

Positive Reinforcement

A technique used to encourage desired behaviors by offering rewards or positive outcomes when those behaviors are exhibited.

Desired Behavior

The specific actions or conduct that an entity, such as an organization, seeks to encourage or reinforce among its members.