Opportunity Costs Arise Due to

question 38

Multiple Choice

Opportunity costs arise due to

• A)Resource scarcity
• B)Interest rates
• C)Limited wants
• D)Preferences

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Definitions:

Position

A specific location or arrangement in space that an object or entity occupies at any given time.

Location

The specific place or position where something exists or is situated.

Cutaneous Sensations

Sensory experiences originated in the skin, including touch, pressure, heat, cold, and pain.

Conscious Perception

The awareness or understanding of sensory information by the mind, allowing for interaction with and interpretation of the environment.