Opportunity Cost Exists Because

question 22

Multiple Choice

Opportunity cost exists because

• A)technology is fixed at any point in time
• B)the law of comparative advantage is working
• C)resources are scarce but wants are unlimited
• D)the value of lost opportunities varies from person to person
• E)efficiency is measured by the monetary cost of an activity

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Definitions:

Situation Comedies

A genre of comedy television programs that revolve around a fixed set of characters in a relatively consistent setting, often focusing on humorous situations.

Moral Lesson

A fundamental principle or ethical instruction derived from a story, experience, or event intended to guide one's moral conduct.

Prosocially

Acting in a way that is beneficial to others or society as a whole.

Piliavin

A reference to Irving Piliavin, a social psychologist known for his research on prosocial behavior, including the bystander effect.