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.

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Merchant Class

A social class comprised of individuals engaged in commercial trade, historically significant in the development of market economies and urban societies.

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