The Fact That a Higher Standard of Living Tomorrow Can

question 2

Multiple Choice

The fact that a higher standard of living tomorrow can only be achieved by sacrificing consumption today is an illustration of the

• A) principle of comparative advantage.
• B) principle of increasing opportunity costs.
• C) scarcity principle.
• D) equilibrium principle.
• E) cost-benefit principlE.

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Definitions:

Genetic Modification

The manipulation of an organism's genes using biotechnology, often to enhance or introduce specific traits not naturally occurring in the organism.

Herbicide-Resistant

Refers to plants that have developed the ability to survive applications of herbicides meant to kill them.

Fertilizer

A chemical or natural substance added to soil or land to increase its fertility and promote plant growth.

Cropland

Land that is used for or suitable for the cultivation of crops for agriculture.