Which of the Following Statements Is True

question 416

Multiple Choice

Which of the following statements is true?

• A) Anytime you have to decide which action to take you are experiencing economic equity.
• B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale.
• C) Every individual, no matter how rich or poor, is faced with making trade-offs.
• D) Economics is a social science that studies the trade-offs we are forced to make because resources are unlimited.

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Definitions:

Redundancy

The duplication of critical components or functions of a system with the intention of increasing reliability of the system, ensuring availability.

State-Mandated

Regulations or requirements imposed by state authorities.

Core College Preparatory Curriculum (CCPC)

The Core College Preparatory Curriculum (CCPC) is a set of high school courses designed to prepare students for successful entry into college, focusing on fundamental academic subjects.

Component Reliability

The likelihood of a component to perform its required function under stated conditions for a specified period.