The Idea That Because of Scarcity, Producing More of One

question 70

Multiple Choice

The idea that because of scarcity, producing more of one good or service means producing less of another good or service refers to the economic concept of

• A)optimization.
• B)efficiency.
• C)trade-off.
• D)equity.

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Definitions:

Motives

Internal states or desires that drive individuals to take actions towards achieving specific goals.

Subconscious

A part of the mind that influences thoughts and actions without one's full awareness.

Psychosexual Energy

in Freudian psychoanalysis, the driving force behind human behavior, stemming from the libido or sexual energy.

Libido

A term used in psychoanalytic theory to denote the energy associated with sexual instincts and drives.