Whenever a Choice Is Made

question 176

Multiple Choice

Whenever a choice is made:

• A)the cost of that choice is opportunity cost.
• B)the cost is easy to measure in dollar terms.
• C)efficiency is improved.
• D)scarcity is not the problem.

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Definitions:

Civil War

An internal conflict within a country between different groups or regions, often over issues of governance, territory, or cultural identity.

National Output

The total value of all goods and services produced by a country over a specific period, often measured as Gross Domestic Product (GDP).

Automobile Industry

A global sector that involves the design, manufacture, marketing, and sale of motor vehicles, often considered a major driver of economic activity.

Mass Production

The manufacture of large quantities of standardized products, often using assembly lines or automated technology.