When the Government Chooses to Use Resources to Build Tourist

question 247

Multiple Choice

When the government chooses to use resources to build tourist centers,the chosen resources are no longer available to build highways.This BEST illustrates the concept of:

• A) macroeconomics.
• B) scarcity.
• C) opportunity cost.
• D) efficiency.

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Definitions:

Patent

A legal right granted to an inventor, providing exclusive commercial rights to an invention for a certain period.

C Corporations

A type of corporate structure where the business is taxed separately from its owners, offering limited liability protection to its shareholders.

Tax Advantages

Financial benefits derived from tax laws, which reduce the tax liability of an individual or business.

Limited-Liability

This is a legal status that prevents a company's shareholders from being personally liable for the company's debts or liabilities beyond their investment in the company.