You Notice That When a New Yoga Class Is Offered

question 155

Multiple Choice

You notice that when a new yoga class is offered at the student recreation centre at a highly desirable time,some students from the other yoga classes go to the new class instead.Which economic principle does this statement BEST represent?

• A) Choices are necessary because resources are scarce.
• B) The true cost of something is its opportunity cost.
• C) People usually respond to incentives,exploiting opportunities to make themselves better off.
• D) "How much" is a decision at the margin.

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Definitions:

Beyond

not a specific medical or scientific term, generally meaning farther or outside the range.

Excessive

Used to describe something that is more than necessary, reasonable, or permissible; overly abundant.

Adhesion

The process of sticking or the state of being stuck together, often referring to internal tissues clumping together abnormally.

Syn-

A prefix in medical terminology meaning "with," "together," or "joined"; used in words to indicate a union or a significant relationship.