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1 Most real-world choices aren't about getting all of one thing or another, instead, most choices involve _________________, which involves comparing the benefits and costs
1 Most real-world choices aren't about getting all of one thing or another, instead, most choices involve _________________, which involves comparing the benefits and costs of choosing a little more or a little less of a good. A. marginal analysis B. opportunity cost C. utility D. benefit analysis 1 points QUESTION 2 Scarcity implies that: A. consumers would be willing to purchase the same quantity of a good at a higher price. B. consumers are too poor to afford the goods and services available. C. it is impossible to completely fulfill the unlimited human desire for goods and services with the limited resources available. D. at the current market price, consumers are willing to purchase more of a good than suppliers are willing to produce. 1 points QUESTION 3 Philosophers draw a distinction between positive statements, which describe the world as it is, and ___________________s, which describe how the world should be. A. normative statement B. budget constraint C. trade-off D. opportunity cost 1 points QUESTION 4 Possibility A Economics History I 94 76 II 87 84 III 77 91 Refer to able above. A student has only a few hours to prepare for two different exams tomorrow
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