need some help with the problems.
1. Scarcity exists when: a. individuals can have more at one good but only at the expense of another. 0-. individuals can have more oi any good. c. resources are unlimited. (1. making choices among two or more alternatives is not necessary. 2. When a chef creates a dinner plate of food for a customer, which of the following represents the physical capital resource? a. the food ing redients I). the Chef himself or herself c. the chef's training and expen'ence d. the oven 3. Margo spends $5000 on one year's tuition. The opportunity cost of spending one year in university for Margo is: a. whatever she would have purchased with the $5000 and whatever she would have earned had she not been in university. b. whatever she would have earned had she not been in university. c. whatever she would have purchased with the $5000 instead. (1. $5000. 4. You have $1 to spend on a vending machine snack. A bag of chips will cost you $1 and the candy bar will also cost you 51. If you choose the bag of chips, the opportunity cost of buying the chips is: a. the enjoyment you would have received trorn the candy bar. 0. $1 plus the enjoyment you would have received from the candy bar. c. $1. 0. 32 minus the enjoyment you received from the bag at chips. 5. You decide whetherto eat one more slice of pizza based on how hungry you feel. This statement best represents this economic concept: a. the real cost of something is what you must give up to get it. b. \"How much\" is a decision at the margin. c. resources are scarce. 0. there are gains from trade. 6. Corner ofces in highrise o'lce buildings usually cost more to rent than other ofces. This best illustrates the economic principle of. 3. resources being used as eiciently as possible to achieve society's goals. b. opportunity costs. c. marginal analysis. d. scarce resources. T. Alter swimming 100 laps at the pool, Erik decides to swim to more before lilting weights. This statement best represents this economic concept: a. Resources are scarce. b. The real cost at something is what you must give up to get it. c. There are gains from trade. d. \"How much\" is a decision at the margin. 8. Quebec schools offered cash bonuses to students who score high on the endol year provincial examinations. The cash bonuses are an example of which of the following basic economic principles? a. People usually take advantage of opportunities to make themselves better o. b. The real cost of something is what you must give up to get it. c. There are gains from trade. d. Resources are scarce. 9. Economists say an economy is efcient when: a. all opportunities to make some people worse off without making other people better on have been taken. b. output is distributed equitably. c. all opportunities to make some people better on without making other people worse olT have been taken. d. the problem ol scarcity is eliminated. 10. When individuals act in their own self-interest: a. equity is ahivays achieved. b. emciency is always achieved. c. all opportunities have been taken to make some people better o without making other people worse off. (1. society may be worse on in some case
