Please help me ASAP
Scarcity, Opportunity Costs and Tradeoffs: How We Make Choices Part I: Briey summarize one ofthefoiiowing videos. Scarci ' Choice ortuni ' Cost. \"'11 ' successful women tend to es one marria e glans. (She has an accent, so she magiF he a little hard to follow!) Search; and Opportunity Cost Opportunity: cost Poi-III: For thefoiimring muihpie choice questions, highiighr the correct amen 1. Scarcity is a. when there is not enough of a particular good for everyone who wants it. h. trying to get as much output as possible with current resources. c. unlimited wants and limited resources that forces us to make choices. d. not a problem in today's technological world. 2. The statement that \"mere is no suoh thing as a free lunch" means that a. m choice has an opportunity cost. b. we can never have everything we want. c. economic behavior is not rational. d. we don't know what goods to produce. 3. You should decide to go to a movie if a. me costs outweigh the benets. b. e benets outweigh the costs. c. you have enough money to bu},r a ticket. d. you really want to see the movie. 4. Susie has to choose between playing soball or babysitting. If she chooses to play softball, her opportunity cost is a. getting hurt playing softball. b. not spending time with her teammates. c. the money she could have earned babysitting. d. not having time to do homework. Purim: Complete the cost-benet analysis. Suppose that Abigail needs 20 minutes inthe morning to shower and goom, and 21] minutes to get dressed and get breakfast. Her breakfast choices are a multi-grain cereal or a lard-laden doughnut. She can either take 1he bus or walk to school. The bus takes an hour because of all the stops it has to make, and gets her there 5 minutes before school starts. Walking will take 31] minutes. (School hours are 94, and she has a full schedule.)l After school, Abigail has a chance to work for Mr. Smith for 2 hours at a rate of $1fhr. aer taxes. (She would have to work both hours.)l She needs to prepare for three (3) tests the following day: Economics= Science and IvIath. The following mid represents time spent and the grade she can expect to get. The amount of time is per class= not all classes combined! If you were Abigail, what decisions would you make? For each of the following., state your decision, the benets and the costs. {Please use a di'erent color for your answers!) A} "What time to get up B} Whether or not to shower C} What to eat for breakfast D} Whether to take 1hr: bus or walk E} Whe'lher or not to work for Mr. Smil F} How much time to study for each subject G) Will eyeiyone make the same choice when faced with this situation? 'Nhy or why Not
