VIII. A zero-based budget clearly illustrates that spending more on one item means having less for other items.This reflects the concept of:

a. Comparative advantage

b. Opportunity costs

c. Total costs

d. Deficit spending

A person's comparative advantage is based on

a. comparative abilities.

b. absolute abilities.

c. all those activities that a person can do better than most.

d. only those abilities where a person is clearly better than everyone else.

Higher expected incomes and greater wealth are associated with self-employment primarily because

a. persons who are self-employed can pay themselves higher salaries.

b. self-employment involves greater risk and therefore the market rewards are higher.

c. employers generally do not pay their employees enough for their services.

d. there are fewer risks associated with self-employment.