Whenever a choice is made:

Whenever a choice is made:

Question 9 of 10

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10.0 Points

Whenever a choice is made:

A. the value of all the other choices that could have been made is called opportunity cost.

B. normative economics is encountered.

C. the problem of “all other things unchanged” results.

D. the opportunity cost of that choice is value of the next best alternative

Question 10 of 10

10.0 Points

Economics is different from other social sciences because it gives special emphasis to the study of ______; it is similar to other social sciences because they are all concerned with the study of _______.

A. unlimited resources; economic systems

B. human interactions; limited resources

C. opportunity costs; choices

D. social behavior; scarcity

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