Reference no: EM132990244

Problem 1: The reason that opportunity costs arise is that

Select one:

a. there are no alternative decisions that could be made.

b. people have unlimited wants.

c. resources are scarce.

d. an economy relies on money to facilitate exchange of goods and services.

Problem 2: Which of the following is not an opportunity cost of attending college?

Select one:

a. The alternative uses of the time you spend studying.

b. The cost of the food that you consume while you are attending college.

c. The tuition fees that you or your Local Authority pays.

d. The income that you could have earned if you did not attend college.