7. Opportunity Costs exist when (4 points)
O Land, labor, and capital are too expensive
O People make choices about what to buy
O There are only a few sellers in the industry
O People enjoy buying very expensive things

Answers

Answer 1

Answer:

People make choices about what to buy.

Explanation:

Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

Hence, the opportunity cost of buying a product is the utility (satisfaction) that could be derived in another product using the same amount of money.

For example, if you decide to use your money to buy a Playstation 5, your opportunity cost would be the satisfaction you could have derived if you had invested the same amount of money in buying a bike for easy transportation.

Hence, opportunity costs exist when people make choices about what to buy.


Related Questions

(BLANK)is Britain's law-making body equivalent to the United States Congress It is made up of an upper and lower house​

Answers

Answer:

       

Explanation:

Why do you think the 19th Amendment took so long to pass?

Answers

Answer:

They didn't wanna let women to vote or to have the power too. If they did they would have let blacks vote to and this all happened back when everything was segregated. If they passed the 19th Amendment then they would be giving blacks the power as well as women to vote. Back then men were at the top and they didn't wanna be taken over by blacks and women.

Explanation:

What effect did the Compromise of 1877 have on the country? How did the compromise begin to directly impact various groups in the country (some groups to consider : formerly enslaved African Americans, white landowners in the south, African Americans living in the north, etc)?

Answers

Answer:

Explanation:

The Compromise of 1876 effectively ended the Reconstruction era. Southern Democrats' promises to protect civil and political rights of blacks were not kept, and the end of federal interference in southern affairs led to widespread disenfranchisement of blacks voters.

Who Was Responsible for The Compromise of 1850?

Senator Henry Clay of Kentucky, a leading statesman and member of the Whig Party known as “The Great Compromiser” for his work on the Missouri Compromise, was the primary creator of the Missouri Compromise. Fearful of the growing divide between North and South over the issue of slavery, he hoped to avoid civil war by enacting a compromise.

Famed orator and Massachusetts senator Daniel Webster, while opposed to the extension of slavery, also saw the compromise of 1850 as a way of averting national discord, and disappointed his abolitionist supporters by siding with Clay.

When Clay, facing health problems, grew too ill to argue his case before the senate, his cause was taken up by Democratic senator Stephen A. Douglas of Illinois, an ardent proponent of states’ rights when it came to deciding the issue of slavery.

John C. Calhoun, a former vice president-turned senator from South Carolina, sought the expansion of slavery into new territories, but in an 1850 speech to the Senate, wrote: “I have, senators, believed from the first that the agitation of the subject of slavery would, if not prevented by some timely and effective measure, end in disunion.”

When the full compromise failed to pass, Douglas split the omnibus bill into individual bills, which permitted congressmen to either vote or abstain on each topic. The untimely death of President Zachary Taylor and ascendancy of pro-compromise Vice President Millard Fillmore to the White House helped contribute to the passage of each bill. Calhoun died in 1850 and Clay and Webster two years later, making their roles in the Compromise of 1850 one of their last acts as statesmen.

Main Points of The Compromise of 1850

The Compromise of 1850 was made up of five separate bills that made the following main points:

Permitted slavery in Washington, D.C., but outlawed the slave trade

Added California to the Union as a “free state”

Established Utah and New Mexico as territories that could decide via popular sovereignty if they would permit slavery

Defined new boundaries for the state of Texas following the Mexican-American War, removing its claims to parts of New Mexico but awarding the state $10 million in compensation

The Fugitive Slave Act of 1850 required citizens to assist in apprehending runaway slaves and denied enslaved people a right to trial by jury.

The Fugitive Slave Act of 1850

The first Fugitive Slave Act was passed by Congress in 1793 and authorized local governments to seize and return people who had escaped slavery to their owners while imposing penalties on anyone who had attempted to help them gain their freedom. The Act encountered fierce resistance from abolitionists, many of whom who felt it was tantamount to kidnapping.

The Fugitive Slave Act of 1850 compelled all citizens to assist in the capture of runaway slaves and denied enslaved people the right to a jury trial. It also placed control of individual cases in the hands of federal commissioners, who were paid more for returning a suspected slave than for freeing them, leading many to argue the law was biased in favor of Southern slaveholders.

Outrage over the new law only increased traffic along the Underground Railroad during the 1850s. Northern states avoided enforcing the law and by 1860, the number of runaways successfully returned to slaveholders hovered around just 330.

Both Acts were repealed by Congress on June 28, 1864, following the outbreak of the Civil War, the event proponents of the Compromise of 1850 had hoped to avoid.

(hope this helps can i plz have brainlist :D hehe)

What three basic principles did other governments adopt from the Magna Carta

Answers

Answer: Magna Carta, which means 'The Great Charter', is one of the most important documents in history as it established the principle that everyone is subject to the law, even the king, and guarantees the rights of individuals, the right to justice and the right to a fair trial.

Explanation:

hope this helps, have a great day!

Your policy says you have 50/100/30 coverage.
Check the correct coverage for this policy.

Answers

Answer:

The Answer is In the Explanation Below

Explanation:

The numbers 50/100/20 represent your policy coverage limits. If you have this amount of car insurance coverage, your insurance company will pay for $50,000 in bodily injury liability per person, $100,000 in bodily injury liability per accident, and $20,000 in property damage liability.

The annexation of Hawaii in 1898 contributed to
A.
the spread of democracy to Latin America.
B.
improved trade between the United States and Europe.
C.
the expansion of US power in the Pacific.
D.
heightened public fear of the influence of communism.

Answers

C.) The expansion of US power in the Pacific.

I hope this answer helped! please mark brainliest and vote 5 stars >:)

Answer:

Correct answer is C.  the expansion of US power in the Pacific.

Explanation:

Only option C is correct as that was the period when the American imperialism was on the rise. Spanish-American war and addition of Guam, Puerto Rico contributed to that.

All other options are false as are not connected with the annexation of Hawaii.

Select the correct text in the passage. Identify the text from the Declaration that “sets out principles that were already recognized to be ‘self-evident’ by most 18th-century Englishmen.”

A- When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of earth

B- We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the pursuit of Happiness.

C- Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, which evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed.

D- Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States.

Answers

Answer:

I would say answer B.

Explanation:

The truths that were obvious to the people were that all men were created as equals.

Answer:

Its B just turned it in!:)

Explanation:

Which phrase from the Declaration of Independence describes the source of government's authority?

Answers

Answer: Governments are instituted among men, deriving their just powers from the consent of the governed.”

Explanation:

he natural rights mentioned are "Life, Liberty, and the Pursuit of Happiness". The idea was also found in the Declaration of the Rights of Man.

1.) The Savannah port handles about ________of the imports that come into Georgia.

A.) 40%

B.) 60%

C.) 80%

_________________________________________________________

2.) The___________ port handles nearly all of the remaining shipping traffic.

A.) Albany

B.) Brunswick

C.) Dalton

Answers

the answers for these questions are c and b

Answer:

80%  and Brunswick just did the assignment

Explanation:

This invention allowed the Protestant Reformation to spread rapidly throughout Europe...
The Feudal System
The New Testament Bible
The Movable Type Printing Press
Indoor Plumbing

Answers

Answer:

The Movable Type Printing Press

Explanation:

The Movable Type Printing Press was invented by the famous Johann Gutenberg and this went a long way to significantly influence and amplify the spread or dissemination of information during the Protestant Reformation.

The Movable Type Printing Press was an invention which allowed the Protestant Reformation to spread rapidly throughout Europe.

Please please help me::::(

Answers

ok so it goes like this
1. C

2. B

3. B

Hope that helps :)

2. Before the war, Kim Il-Sung informed the Soviet Union and China of his plan to invade

Answers

Answer:

Correct answer is South Korea.

Explanation:

Kim Il-Sung was a prime minister of North Korea who was an ally of both China and Soviet Union.

Therefore, before the famous Korean War started he informed his allies about this plan. Historians were doubting whether even the attack on South Korea was a Soviet plan, but it was obviously created by Il-Sung.

Answer:

south korea

Explanation:

edge 2022

The United States' entry into World War II had which of these effects on domestic politics?

Answers

Answer:

support for banking reform intensified

Explanation:

After the Pearl Harbor attack, the war was a major subject for the midterm elections. People were suffering because there was an industrial mobilization to convert production of civilian consumer goods to war materials. This caused a rationing program, each citizen had a limited fair share, prices control started and labor shortages concerned people.

This led to a Republican win in the midterms, the Congress controlled the home front agenda, in 1944 Congress passed new taxes to help fund the war expenses, the GI Bill to make a social reform program.

Why did the delegates to the Syrian General Congress object to the plan to create mandates in the former Ottoman provinces? What alternatives did they offer?

Answers

Answer:

The delegates to the Syrian General Congress objected to the plan to create mandates in the former Ottoman provinces because they did not want the Zionists to take land from them. They also wanted to avoid the migration of the Zionists to Syria, and said that they considered the Zionists a grave peril to their people. As an alternative, they said that they would allow their Jewish compatriots only to enjoy common rights and assume the common Syrian responsibilities.

Explanation:

What is the Practice of forcing people to serve in the army or navy?

Answers

Answer:

Impressment

Explanation:

Practice of forcing people to serve in the army or navy.

How many days did Lloyd Brown spend in basic training before being shipped off to the front line?

Answers

A friend of mine insists that some of his friends were sent to war without adequate training, specifically only 2 weeks.

Describe the continents during the age of dinosaurs. the Triassic Period, about 230 million years ago

Answers

Highly vegetarian with pools of water and plants
The Triassic Period (252-201 million years ago) began after Earth's worst-ever extinction event devastated life.

The Permian-Triassic extinction event, also known as the Great Dying, took place roughly 252 million years ago and was one of the most significant events in the history of our planet. It represents the divide between the Palaeozoic and the Mesozoic Eras.

The cause of the Permian-Triassic extinction event is not fully understood. Various theories have been proposed, such as an unknown asteroid impact, massive volcanic eruptions in what is now Siberia, the release of methane from the depths of the oceans, sea level change, increasing aridity, or a combination of many of these.

By some estimates, it may have taken up to 10 million years for the planet to recover from the devastation caused by the Great Dying.

Which statement best describes how Andrew Jackson viewed South Carolina's action?
He thought that it was beinched if thatator did became thing
that it

Answers

Answer:

Jackson argued that state attempts to nullify the tariff were unconstitutional.

Explanation:

Please help me with this question

Answers

Answer:

this is really complex i'm not sure who would be able to solve this. good luck.

Explanation:

Answer: sure

Explanation:

What was a result of the 1905 Revolution in Russia?
-
O Russia left World War I.
STANIE
O The creation of the Duma
O The abdication of the tsar
O A new Communist government

Answers

Answer:

The creation of the Duma

Explanation:

The tsar remained in power but did agree to some reforms, most notably the creation of a parliamentary body known as the Duma.

In what ways did the geography of New England almost guarantee that fishing would become a major industry in the
region?
(it isn’t a multiple choice question)

Answers

Answer: Abundance of flat coastline

Explanation:

The geography of New England was such that every one of the colonies had access to the coast of the Atlantic and with the coasts being flat, good harbors could be built.

They also had access to lots of forest which allowed them to become excellent shipbuilders. Their good harbors and ships as well as access to the Atlantic allowed them to be able to fish a variety of fish such as whale and cod both by the coast and further into the Atlantic thereby allowing for fishing to became a major industry there.

Hi can someone help me out. This is due by the end of the day.​

Answers

Answer:

The answer is

Explanation:

D is the answer I would give you a reason but it to long to type :)

Who was William Shakespeare?

1. He was an important scientist.
2. He invented the printing press.
3. He was an important playwright.
4. He wrote major religious literature.

Answers

Answer:

3

Explanation:

it is the correct answer

William Shakespeare was an important playwright. The appropriate response is option C.

Who was William Shakespeare?

Shakespeare was a playwright, poet, & actor from England. In his lifetime, he produced 38 plays (of which nearly half were comedies) and two lengthy poems. He was an English resident of Warwickshire's Stratford-upon-Avon.

William Shakespeare is regarded by many as the greatest playwright of all time and the most important author in the development of the English language. Numerous phrases and words still used by English speakers today are his creations.

Shakespeare composed or worked on at least 37 plays between around 1590 and 1613. The Merchant of Venice and Also much Ado About Nothing are two of his works. His ten plays about history include Henry V and Richard III. The most well-known of his tragedies are Macbeth, King Lear, Hamlet, and Othello.

To learn more about William Shakespeare

https://brainly.com/question/8912844

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What is the term for the period when nations stop fighting so they can arrange peace? (5 points)
Armistice
War guilt
Reparations
Disarmament

Answers

Answer:

armistice

Explanation:

I took the test and got it right.

Tang leaders feared how Buddhism would affect China's
economy
O Confucian traditions
O trade missions
O army

Answers

Confucian traditions

Where is the highest population likely found?

a suburban area


a rural area


an urban area

Answers

Explanation:

the highest population is found in the urban area

Answer:

Yeah its urban

Explanation:

i took risk its correct

Can someone give me answers for this?

Answers

Answer:

i wish but I'm not that big brained like most of the people on this app

Which amendments are they ?

Answers

Answer:

There are 27 amendments in all

Explanation:

I don't know which amendments you want, so, there is 27 amendments out there

Which of these was a challenge formany people who traveled to the West?
Select one:
. a. Great Plains
b. Missouri River
c. Pacific Ocean
d. Rocky Mountains

Answers

Answer:

D. Rocky Mountains

Explanation:

After entering the mountains, the trail became much more difficult, with steep ascents and descents over rocky terrain. The pioneers risked injury from overturned and runaway wagons.

Which of the following did NOT happen during the 1950s?
a. Sputnik
b. Passage of the Civil Rights Act.
c. Brown v. Board of Education
d. "Leave it to Beaver"

Answers

Answer:

B.

Explanation:

the passage of the civil rights act happened july 2, 1964

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