Asked by
Hitesh jhanjhari
on Dec 08, 2024
Verified
Related to the Economics in Practice on page 3: According to the Economics in Practice, due to the opportunity cost differential, one would expect ________ children at school when the rains have been plentiful in rural India, and ________ children at school when rural India is suffering from a drought.
A) more; fewer
B) fewer; more
C) the same number of; the same number of
D) no; all
Opportunity Cost
The cost of foregone alternatives when one option is chosen over another.
Rural India
Refers to the countryside or village areas in India, often characterized by agriculture-based economies and lower population density compared to urban regions.
- Evaluate the cost of foregone opportunities in relation to personal decisions and economic exchanges.
- Determine the link between scarcity of resources and the rise of opportunity costs.
Verified Answer
ER
Learning Objectives
- Evaluate the cost of foregone opportunities in relation to personal decisions and economic exchanges.
- Determine the link between scarcity of resources and the rise of opportunity costs.