Final answer:
To evaluate choices in economics, individuals need to consider the consequences due to scarcity and trade-offs associated with each decision. A Cost Benefit Analysis helps determine these consequences by comparing marginal costs to marginal benefits.
Step-by-step explanation:
To compare and evaluate choices within the scope of economics, one needs to have a clear understanding of the tradeoffs that are a result of scarcity. This concept teaches that because resources are limited, every choice has a cost—a concept known as opportunity cost. To make informed decisions, individuals can use a Cost Benefit Analysis, a tool that helps weigh the marginal costs and marginal benefits of each additional unit or option. Given this context, when evaluating choices, what is most crucial is the set of consequences that come with each decision. The consequences help us understand the tradeoffs and assist in the decision-making process. Thus, in the context of the question, the correct answer is 'c. Consequences'.