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Define scarcity, Choice, and opportunity cost?​
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Define scarcity, Choice, and opportunity cost?​

User SnowFrog
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16 votes

Whenever a choice is made, something is given up. The opportunity cost of a choice is the value of the best alternative given up. Scarcity is the condition of not being able to have all of the goods and services one wants.

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User NaffetS
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