scarcity.
b.
specialization.
c.
trade.
d.
efficiency.
e.
opportunity cost.
B.)replacing one resource with another resource to satisfy a want
C.)organizing the use of a resource in a manner that fulfills all wants
D.)reducing the amount of resources spent on one want to spend more on another want
Answer:
D.)reducing the amount of resources spent on one want to spend more on another want
Explanation:
A trade off is a situation where an economic agent has to decide between two options he wants. This is a concept widely used in economic theory, for example when the government will use monetary policy. If monetary policy is expansionary, it may increase the employment rate but cause inflation. If the government pursues a contractionary monetary policy, it may lower inflation but increase the unemployment rate. Then there is a trade-off in the government's choice between inflation and unemployment. Monetary policy will then be administered according to the choice the government makes.
Its D. reducing the amount of resources spent on one want to spend more on another want (100% correct; just took quiz and got all answers right)
b. $50
c. $500
d. $400
With _______ insurance, the insured agrees to pay a specific premium each year until death.
a. whole-life
b. endowment life
c. limited-payment
d. half life
2: When your house and possessions are destroyed by a fire
3: When your car is damaged by someone who has no auto insurance
4: When you have to take a month off from work because of an injury or illness
___: Uninsured motorists coverage
___: Homeowner's insurance
___: Disability insurance
___: Managed-care coverage
Answer:
Auto insurance: Repairs on damaged vehicles;
Disability insurance: Wages lost because of injury or illness;
Renter's insurance: Stolen personal possessions; Health insurance:
Visits to the doctor or hospital.
Explanation:
apexs