What causes opportunity cost

Answers

Answer 1
Answer:

Answer:

Scarcity of resources

Explanation:

Opportunity cost is an economic term that refers to the forgone benefits that arise from the decision-making process. The value of opportunity cost is the missed benefit of the next best alternative.

Opportunity cost occurs due to the scarcity of resources. The needs of society are limitless, and producers have to make attempts to satisfy those needs with limited resources. Authorities have to allocate resources and distribute them to meet different needs in the community. As resources are scarce, decisions have to be made on what order to follow when allocating them. Priorities are determined, which causes particular options to be preferred, leading to opportunity cost.


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Which of the following statements about monetary policy is TRUE?A. Monetary policy is set by the government.B. Monetary policy adjusts the amount of governmentspending in the economy.C. Monetary policy adjusts the amount of money and creditavailable in the economy.D. All of the aboveHELPPPPPPPP URGENTTTTTTTTT
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If one product is more expensive than another product, the customer usually believes that the product is

Answers

The costumer believes that the product is better quality.

What is a key norm for effective collaboration/communication ?

Answers

Answer:

You some what answered yourself

Explanation:

  • Effective collaboration happenes with good communication

Should you pop a stye? (I have a cheer competition in two days and I NEED to know)

Answers

It will make it worse.  Don't pop it. You need to clean it.  And it may not go away in 2 days. 

What does our government do with tax money? How does government affect the business cycle? Income distribution?

Answers

Final answer:

Tax money is utilized by the government for various public services, and government policies on taxing and spending affect the economy and income distribution. Taxes can be used to stimulate economic growth or manage inflation, while also potentially redistributing wealth to reduce income inequality. However, they can also burden taxpayers, influencing economic behavior and decisions.

Explanation:

Tax money collected by the government is used for various public services and programs that benefit society. These include infrastructure projects, education, social security, healthcare, defense, and welfare programs. The way these funds are allocated can have a significant impact on both the economy and income distribution.

  • Government Policies and the Business Cycle

Government policies related to taxing and spending can affect the business cycle by either stimulating or slowing down economic growth. For example, during a recession, the government might reduce taxes or increase spending to boost economic activity. Conversely, to cool down an overheated economy, the government may increase taxes or cut spending.

Through fiscal policy, which includes taxation and government spending, the government aims to manage economic stability and growth. A decrease in taxes potentially increases consumers' disposable income, leading to higher consumption and investment by businesses. Increased government spending can directly stimulate demand in the economy, creating jobs and promoting growth. However, both can also lead to deficits and increase public debt if not balanced properly.

  • Income Distribution

Government taxation policies can significantly affect income distribution by redistributing wealth through progressive taxes, where higher earners pay a larger percentage of their income in taxes. This helps to fund social services such as welfare benefits, unemployment insurance, and educational programs that primarily benefit lower-income individuals, potentially reducing income inequality.

  • Tax Burden and Economic Growth

While taxes are necessary for funding government operations and services, they can create a burden for taxpayers. High taxation can reduce incentives to work or invest, potentially hindering economic growth. Moreover, the complexity of tax codes and the politics surrounding tax laws also influence the economic decisions of individuals and corporations. Policymakers and voters need a clear understanding of taxation's impacts to make informed decisions about fiscal policy.

Learn more about Taxation and Economy here:

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government to invest in technology and education, and to provide goods and services for the benefit of the American people. The government affect the business cycle Use of fiscal policy increased government spending and/or tax cuts is the most common way of boosting aggregate demand, causing an economic expansion.

An advantage of using a debit card is: A) You can build up your credit. B) You don’t have to record a transaction fee each time you use it to know your balance C) If you buy defective goods you can get your money back because you used your debit card. D) You have a personal PIN number for added safety if the card is stolen.

Answers

Answer:

D

Explanation:

Because if someone takes your card they wont know your pin

Answer:d

Explanation:

None of the other answers are true

Which of the following is usually the least expensive form of post-secondary education? Select the best answer choice. A. Community college B. Public university C. Doctoral program D. M.B.A. study

Answers

Answer:

I think it would be Public university

Explanation: