In a market system, the allocation of scarce goods involves the consideration of
ID: 1133754 • Letter: I
Question
In a market system, the allocation of scarce goods involves the consideration of O identifying the possibility of professional advancement the dollar cost of any good or service. the time required to pursue an economic activity what must be sacrificed in using a resource for its next-best use. Suppose a city block was going to be used for a parking lot in both New York City and a small town. The opportunity cost would be tower in a small city because the alternative uses of the city block are more varied O lower in New York City because the alternative uses of the city block are more varied . greater in New York City because the alternative uses of the block are more valuable. greater in a small city because the alternative uses of the city block are more vatuableExplanation / Answer
Answer 1
what must be sacrificed in using a resource for its next-best use.
Market costs that are managed by clients and creators remembering their best advantages. Individuals remember their best advantages and endeavor to support satisfaction or advantage through their own decisions concerning usage or age. Items and endeavors are made and resources are given by whoever will do all things considered. The result is competition and by and large scattered money related influence.
Answer 2
The opportunity cost would be greater in New York City because the alternative uses of the block are more valuable
Its a fact that New York is more valuable than the small town when compared to opportunity costs and small towns are less varied as compared to New York city. So all other options are wrong and do not fit to the question asked .
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