Asked on 30 Oct 2020

5. The concept of opportunity cost helps an economist understand

a. how resources are allocated in an economy.

b. determine the causes of inflation.

c. determine consumers’ purchasing power.
 
d. understand the causes of a trade deficit.

Answered on 30 Oct 2020

Unlock this answer

Get 1 free homework help answers
Access 3.7 million verified answers.
Get access
Already have an account? Log in