Search Textbook Solutions QuizQuestions -Chapter 1 C 7.Concept Check 1 ourses/92

Question

Search Textbook Solutions QuizQuestions -Chapter 1 C 7.Concept Check 1 ourses/924039/quizzes/1853157/take Chris has a one-hour break between classes every Wednesday. Chris can either stay at the library and study OR go to the gym and work out. The decision Chris must make is O not an economic problem because neither activity costs money O not an economic problem because it's an hour that Chris has no matter what he does. O an economic p:roblem because the tuition Chris p:ays covers the cost of both the gym and the library. an economic problem because Chris has only one hour, and engaging in one activity means giving up the other. O 94/2018

Explanation / Answer

The problem is an economic problem because the resources, that is an hour break time, are limited with him and to do more of an activity he will have to surely give up on another. He cannot do both activities continuously. This is an economic problem where he will have to make a choice between the two activities with given resource of an hour break. The last option is correct.

The second question needs relevant text.

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