Share an example from your life where you had to make a choice knowing that you are giving up opportunities for doing or gaining something else ... Tell us about your thinking process and how you arrived at the final choice you made. Would you make the same choice gain?

Moreover, why do consumers make choices when they acquire something (jobs, money, friends, vacations, sleep, living places, etc.), and why do individual producers or nations have to choose the type, quality, and quantity of what they produce?

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Business

Haylee Sanchez

20 September, 05:52

Share an example from your life where you had to make a choice knowing that you are giving up opportunities for doing or gaining something else ... Tell us about your thinking process and how you arrived at the final choice you made. Would you make the same choice gain?

Moreover, why do consumers make choices when they acquire something (jobs, money, friends, vacations, sleep, living places, etc.), and why do individual producers or nations have to choose the type, quality, and quantity of what they produce?

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Kareem Brady · Answer 1

I would have to give up my dream of getting an economics degree because I felt that an economics degree would give me a more stable future. My parents always believed that, after finishing my education, I should pursue my acting career.

I'd make another choice, since I'm happy with my job now. If I choose to perform, I should have struggled a lot.

Consumers C make decisions because each action has a risk cost. You can't do two things at the same time and must choose one.

Individual producers / nations must choose what they are to produce, how they are to produce and how much they are to produce, as their resources are limited and their alternatives are being applied.