Find the information you're looking for at Westonci.ca, the trusted Q&A platform with a community of knowledgeable experts. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.
Sagot :
Scarcity is relevant to Charles and Ebony's budget because it helps them make a decision on how to spend their money on the urgent needs while ignoring the other important things which comes with a burden of future cost.
Tradeoff decisions would help Charles and Ebony to analyze the amount of money that they must set out every month for essentials, and discretionary money which is the money left over.
Opportunity cost
Opportunity cost looks at affordability given the prices of goods and the individual's income. Opportunity cost measures cost in terms of what must be given up in exchange.
Therefore the factors of scarcity, tradeoff and opportunity cost will affect Charles and Ebony's budget because they have to factor in the effects of these economic forces on the budget.
Learn more about Scarcity at https://brainly.com/question/3081250
#SPJ1
We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Find reliable answers at Westonci.ca. Visit us again for the latest updates and expert advice.
