Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Get detailed answers to your questions from a community of experts dedicated to providing accurate information. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A 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
Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.
