Question

Grades are low in your biology class, so your professor offers an optional 10-point extra-credit assignment. Most of the students turn in the assignment. Which economic principle does this statement BEST represent?

Answer 1

A resource is a substance that can be used to produce something else.The quantity of a resource is always scare to satisfy the productivity of all the users.

Explanation:

• There are  Four basic economic principles underlining  the economics of individual choice.The fourth principle is that People usually exploit opportunities to make themselves better off

• When an economist tries  to predict how individuals will behave in an economic situation, it  is very obvious  that the individual  will exploit opportunities to make themselves better off. The individuals will continue to exploit these opportunities until it has  been fully exhausted(i.e. people will exploit opportunities until those opportunities have been fully taken.)

The economic principle that best represent above statement is People usually exploit opportunities to make themselves better off