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miskamm [114]
3 years ago
6

7. Opportunity Costs exist when (4 points)

History
1 answer:
max2010maxim [7]3 years ago
5 0

Answer:

People make choices about what to buy.

Explanation:

Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.

Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.

Hence, the opportunity cost of buying a product is the utility (satisfaction) that could be derived in another product using the same amount of money.

For example, if you decide to use your money to buy a Playstation 5, your opportunity cost would be the satisfaction you could have derived if you had invested the same amount of money in buying a bike for easy transportation.

Hence, opportunity costs exist when people make choices about what to buy.

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One important factor that brought changes to the hunter-gatherer way of life was large prey animals were becoming extinct.

<h3>What led to a change in the hunter-gatherer lifestyle?</h3>

Hunter-gathering was the main way that humans survived before the Neolithic Age brought about agricultural innovations.

This lifestyle of hunting and gathering began to change and become less prominent however, when large prey animals began to go extinct. This meant that the animals available could no longer feed larger societies and so an alternative food source was needed.

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In conclusion, an important factor that brought changes to hunting and gathering was large prey animals were becoming extinct.

Find out more on why the hunter-gatherer lifestyle changed at brainly.com/question/20307952

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wel

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b. Northerners felt slavery was an economic disadvantage to white people also.

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