The principle that people face tradeoffs applies to individuals, families and societies.
<h3>What does tradeoff mean?</h3>
Tradeoff is an economic term which means that when a person chooses a particular decision, he forgoes other decisions. For example, if a doctor leaves his job to travel the world. He is trading off the income he would earn from working as a doctor to enjoy travelling the world.
Here is the complete question:
The principle that "people face trade-off" applies so:
a) Individuals.
b) Families.
c) Societies.
d) All of the above are correct.
To learn more about tradeoffs please check: brainly.com/question/26315727
Answer:
The correct answer is option c.
Explanation:
The law of increasing oportunity costs means that as we go on substituting production of one good for another the opportunity cost of sacrificing the alternative will go on increasing. That is whythe prodcution possibilty curve is concave and bowed outward.
Because of increasing opportunity costs, there is a limit to specialization of antions in production of a commodity. As they go on producing the goods they specialize in, the opportunity cost of giving up the alternative goes on increasing.
Hiya!
The answer would be political, legal and social institutions.
1.) Political: Political institutions create and enforce laws, which help the growth of economics.
2.)Legal: Legal institutions is human behavior, which helps the economics have humanly effects.
3.)Social: Social institutions consists of a group of people who come together for a common purpose
Goodluck! c:
Answer:
26.67
Explanation:
Processing Time = 2 sec + 3 sec + 2 min + 10 sec
2 minutes = 2 x 60seconds = 120
Processing time = 120 + 2+ 3 + 10
= 135 sec
Process Capacity
= 1/135 x 60 (sec/min)
= 0.007407 x 60
= 0.44444
0.44444 x 60 (min/hr)
= 26.67
