You develop your labor (human capital)
Due to scarcity, choices must be made. Every choice has a opportunity cost
Everyone's goal is to make choices that maximize their satisfaction. Everyone acts in their own "self-interest"
Everyone makes decisions by comparing the marginal costs and marginal benefits of every choice.
You found it to be scarce that you were offered $3.00 dollars more than the first offer.
Answer:
Demand for the coffee is inelastic
Explanation:
Inelastic demand is when individuals can't quit any pretence of utilising a good. People can't stop drinking coffee despite the fact that they need to cut down on caffeine consumption. The demand for coffee is inelastic because change in the price or the after effects of coffee does not change the demand for coffee consumption.
Diverse nation is rather tolerant and treats every human as an individual part of our world that as well as the others deserve respect, has it's own viewpoints and life position and it does not matter to which religion or race person does belongs. Diverse nation mostly has no racial discrimination and admits that all of the people are individuals.
