What occurs when individuals make decisions in which benefits exceed costs? A. They are removing the opportunity costs of decisions.

B. They are using a rational decision-making model.

C. They are making irrational economic decisions.

D. They are eliminating all trade-offs of the decision.

Scarce resources diminish as they are used and almost all resources are scarce.

In order to use a scarce resource, you are inherently using the resource for one purpose and not an alternative.

The cost of using a resource is called the opportunity cost: the value of the next best alternative that you could be using the resource for instead.

Key Terms

Scarce: Insufficient to meet demand.

Opportunity cost: The value of the best alternative forgone.

Explanation:

the culture of the americas was influenced by the language, food, and music of africa.

explanation:

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