Rosa is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $11 per hour. This is in addition to paying a $4 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? Markets are usually a good way to organize economic activity. The cost of something is what you give up to get it. People usually exploit opportunities to make themselves better off.
Rosa is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $11 per hour. This is in addition to paying a $4 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? Markets are usually a good way to organize economic activity. The cost of something is what you give up to get it. People usually exploit opportunities to make themselves better off.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter3: Your Role As A Consumer
Section: Chapter Questions
Problem 20AA
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Rosa is training for a triathlon, a timed race that combines swimming, biking, and running.
Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $11 per hour. This is in addition to paying a $4 entrance fee for the pool.
Which basic principle of individual choice do these statements best illustrate?
Markets are usually a good way to organize economic activity.
The cost of something is what you give up to get it.
People usually exploit opportunities to make themselves better off.
Trade can make everyone better off.
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