What is it called when an economic player avoids a choice because the opportunity cost is too high?(1 point)

positive incentive


trade-off


rational decision


negative incentive


Question 2
A) What occurs when individuals make decisions in which benefits exceed costs?(1 point)

They are removing the opportunity costs of decisions.


They are using a rational decision-making model.


They are making irrational economic decisions.


They are eliminating all trade-offs of the decision.


Question 3
A) What occurs when people make economic decisions in which the costs exceed the benefits?(1 point)

They are losing the benefits of negative externalities.


They are taking advantage of opportunity costs.


They are using their time and resources efficiently.


They are making irrational economic decisions.


Question 4
A) Which of the following is not one of the steps of the rational decision-making model?(1 point)

performing an analysis


defining the problem


identifying alternatives


determining productivity


Question 5
A) Kareem wants to make the most logical choice about what do after high school. Which advice would help him do that?(1 point)

Make a choice based on costs exceeding benefits.


Make a choice with no opportunity cost.


Make a choice based on a rational decision-making model.


Make a choice with no trade-offs.