Which of these is an example of a capital resource?
(1 point)
Responses
workers
workers
iron ore
iron ore
entrepreneurs
entrepreneurs
computers
computers
How does scarcity affect customers?
(1 point)
Responses
Limited money forces consumers to make choices.
Limited money forces consumers to make choices.
Limited time prevents customers from making decisions.
Limited time prevents customers from making decisions.
Limited numbers of producers force customers to be loyal.
Limited numbers of producers force customers to be loyal.
Limited wants and needs limit customers to small purchases.
Limited money forces consumers to make choices.
A fast-food chain makes the decision to rebrand itself as a mid-range adult café instead of a cheap kid-friendly restaurant. This change will involve using higher-quality ingredients and renovating to remove children’s playgrounds.
Question
Use the passage to answer the question.
What is the opportunity cost in the scenario above?
(1 point)
Responses
one-time expense of renovating restaurants
one-time expense of renovating restaurants
ongoing expense of high-quality ingredients
ongoing expense of high-quality ingredients
money that is expected to be provided by new adult customers
money that is expected to be provided by new adult customers
money that could have been made from families with young children