Economic decision making quick check
Number one what is the definition of a benefit
A benefit is an advantage or profit gained from something. It is a positive outcome or gain resulting from a decision, action, or situation.
Economic decision making quick check
Number to a city consul it has 100,000 to spend on city improvements to counsel may choose to spend this money on buying two new firetrucks or updating for local parks which of the following is a trade off of choosing to spend the money on for local parks
The trade-off of choosing to spend the money on updating four local parks instead of buying two new firetrucks could be potentially risking the safety and efficiency of fire services in the city. Investing in parks may improve the quality of life for residents, but it may come at the cost of having fewer resources available for emergency response services.
Economic decision making quick check
Number to a city consul it has 100,000 to spend on city improvements to counsel may choose to spend this money on buying two new firetrucks or updating for local parks which of the following is a trade off of choosing to spend the money on for local parks
a. Firefighters must use older trucks
b. local parks will be open shorter hours
c. more people will enjoy visiting local parks
d. no money will be available to pay firefighters
b. local parks will be open shorter hours
Choosing to spend the money on updating local parks may result in a trade-off where the city council has to reduce the operating hours of the parks to accommodate the budget constraints. This trade-off could potentially impact the access and enjoyment of the parks by the residents.