crash course economics #1 - scarcity\ntood florez\nmultiple - choice question\nin economics, cost…

crash course economics #1 - scarcity\ntood florez\nmultiple - choice question\nin economics, cost must\nnever influence spending\nbe higher than the benefits\ncontrols government fiscal policy\nbe compared with the benefits

crash course economics #1 - scarcity\ntood florez\nmultiple - choice question\nin economics, cost must\nnever influence spending\nbe higher than the benefits\ncontrols government fiscal policy\nbe compared with the benefits

Answer

Brief Explanations:

In economics, decision - making involves weighing costs and benefits. Costs are considered in relation to the benefits they bring. For example, when a firm decides to produce a good or service, it compares the cost of production (inputs like labor, materials) with the potential revenue (benefits) it can earn. Cost can influence spending as consumers and producers make choices based on cost - benefit analysis. It is not a rule that cost must be higher than benefits, and while cost is a factor in government fiscal policy, it doesn't "control" it. The key is the comparison between cost and benefit.

Answer:

be compared with the benefits