page(s) 15 - 18 1.2. what are five foundations of economics? a football game between the thunder and the…

page(s) 15 - 18 1.2. what are five foundations of economics? a football game between the thunder and the sharks is in its closing minutes, with the thunder ahead by 20 points. the thunders coach considers sending in the second - string quarterback. this would reduce the risk of the star quarterback getting injured, but the second - string quarterback is not very good. fill in the blanks to complete the passage describing the coachs decision in economic terms. complete the passage by filling in the blank(s). drag the word(s) below to fill in the blank(s) or use your keyboard to choose word(s) from the dropdown menus. the coach is weighing a(n) risk of losing the game against a decreased risk of injury to the star quarterback. weighing the of such a decision is an example of incentives decreased large increased opportunity cost trade - offs

page(s) 15 - 18 1.2. what are five foundations of economics? a football game between the thunder and the sharks is in its closing minutes, with the thunder ahead by 20 points. the thunders coach considers sending in the second - string quarterback. this would reduce the risk of the star quarterback getting injured, but the second - string quarterback is not very good. fill in the blanks to complete the passage describing the coachs decision in economic terms. complete the passage by filling in the blank(s). drag the word(s) below to fill in the blank(s) or use your keyboard to choose word(s) from the dropdown menus. the coach is weighing a(n) risk of losing the game against a decreased risk of injury to the star quarterback. weighing the of such a decision is an example of incentives decreased large increased opportunity cost trade - offs

Answer

Brief Explanations:

The coach has to consider the higher likelihood of losing the game if the second - string quarterback is sent in (an increased risk of losing), in exchange for a reduced risk of the star quarterback getting injured. Weighing these opposing factors is an example of trade - offs in decision - making. Opportunity cost is about the value of the next best alternative forgone, which is not the main concept here. Incentives are things that motivate behavior and are not relevant in this context.

Answer:

The coach is weighing a(n) increased risk of losing the game against a decreased risk of injury to the star quarterback. Weighing the trade - offs of such a decision is an example of trade - offs.