unit 1 economic fundamentals test\ndefinition: deciding how to spend one more unit of a resource\nopportunity…

unit 1 economic fundamentals test\ndefinition: deciding how to spend one more unit of a resource\nopportunity cost\nthinking at the margin\ncost - benefit analysis\neconomics

unit 1 economic fundamentals test\ndefinition: deciding how to spend one more unit of a resource\nopportunity cost\nthinking at the margin\ncost - benefit analysis\neconomics

Answer

Brief Explanations:

Opportunity cost is the value of the next - best alternative forgone. Cost - benefit analysis is comparing total costs and total benefits. Economics is the study of how society manages its scarce resources. Thinking at the margin means considering the effects of a small change in an activity, which is about deciding how to use one more unit of a resource.

Answer:

B. thinking at the margin