Economics: The Science of Scarcity Quiz

Buyers and sellers engaging in transactions where both parties are better off (correct)

Buyers and sellers engaging in transactions without any benefit

Buyers and sellers engaging in transactions to achieve maximum utility

Buyers and sellers engaging in transactions with no consideration for alternatives

Rational behavior

Marginal analysis (correct)

Voluntary exchange

Opportunity cost

The benefit achieved from market transactions

The alternatives considered before making a choice

The maximum utility derived from a decision

The most desirable alternative given up when you make a choice (correct)

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