Rosa is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $12 per hour. This is in addition to paying a $5 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? The cost of something is what you give up to get it Markets are usually a good way to organize economic activity
Rosa is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $12 per hour. This is in addition to paying a $5 entrance fee for the pool. Which basic principle of individual choice do these statements best illustrate? The cost of something is what you give up to get it Markets are usually a good way to organize economic activity
Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 4SQP
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Rosa is training for a triathlon, a timed race that combines swimming, biking, and running.
Consider the following sentence: In order to swim for an hour, Rosa must take time away from work, where she earns $12 per hour. This is in addition to paying a $5 entrance fee for the pool.
Which basic principle of individual choice do these statements best illustrate?
The cost of something is what you give up to get it
Markets are usually a good way to organize economic activity
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