Which of the following accurately explains why scarcity forces individuals and society to incur opportunity costs?
a. scarcity forces a nation to accelerate economic growth by increasing its production of capital goods in excess of the capital being worn out in the production process.
b. because of scarcity, people must make choices, and each choice incurs a cost.
which of the following are examples of opportunity costs? check all that apply.
a. the time spent preparing for a test cannot be spent playing computer games.
b. a student bought some potato chips and ate them all while studying for a test.
c. when a firm invested in a new on-site gym, more young people applied for jobs there.
d. the money spent on a movie ticket cannot buy a blu-ray player.

Asmall town wants to build some new recreational facilities. the proposed facilities include a swimming pool, recreation center, basketball court and baseball field. the town council wants to provide the facilities which will be used by the most people, but they face budget and land limitations. the town has $400,000 and 14 acres of land. the pool requires locker facilities which would be in the recreation center, so if the swimming pool is built the recreation center must also be built. also, the council has only enough flat land to build the basketball court or the baseball field. the daily usage and cost of the facilities (in $1,000) are shown below. which facilities should they build? facilityusagecost ($1,000)landswimming pool4001002recreation center5002003basketball court3001504baseball field2001005