Briefly explain why choices must be made in the economy

Explanation:

choice is a decision that one must make as an economist. the decisions you make about what to do with your limited resources is CHOICE.  choice has to do with decision making.

Human wants are numerous and insatiable, and the available resource is limited ,i. e the available resources cannot cater for the demand of humans due to scarcity. Hence,  the need to make a choice arises. As a result of scarcity, we as an individual and even the government at large needs to make a CHOICE.

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"we first find value of tax in dollars.

the difference between the two prices   is: 23. 54 - 22 = 1.54

therefore the sales tax in dollars is 1.54

the tax % will be   (amount of tax / original cost price ) × 100

(1.54 / 22) × 100  → (0.07) × 100 =   7

so the tax rate is 7%

we can double check the answer.

7 % of 22   → (7/100) × 22 → 0.07 × 22 = 1.54

22 + 1.54 = 23.54"

answer; commerce clearing house;