Multiple Choice 1 point A consumer wants to buys new computer. Although the computer will be more expensive It will be faster and more efficient than the less expensive model. Which term describes such an economic choice? competition Supply Scarcity Trade-off

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Multiple Choice 1 point A consumer wants to buys new computer. Although the computer will be more expensive It will be faster and more efficient than the less expensive model. Which term describes such an economic choice? competition Supply Scarcity Trade-off

Answer 1

## Step 1The problem presents a scenario where a consumer is faced with a decision to buy a more expensive computer that is faster and more efficient than a less expensive model. The consumer has to weigh the benefits and drawbacks of each option.## Step 2The term that best describes this situation is "Trade-off". A trade-off involves balancing the benefits and drawbacks of different options. In this case, the consumer is weighing the benefits of a faster and more efficient computer against its higher cost.## Step 3The other options do not accurately describe this situation. "Competition" refers to the rivalry between businesses, "Supply" refers to the availability of goods, and "Scarcity" refers to the limited nature of resources.

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Multiple Choice 1 point A consumer wants to buys new computer. Although the computer will be more expensive It will be faster and more efficient than the less expensive model. Which term describes such an economic choice? competition Supply Scarcity Trade-off

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