Homework question help

label Economics
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Why do economic agents face tradeoff in our economic choices (economic decision making) process? How do we make a rational choice among the viable alternatives we have as individuals or business owners?

Jul 29th, 2015

Thank you for the opportunity to help you with your question!

The trade off is done due to scarcity of te resource i.e production of more of one goods and services less of the other goods and services. 

the choice on the alternatives is done by an individual collecting information and analysing the various alternatives then choosing the best alternative.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 29th, 2015

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Jul 29th, 2015
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Jul 29th, 2015
Sep 24th, 2017
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