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?
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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.
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