Question

the alternative you give up when you make an economic choice is a(n) * 1 point
compromise
option
trade - off
utility

in a circular flow model of a modified free enterprise system, the government is typically placed * 1 point
in the center
on the left side
on the right side
at the top

the process of changing from government ownership to private ownership is called * 1 point
privatizing
nationalizing
economizing
downsizing

Explanation:

1. In economics, the alternative given up when making a choice is a trade - off. It represents the value of the next best alternative forgone.
2. In a circular flow model of a modified free - enterprise system, the government is typically placed in the center as it influences and is influenced by both households and businesses through various economic policies and transactions.
3. The process of changing from government ownership to private ownership is called privatizing. Nationalizing is the opposite (going from private to government ownership), economizing is about using resources efficiently, and downsizing is reducing the size of an organization.

Answer:

1. C. trade - off
2. A. in the center
3. A. privatizing