Question

4 what is the basic problem in economics? *
mark only one oval
scarcity
pricing
consumer behavior
government policies

5 the next best alternative when a choice is made is known as the ______ .
mark only one oval.
trade - off
opportunity cost
technology
economic model

6 ______________ is anything that people use to obtain what they want *
mark only one oval
economic model
factors of production
resources
scarcity

Explanation:

1. For question 4: The core foundational problem in economics arises because unlimited human wants face limited available resources, which is defined as scarcity.
2. For question 5: Opportunity cost is explicitly defined as the value of the next best alternative that is forgone when a choice is made.
3. For question 6: A resource is any item or service that people utilize to fulfill their needs or desires.

Answer:

1. scarcity
2. opportunity cost
3. resource