Question

question 1
1 pts
what is the commercial exchange of goods and services?
opportunity cost
economics
trade
scarcity

Explanation:

• Opportunity cost is the value of the next best alternative foregone, not exchange of goods/services.
• Economics is the broader study of resource allocation, not the exchange itself.
• Trade is defined as the commercial exchange of goods and services.
• Scarcity refers to limited resources relative to wants, not exchange.

Answer:

C. trade