Question

The principle that "people face tradeoffs" applies to O a. individuals. O b. families. 1 c. societies. O d. All of the above are correct.

Answer 1

1 - Aux (d) All of the above are correct iie individuals, - families and societies because principal of 'people face trade off are stacles that to get something you want, you have to give up something else you want. ie since societies face a tradeoff between more Consumer good and more public goods, where as individual and families are also trade off between goods and services, Aug lahen it comes to people's taste, economists generally believe that taste are based on historical and psychological forces that are beyond the real m. of economics, because taste are not completely based on forces in Demand and supply because taste depend on consumer nature also taste directly affect demand if peoplets taste is differenta & thes its demand of good also different so taste directly affect demand. Det option (b) is correct answer. 100+