Your elderly grandma tells you: "I haven't been taking my beloved walks because I'm concerned about falling and getting hurt. See, there is always a cost to doing something. But if you don't do anything, then there is no cost." Your grandma does not understand the economic concept of: A) scarcity. B) efficiency. C) opportunity cost. D) marginal analysis.

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Q: Explain a situation where you had to make a choice given different options due to limited resources?

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Q: explain each.You can use an examp

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Q: Scarcity and choice

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Q: Give an Example how a change in opportunity cost can effect behavior.

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