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Scarcity and Choice

This review will guide you through an adaptive, research-backed study session. As you answer questions, we will actively assess your current understanding of the material. Questions will continue to be drawn until you have demonstrated mastery of each learning objective.

Reviews are graded based on completion. You will receive full credit for achieving 100% mastery or answering all questions.

Learning objectives for this review:

  • Define and explain the concept of scarcity.
  • Analyze how scarcity leads to the need for choice and trade-offs.
  • Discuss the implications of scarcity on resource allocation.