Rational decision-making under conditions of scarcity requires individuals to: a. be alert to price reductions on desired products. b. earn as much income as possible. c. understand that trade-offs are necessary. d. place a monetary value on everything. e. know the prices of all goods they might buy.

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Marisa

Business

16 May, 15:24

Rational decision-making under conditions of scarcity requires individuals to: a. be alert to price reductions on desired products. b. earn as much income as possible. c. understand that trade-offs are necessary. d. place a monetary value on everything. e. know the prices of all goods they might buy.

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Daniella Larson · Answer 1

Answer: Know the prices of all goods they might buy.

Explanation: Assets not acquired become property precisely because their use by one person means that others cannot use them. When a good has no owner (for example, in a state of nature), the question of acquiring it and making it the property of one is a matter, as with all actions, of choosing a course of action over another. However, given a system of property rights that determines how goods can be acquired fairly, interactions with others do not necessarily arise.