Concept
Version 7
Created by Boundless
Scarcity Leads to Tradeoffs and Choice
Tradeoffs
Since resources are scarce for a drink manufacturer, it must make a tradeoff between producing bottles of water and bottles of soda.
Source
Boundless vets and curates high-quality, openly licensed content from around the Internet. This particular resource used the following sources:
"Steven Hinson, The Invisible Hand and Allocative Efficiency. October 18, 2013."
http://cnx.org/content/m42970/latest/
OpenStax CNX
CC BY 3.0.