Bill decided to buy six books on history instead of four books on politics. It follows, then, that the opportunity cost of each history book was ________ books on politics.

Identify and explain each of the three causes of globalization.

Suppose apples are currently selling for 50 cents each. Someone says that apple sellers can't make a decent living if they sell their apples so cheaply. He says there should be a law stating that no one can sell an apple and no one can buy an apple for less than 75 cents. He intends for the law to raise the income of apple sellers. What might be an unintended effect of this law? Explain your answer.

Why is it better to judge theories by how well they predict than by whether they sound right or reasonable to us?

Gallagher is planning on going to college in a few months. The tuition $10,000 a year. Assuming that Gallagher goes to college for four years is the opportunity cost of his attending college$40,000? Why or why not?

Create an argument for or against the idea that scarcity can be prevented by a society. Explain.

No one can change the fact that scarcity exists. Assume, however, that scarcity did not exist. How would your life be different?

How is scarcity different from shortages?

Explain what responsibility goes with each of the following rights: a. the right to voluntary exchange b. the right to private property c. the right to compete

Explain this statement: "Because scarcity exists, choices must be made."

Why might an economist look at hundreds of cars moving along an assembly line and say, "There is an example of scarcity"?

Suppose it is costly to build more schools in your city or town. Does it necessarily follow that the schools should not be built? Explain your answer.

________ refers to the integration of economic activities across national borders; a phenomenon by which economic agents in any part of the world are affected by events elsewhere in the world; and the extension of the division of labor and specialization beyond national borders.

Evaluate the costs and benefits of charitable giving.