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Economic Decision-Making and Opportunity Cost
Worksheet
Grade Level
Civics
9.11 Economic Decision-Making and Opportunity Cost
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Which statement best captures the opportunity-cost trade-off of the tariff?
A
Tariffs have no trade-offs because they create jobs without any costs.
B
Tariffs only affect foreign producers; domestic consumers are never affected.
C
Gaining some benefits for protected producers comes with an opportunity cost: consumers and downstream businesses pay higher prices and may buy less, creating losses elsewhere in the economy.
D
Tariffs eliminate scarcity, so opportunity cost disappears.
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