Select all the correct answers. Jennifer has a limited amount of water at home because of a problem with her pipes. The plumber isn’t available right away, and so she must live with a limited water supply for the day. Jennifer needs to take a bath, water her plants, and do the dishes. If she uses all the water to have a luxurious bath, there would be no more water for the plants and the dishes. So, she decides to use only a bucket of water for a quick bath, another bucket for watering plants, and one bucket to clean the dishes. She saves and stores some water in the bathroom. Which economic concepts are at play here?
a) scarcity
b) labor
c) entrepreneurship
d) diversification
e) marginal analysis

Marginal analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity. Marginal refers to the focus on the cost or benefit of the next unit or individual, for example, the cost to produce one more widget or the profit earned by adding one more worker. Like she chose to have one bucket of water per task she had to do with leftover water, inted of having a bath and using all the water. Like oppertunity cost.

clvsotelog39 clvsotelog39 · Answer 2 · 2022-01-22T02:34:34+01:00

Answer:

marginal analysis and scarcity

Explanation:

See scarcity at other answer

Marginal analysis is an examination of the additional benefits of an activity compared to the additional costs incurred by that same activity. Marginal refers to the focus on the cost or benefit of the next unit or individual, for example, the cost to produce one more widget or the profit earned by adding one more worker. Like she chose to have one bucket of water per task she had to do with leftover water, inted of having a bath and using all the water. Like oppertunity cost.

Explanation