If a government decides to allocate more resources to education rather than heal
Practice Questions
Q1
If a government decides to allocate more resources to education rather than healthcare, which of the following best describes this decision?
A trade-off.
An investment.
A misallocation.
A balanced approach.
Questions & Step-by-Step Solutions
If a government decides to allocate more resources to education rather than healthcare, which of the following best describes this decision?
Step 1: Understand that a government has limited resources, like money and time.
Step 2: Recognize that when the government chooses to spend more on education, it has less to spend on healthcare.
Step 3: Realize that choosing one area over another is called a trade-off.
Step 4: Conclude that the decision to allocate more resources to education instead of healthcare is a trade-off.
Trade-off – A trade-off occurs when a decision is made to allocate resources to one area at the expense of another, highlighting the opportunity cost involved.
