What is the basic premise of an opportunity cost? Question 1 options: When you buy something, you are foregoing all the other things you could have bought instead. People are more likely to spend their money when there are many opportunities to do so. When the demand for a product or service increases, the cost of that product or service also increases. A form of currency is needed to allow people in unrelated businesses to exchange services.

When you buy something, you are foregoing all the other things you could have bought instead.  

Explanation:

Opportunity cost is an economic concept that refers to the cost of giving up certain factors as a result of choosing a specific factor. In a simpler way, we can say that this concept refers to a situation, where an individual must choose a factor for a certain objective to be achieved, but the choice of that factor forces the individual to give up other factors.

An example of this can be seen when a person has to choose between buying a new sofa and running out of money to change the garage floor, or changing the garage floor, but running out of money to buy the new sofa.

for starters, there is the structural trend of rising primary government expenditure as a share of gdp, which reached 36% in 2014, up from 22% in 1991. this increase reflected a political desire to address the poverty and inequality that had gone unaddressed during previous decades. to support the increase, brazil’s government increased taxes on consumption and promoted progress toward labor-market formalization. nonetheless, public investment, particularly in infrastructure, took a hit. in fact, with the exception of the 2005-2008 period, total investment as a share of gdp has remained below 20% since 1991.

b. a system of government that provided a model for the united states.