Arrange the following concepts in the correct sequence that illustrates the decision-making process in economics based on trade-offs due to scarcity: A) Evaluate Opportunity Costs B) Identify Available Resources C) Make a Choice D) Assess Benefits and Costs

In economics, the decision-making process begins by identifying available resources. This means understanding what you have to work with, such as time, money, or materials. Next, you evaluate opportunity costs, which involves considering what you give up when you make a choice, like choosing to spend money on a new video game instead of saving it for a concert. After weighing the opportunity costs, you assess the benefits and costs of your options to see which choice gives you the most value. Finally, you make a choice based on your analysis, deciding on the option that best meets your needs or desires.