Multiple Choice
Economics is the study of
A) how to get rich by playing the stock market
B) the best ways to reduce people's wants, given the scarcity of resources
C) how rational government officials determine what goods should be produced
D) money and why it is good
E) how people use limited resources to try to satisfy unlimited wants
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In an economic model of consumer behavior,
Q3: The economic behavior of individual decision makers
Q4: Because people's wants are unlimited but resources
Q5: Economics<br>A)studies human behavior when scarcity exists and
Q6: Someone who committed the association-is-causation fallacy might
Q8: Economists classify all of the following as
Q9: Secondary effects are consequences of economic actions
Q10: According to a 2011 PayScale.com survey, the
Q11: A resource is something that<br>A)is used to
Q12: Rational economic decision makers will make a