Multiple Choice
Economics is BEST defined as the study of how
A) to classify resources used to produce final goods and services.
B) resources are apportioned to satisfy human wants.
C) people make rational decisions.
D) technology can be used to change scarce resources into free resources.
Correct Answer:
Verified
Correct Answer:
Verified
Q238: A question whose answer is based on
Q239: Why is it important for students to
Q241: Which scenario does NOT fall under the
Q242: Normative questions involve societal beliefs on what
Q244: Why is model building considered a process
Q245: Efficiency in markets is generally increased by
Q246: Private markets will typically maximize production efficiency
Q247: The basic idea of opportunity cost is
Q248: Positive questions involve the understanding of basic
Q333: What assumption about human motivation is made