Which of the Following Is Part of the Economic Way

Multiple Choice

Which of the following is part of the economic way of thinking?

A) When an option becomes less beneficial, individuals will become more likely to choose it.
B) Costs are incurred whenever scarce resources are used to produce goods or services.
C) The value of a good is determined by its cost of production.
D) Both a. and b. are part of the economic way of thinking.