Multiple Choice
Which principle underlies the economics of individual choices?
A) There are gains from trade.
B) Markets move toward equilibrium.
C) People usually respond to incentives,exploiting opportunities to make themselves better off.
D) Resources should be used as efficiently as possible to achieve society's goals.
Correct Answer:
Verified
Correct Answer:
Verified
Q68: Which statement is FALSE?<br>A)Efficiency exists when an
Q69: Gains from trade arise because of:<br>A)specialization in
Q70: Which topic is studied in macroeconomics?<br>A)the change
Q71: When a market is in equilibrium:<br>A)a person
Q72: Thinking in economic terms,when Mary Sweet-Tooth is
Q74: When people want more goods and services
Q75: Freshwater is considered a scarce good because:<br>A)not
Q76: The economic way of thinking entails:<br>A)the analysis
Q77: Katherine has a physics exam tomorrow.However,a free
Q78: Suppose small business owners decide to spend