Asked by
Hagan Oakley
on Dec 12, 2024Verified
The economic way of thinking stresses that
A) greed is the primary motivation for human action.
B) as the benefits of an option increase, people will be more likely to choose that option.
C) an objective value can be attached to physical goods.
D) as the cost of an option decreases, people will be less likely to choose that option.
Benefits
Advantages or monetary assistance received from employment, government, or insurance.
Economic Thinking
The process of evaluating decisions based on costs, benefits, and the impact on resource allocation.
Human Action
The study of human behaviour, particularly in the context of individuals' decisions and actions in the economy.
- Understand the influence of incentives on personal and economic decision-making.
Verified Answer
SS
Learning Objectives
- Understand the influence of incentives on personal and economic decision-making.