Asked by
Jetli The One
on Dec 12, 2024Verified
When economists say an individual displays economizing behavior, they simply mean that she is
A) making a lot of money.
B) buying only those products that are cheap and of low quality.
C) learning how to run a business more effectively.
D) seeking the lowest cost method to accomplish her objectives.
Economizing Behavior
The practice of seeking to achieve maximum utility with limited resources, leading to optimal decision making.
Lowest Cost Method
A principle of optimizing operations or production by minimizing the costs involved in the process.
Objectives
Objectives refer to the specific, measurable goals individuals or organizations aim to achieve.
- Comprehend the insufficiency of resources and the importance of frugal behavior.
Verified Answer
BG
Learning Objectives
- Comprehend the insufficiency of resources and the importance of frugal behavior.