Which Statement Is NOT True According to Standard Economic Theory

question 84

Multiple Choice

Which statement is NOT true according to standard economic theory?

• A)Resources are scarce when they can satisfy everyone's wants.
• B)The true cost of a choice is what you must give up to enjoy that choice.
• C)People typically make choices that will make them better off.
• D)Rational people use marginal analysis when making "how much" decisions.

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Definitions:

Shared Purpose

A common goal or vision that unites a group or organization, motivating its members towards collective action.

Virtual Meetings

Online gatherings facilitated through internet-based platforms, allowing participants to communicate and collaborate from different locations.

Travel Costs

Expenses associated with traveling for business or personal reasons, including transportation, lodging, and meals.

Employee Fatigue

Employee fatigue refers to a state of extreme tiredness or exhaustion experienced by employees, often resulting from long hours, intense workloads, or stress.