Economics Is A

question 9

Multiple Choice

Economics is a:

• A) social science that deals with making choices among alternatives.
• B) natural science that concerns itself with allocating relatively scarce resources among alternative ends.
• C) science that has no theories or models based on the scientific method.
• D) humanities course that mainly concerns itself with limited wants versus unlimited resources.

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Definitions:

Cultural Relativity

The need to consider the unique characteristics of the culture in which behavior takes place.

Social Context

The immediate physical and social setting in which people live or in which something happens or develops.

Situational Context

The environmental, social, or psychological circumstances that surround a specific event or situation, influencing its outcome.

DSM-5

The fifth edition of the Diagnostic and Statistical Manual of Mental Disorders, a classification and diagnostic tool for mental health professionals.