The Economic Way of Thinking Includes

question 134

Multiple Choice

The economic way of thinking includes:

• A) attention paid to the opportunity costs involved in any choice.
• B) the assumption that individuals choose to average out some objective.
• C) concern with the biological make up of decision makers.
• D) emphasis on how choices affect total values rather than marginal values.

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Definitions:

Line Chart

A type of chart which displays information as a series of data points called 'markers' connected by straight line segments.

Pie Chart

A circular statistical graphic divided into slices to illustrate numerical proportion.

Area Chart

A graph that plots quantitative data over time, similar to a line chart, but with the area beneath the line filled in to emphasize volume.

Scatter Diagram

A scatter diagram, or scatter plot, is a type of graph used in statistics to visually represent the relationship between two variables, with points plotted to show the value of one variable depending on the value of the other.