The Concept of Scarcity Applies Both to Bill Gates and a Homeless

question 34

Multiple Choice

The concept of scarcity applies both to Bill Gates and a homeless person because

• A) both have the same legal rights.
• B) they have the same access to the markets for goods and services.
• C) there are only 24 hours in the day for both of them.
• D) they are both consumers.
• E) both must breathe air in order to live.

Understand the goals of behavioral science (description, prediction, determination of causes, explanation).

Recognize cognitive biases and their impact on perceptions and conclusions.

Identify the influence and implications of scientific research on society and policy.

Comprehend the importance of testability and empirical support in validating scientific ideas.

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First Draft

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The practice of quickly writing down thoughts, concepts, or plans, often in a rough and unstructured manner, to capture fleeting ideas.