The Study of Individual Choices and Group Behaviour in Individual

question 187

Multiple Choice

The study of individual choices and group behaviour in individual markets defines

• A) microeconomics.
• B) economics.
• C) the scarcity principle.
• D) macroeconomics.
• E) the cost-benefit principle.

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Definitions:

401k Contributions

401k contributions are pre-tax or post-tax money individuals contribute to their 401k retirement savings plan, often matched by their employer to some extent.

Biweekly Paycheck

A payment method where employees receive wages every two weeks, resulting in 26 paychecks per year.

Compounded Monthly

The interest calculation method where interest is added to the principal balance monthly, leading to interest on interest.

Conservative Investment

An investment strategy focused on preserving capital and generating a reliable, but possibly lower, return.