The Economic Way of Thinking Includes

question 79

Multiple Choice

The economic way of thinking includes:

• A) more attention paid to benefits rather than the costs involved in any choice.
• B) the assumption that individuals choose to maximize some objective.
• C) emphasis on how choices affect total values rather than marginal values.
• D) the notion that the world has solved the problem of scarcity.

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Definitions:

Combo Boxes

A graphical user interface element that combines a drop-down box with a text box, allowing the user to select an item from a list or type a value.

Option Group

A collection of options presented in user interfaces, where the user can select one (or sometimes multiple) options from the group.

Toggle Button

A graphical user interface element that allows the user to change a setting between two states, such as on and off.

Tab Control

A graphical user interface element that allows users to switch between different views or documents within the same window or space.