In General,which of the Following Statements Is an Accurate Description

question 123

Multiple Choice

In general,which of the following statements is an accurate description of economists' assumptions about households? Households

• A)make consistent decisions,maximize utility,and are the principal owners of the factors of production.
• B)do not make consistent decisions,maximize satisfaction,and are the principal owners of the factors of production.
• C)make consistent decisions,maximize profits,and are the principal users of the factors of production.
• D)do not make consistent decisions,maximize profits,and are the principal users of the factors of production.
• E)make consistent decisions,maximize savings,and are the principal users of the factors of production.

---

Definitions:

Capital Goods

Long-lasting goods acquired by businesses to create goods and services, as opposed to being directly consumed by consumers.

Opportunity Cost

The act of losing potential profits from other pathways when one route is taken.

Economic Models

Simplified frameworks used to illustrate and analyze economic processes, behaviors, or theories, often employing mathematical formulas to predict economic outcomes.

Economic Policy

Strategies and measures adopted by governments or economic institutions to regulate and guide the economy towards desired goals.