The Four Elements of the Economic Way of Thinking Includes

question 14

Multiple Choice

The four elements of the economic way of thinking includes all of the following except:

• A) economic analysis uses the key assumption that people act irrationally and that they are not motivated by self- interest.
• B) economists use assumptions to make things simpler and focus attention on what really matters.
• C) economic analysis often involves variables and how they affect one another.
• D) economists often consider how a small change in one variable affects another variable.

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Definitions:

Contact Hypothesis

The proposal that prejudiced attitudes can decline with intergroup contact.

Inter-group Contact

This refers to situations where members of different social, ethnic, or cultural groups come into direct or indirect interaction with one another, often aimed at reducing prejudice and increasing understanding.

Prejudice

Prejudice involves preconceived negative opinions or attitudes toward people based on their membership in particular groups, often leading to discrimination and social tension.

Point System

A method of evaluation or assessment based on allocating points for various criteria or accomplishments.