The Individuals and Society Both Face an Economic Problem

question 132

Multiple Choice

The individuals and society both face an economic problem.This problem arises from the fact that:

• A)wants are limited but the resources are not.
• B)resources are scarce relative to individual's wants.
• C)individuals and institutions behave only in their self-interest.
• D)both wants and resources are unlimited.

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Definitions:

Hypothesis

A proposed explanation made on the basis of limited evidence as a starting point for further investigation, often testable by experimentation or further observation.

Conclusion

The end or finish of an event, process, or text, often summarizing the main points or outcomes.

Psychoanalytic Theory

A body of theories originating from the work of Freud that focuses on the influence of the unconscious mind on behavior, feelings, and thoughts.

Behaviorism

A psychological approach that emphasizes the study of observable behaviors and the processes of learning, disregarding the importance of mental states.