To Say That Economics Is a Way of Thinking About

question 41

Multiple Choice

To say that economics is a way of thinking about how people make rational decisions means that people

• A) don't consider the cost of their decisions.
• B) consider only monetary terms in their decisions.
• C) respond to incentives.
• D) are irrational.

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Definitions:

Inside Director

A board member who is an employee, officer, or stakeholder in the company, providing insight into internal management affairs.

Officer

An individual appointed by a company's board of directors who is charged with managing the day-to-day operations of the company.

Incorporation Process

The series of legal steps taken to form a corporate entity or company which is recognized by law as a separate legal entity from its owners.

Majority Vote

A voting requirement where more than half of the votes cast by individuals entitled to vote are needed to make a decision or pass a resolution.