Which of the Following Statements Is Correct About the Economic

question 202

Multiple Choice

Which of the following statements is correct about the economic way of thinking?

• A) If the buyer of a good gains, the seller must lose an equal amount.
• B) The value of goods is objective; it is equal to the cost of supplying the good.
• C) Opportunity costs will always be incurred when scarce resources are used to produce a good.
• D) Changes in incentives generally have no effect on human behavior.

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Definitions:

Photosynthesis

The process by which green plants and some other organisms use sunlight to synthesize nutrients from carbon dioxide and water.

Electron Transport Chain

A series of complexes that transfer electrons from electron donors to electron acceptors via redox reactions, and couples this electron transfer with the transfer of protons across a membrane.

Objective C

The programming language most often used to program applications to run under OS X.

Apple MacOS

The operating system developed by Apple Inc. for its line of Macintosh computers, known for its distinctive user interface.