Which of the Following Is Often Referred to as the Basic

question 158

Multiple Choice

Which of the following is often referred to as the basic postulate of economics?

• A) Individuals act only out of selfish motives.
• B) Incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.
• C) The accuracy of the assumptions is the best test of an economic theory.
• D) The value of a good is objective; it is equal to the cost of producing the good.

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Definitions:

Differing Speech Rate

Variation in the speed at which individuals speak, which can affect interpersonal communication and perception.

Home Energy Efficiency

Practices and technology aimed at reducing the amount of energy required to provide products and services within a home, thereby reducing energy bills and environmental impact.

Listening Process

A series of steps that involve receiving, understanding, evaluating, remembering, and responding to spoken messages.