The Economic Way of Thinking Is

question 129

Multiple Choice

The economic way of thinking is

• A) a set of historical generalizations that indicates what goods should be produced.
• B) a body of statistical data that indicates how an economy should be organized.
• C) a set of basic concepts that helps one understand human choices.
• D) a set of complex, highly abstract theories that provides persons skilled in statistics with the information necessary to tell others what choices they should make.

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Definitions:

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A term used to describe a female partner in a romantic or sexual relationship.

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A psychological phenomenon where an individual experiences discomfort due to holding conflicting beliefs, attitudes, or values, often leading to changes in one of them to reduce the dissonance.

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An individual who has been drafted into military service, often compulsory and without the option to choose.

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An individual who regularly inhales smoke from substances such as tobacco through cigarettes, pipes, or cigars.