Parsimonious Means

question 10

Multiple Choice

Parsimonious means :

• A) Explain phenomena by using the fewest number of causes.
• B) Following the rules of logic and consistency with known facts.
• C) Verifiable through direct observation.
• D) Broad explanatory power.

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Definitions:

Price of DVDs

The cost that consumers pay to purchase digital versatile discs used for storing data, especially movies and other multimedia content.

Economic Bad

Any item or service that results in a negative effect on the consumer's utility or well-being, opposite of an economic good.

Marginal Utility

The additional satisfaction or benefit received from consuming one more unit of a good or service.

Perfect Substitutes

Items or services that can replace each other without any decrease in value or enjoyment for the user.