The Central Question in Economics Is How To

question 19

Multiple Choice

The central question in economics is how to:

• A) deal with the problem of scarcity.
• B) change government economic policy.
• C) change people's wants to match their needs.
• D) manage money and become wealthy.

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Definitions:

Altruism

Selfless concern for the well-being of others, often leading to actions benefitting someone other than oneself.

Equity

The principle of fairness or justice in the way people are treated, including the distribution of resources or treatment based on needs and merits.

Over Benefited

A condition in which an individual perceives receiving more from a relationship or exchange than they contribute to it.

Under Benefited

A feeling or situation where an individual perceives they are receiving less reward than they deserve compared to others.