Lawrence Is a Photographer

question 14

Multiple Choice

Lawrence is a photographer.He has $230 to spend and wants to buy either a flash for his camera or a new tripod.Both the flash and tripod cost $230,so he can only buy one.This illustrates the principle that

• A)trade can make everyone better off.
• B)people face trade-offs.
• C)rational people think at the margin.
• D)people respond to incentives.

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Definitions:

Religious Beliefs

The faith or convictions related to the existence, nature, and worship of a deity or deities, and the spiritual practices and moral codes associated with such faith.

Irrational Tradition

Practices or beliefs passed down through generations that are not based on logical reasoning or scientific evidence.

Language

A system of communication using sounds, symbols, or gestures that are used by members of a community to convey meaning and facilitate interaction.

People's Experiences

The unique and subjective events, emotions, and interactions that individuals encounter in their lives.