Which of the Ten Principles of Economics Does Welfare Economics

question 2

Multiple Choice

Which of the Ten Principles of Economics does welfare economics explain more fully?

• A)The cost of something is what you give up to get it.
• B)Markets are usually a good way to organize economic activity.
• C)Trade can make everyone better off.
• D)A country's standard of living depends on its ability to produce goods and services.

---

Definitions:

Need for Self-Determination

Refers to the fundamental drive of individuals to control their own actions and decisions, seeking autonomy and self-regulation in their behavior.

Need for Purposefulness

Refers to the intrinsic human motivation to have a sense of meaning and intention in one's actions and life endeavors.

Intrinsically Motivated

Being driven to act or perform tasks due to inherent satisfaction or interest in the task itself, rather than external rewards or pressures.

Intrinsic Motivation

The drive to perform an activity for its inherent satisfaction rather than for some separable consequence or reward.