Economists Use the Scientific Method and the Tools of Economics

question 130

Multiple Choice

Economists use the scientific method and the tools of economics to study

• A) only the decisions of individuals.
• B) only the decisions of business firms.
• C) only economic growth and gross domestic product (GDP).
• D) only the production possibilities curve.
• E) anything around them; the world is the economist's laboratory.

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Definitions:

Fitness

In evolutionary terms, fitness refers to an organism's ability to survive and reproduce, thereby passing on genes to the next generation.

Foraging Tactic

Strategies or methods used by animals to locate, capture, and consume food.

Optimal

Referring to the most favorable condition or level for growth, reproduction, or survival of an organism or for any specific process.

Conditional Strategy

A behavioral strategy that varies depending on an individual's conditions or environmental circumstances, suggesting flexibility in response to different situations.