An Argument Is a Claim Supported by Evidence or Reasons

question 48

True/False

An argument is a claim supported by evidence or reasons for accepting it.

---

Definitions:

Numeraire

A standard unit of measurement in economics used to express prices or monetary values, making it easier to compare different goods or services.

Pareto Optimal Allocations

Situations where no reallocation can make someone better off without making someone else worse off in an economy.

Edgeworth Box

A diagram used in microeconomics to show the distribution of resources or the outcome of trade between two parties.

Utility Function

An economic tool that describes how consumers rank different bundles of goods according to the level of satisfaction or utility those bundles provide.