What Is the Fundamental Principle That Economists Use When Evaluating

question 132

Multiple Choice

What is the fundamental principle that economists use when evaluating the costs and benefits of production?

• A) supply and demand principle
• B) marginal principle
• C) cost of goods principle
• D) production principle

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Definitions:

Chemical Substance

A form of matter with a constant chemical composition and characteristic properties.

Cortisol

A steroid hormone released by the adrenal glands in response to stress or low blood-glucose concentration; often referred to as the stress hormone.

Effective Punishment

Punishment that successfully decreases or stops unwanted behaviors by applying an adverse stimulus or removing a desirable one following the behavior.

Consistent

Showing steady conformity to a pattern, belief, or attitude over time.