The Ability to Use Strategies and Plans to Control One's

question 8

Multiple Choice

The ability to use strategies and plans to control one's behavior in the absence of external surveillance including inhibiting inappropriate behavior and delaying gratification is:

• A)self-regulation
• B)self-mastery
• C)integrity
• D)self-control

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Definitions:

Scarcity

The basic challenge in economics of limitless human desires within a finite resource environment.

Economic Principle

Fundamental theories or laws that underpin the operation of economies and inform decision-making.

Rational Decisions

Decision-making process that is based on making choices that result in the most optimal level of benefit or utility.

Scarcity

Is the fundamental economic problem of having seemingly unlimited human wants and needs in a world of limited resources.