The Rationale for Using Assumptions in Economics Is

question 25

Multiple Choice

The rationale for using assumptions in economics is:

• A)it avoids having to collect any data
• B)it is a useful way to ensure models are as realistic as possible
• C)because economics is not a science
• D)that it makes the world easier to understand

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Definitions:

Moral Competence

The ability to make choices and judgments that are ethical and in accordance with one’s values and societal norms.

Moral Performance

How an individual actually behaves when faced with moral dilemmas, as opposed to their knowledge of moral principles.

Distinction

A difference or contrast between similar things or people, often highlighting a unique feature or quality.

Social-cognitive Theorist

A scholar who focuses on how people learn by observing others, and how they control their behavior through cognitive processes.