Which of the Following Is an Assumption That Economists Make

question 28

Multiple Choice

Which of the following is an assumption that economists make?

• A) Most people possess entrepreneurial talent.
• B) People are very good at assessing the costs of decisions accurately.
• C) Individuals and firms will act to provide the things people want.
• D) Individuals usually fail to optimize the use of their resources because they think on the margin.

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Definitions:

Sampling Frame

A list or database from which a sample is drawn for a statistical survey, representing the population of interest.

Probability Sample

In a probability sample, the units have a known and nonzero chance of being selected.

Representative Sample

A subset of a population that accurately reflects the members of the entire population.

Self-administered Questionnaires

Surveys or questionnaires that individuals complete on their own without interviewer guidance or interference.