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:

Self-control

The ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses.

Infant Baptism

A Christian sacrament involving the baptism of a young child, symbolizing their initiation into the faith community.

Christian Faith

A monotheistic religion based on the life and teachings of Jesus Christ, emphasizing love, redemption, and the relationship between God and humans.

Lutheran Background

A religious and cultural background stemming from the teachings and doctrines of Martin Luther, which initiated the Protestant Reformation.