Grades Are Low in Class and Your Professor Makes Available

question 157

Multiple Choice

Grades are low in class and your professor makes available a 10-point extra credit assignment. Most of the students turn in the assignment. This statement best represents this economic concept:

• A)The real cost of something is what you must give up to get it.
• B)"How much" is a decision at the margin.
• C)People usually exploit opportunities to make themselves better off.
• D)There are gains from trade.

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Definitions:

Reasoning

The process of thinking about something in a logical way to form a conclusion or judgment.

Egocentric Thought

a cognitive perspective where an individual perceives the world solely from their own point of view, often seen in early childhood development.

Conservation

In psychological terms, it refers to a child's ability to recognize that the quantity of a substance remains the same despite changes in its shape or container.

Centrated Thinking

A type of thought process in early childhood development where the child focuses on one salient aspect of a situation, neglecting other important factors.