Economics Is Best Defined as the Study of How Individuals

question 93

True/False

Economics is best defined as the study of how individuals decide to use limited resources in an attempt to satisfy unlimited wants.

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Definitions:

Socially Deviant

Behavior that violates the normative rules, understandings, or expectations of a society or a social group.

Social Dominance Orientation

A personal disposition characterized by the desire for one's in-group to dominate and be superior to out-groups.

Mortality

The state or condition of being subject to death; the opposite of immortality.

Worldview

The fundamental cognitive orientation of an individual or society encompassing natural philosophy, fundamental existential and normative postulates, or themes, values, emotions, and ethics.