Economists Make Assumptions in Order to

question 28

Multiple Choice

Economists make assumptions in order to

• A)mimic the methodologies employed by other scientists.
• B)minimise the number of experiments that yield no useful data.
• C)minimise the likelihood that some aspect of the problem at hand is being overlooked.
• D)focus their thinking on the essence of the problem at hand.

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Definitions:

Economy

The large set of interrelated production, consumption, and exchange activities that aid in determining how scarce resources are allocated.

Salmon Processing

The industrial activity of preparing salmon for market, involving cleaning, canning, freezing, or smoking the fish.

North Coast

A generic term that refers to the northern coast of a country or region, often characterized by its geographical features or cultural attributes.

Tertiary Sector

The segment of the economy that provides services rather than producing goods, including healthcare, education, financial services, and retail.