The Economic Way of Thinking Stresses That

question 179

Multiple Choice

The economic way of thinking stresses that

• A) changes in personal costs and benefits will exert a predictable influence on the choices of human decision makers.
• B) only direct monetary costs matter in making decisions.
• C) if a good is provided free to an individual, its production will not consume valuable scarce resources.
• D) secondary effects are not important to consider when making decisions.

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Definitions:

Training

involves educating, instructing, or developing oneself or others in skills and knowledge that relate to specific useful competencies to improve performance.

Workforce

The workforce consists of all the people engaged in or available for work, either in a country or in a particular company or industry.

Women in Their 50s and Older

A demographic group facing unique life transitions and challenges, often including menopause and shifts in familial and social roles.

Men in Their Early 20s and 30s

A demographic group often focusing on career development, personal identity exploration, and establishing significant relationships.