The Economic Way of Thinking Stresses That

question 216

Multiple Choice

The economic way of thinking stresses that

• A) changes in personal costs and benefits generally do not influence human behavior.
• B) incentives matter--when an option becomes less costly, people will be more likely to choose it.
• C) if one individual gains from an economic activity, then someone else must lose.
• D) goods provided by government do not consume valuable scarce resources since government activity is not part of the market economy.

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Definitions:

Computer-Mediated Communication

The exchange of messages between individuals through the use of computers, encompassing various digital platforms including email, social media, and messaging applications.

360-degree Feedback

A comprehensive feedback mechanism where employees receive confidential, anonymous feedback from the people who work around them.

Jargon

Specialized language used by a particular profession or group, often difficult for others outside the group to understand.

Unverified Belief

A conviction or opinion that is accepted without evidence or proof, often based on hearsay or assumption rather than fact.