Identify the Following Statements as Either True or False

question 247

Essay

Identify the following statements as either true or false . All integers are also rational numbers.

---

Definitions:

Completeness

A principle in consumer theory stating that consumers can rank all possible bundles of goods in terms of preference.

Transitivity

In preferences, it's the principle that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.

Nonsatiation

The assumption in economics that more of a good or service is always preferred to less, implying that there is no saturation point in consumption.

Prefer

Expressing a choice or inclination towards one option or item over another.