Economics Is Best Defined as the Social Science That Studies

question 50

Multiple Choice

Economics is best defined as the social science that studies

• A) how a person can get everything he or she wants.
• B) the reason money exists.
• C) the way to eliminate choices in our decisions.
• D) the choices that societies, and the people and institutions that make up societies, make in dealing with the issue of scarcity.
• E) how choices made in the social interest must conflict with choices made in the self-interest.

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Definitions:

Atomic Sentences

Simple statements in logic that cannot be broken down further into smaller statements.

Truth Values

The valuation of statements as true or false in logic.

Truth Table

A table used in logic to determine whether a compound statement is true or false under all possible situations.

Atomic Sentences

A type of sentence that contains no logical connectors and represents the simplest form of statement that can be either true or false.