No Values Are

question 28

Multiple Choice

No values are

• A) both intrinsic and instrumental at the same time.
• B) only intrinsic.
• C) neither intrinsic nor instrumental.
• D) only instrumental.

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Definitions:

Unlimited Wants

The concept in economics that human desires for goods and services exceed the available resources, leading to perpetual states of decision making and prioritization.

Economizing Behavior

The tendency of individuals or organizations to attempt to minimize costs or expenses and maximize value.

Scarce Resources

Limited natural resources that are not abundant enough to satisfy all the wants and needs of a population.

Human Choice

The decision-making process by individuals based on preferences, resources, and information available, emphasizing the role of decision in economic behavior.