The Central Question in Economics Is How to

question 159

Multiple Choice

The central question in economics is how to

• A)make the best use of scarce resources.
• B)use government planning agencies.
• C)induce people to want less.
• D)increase human knowledge.

Understand the defining characteristics and origins of fast-growth companies.

Identify and appreciate the primary advantages and considerations in operating a home-based business.

Grasp the importance of early planning stages in entrepreneurship including vision and strategy formulation.

Recognize the concept of product life cycle and market timing.

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Definitions:

Self-motivation

The ability to drive oneself to take initiative and action to pursue goals and complete tasks without external influence or pressure.

Empathy

The capability to comprehend and empathize with someone else's emotions.

Arthur Jensen

A controversial American psychologist known for his work in psychometrics and differential psychology, particularly his research on intelligence and the heritability of IQ.

IQ Tests

Standardized tests designed to measure human intelligence and cognitive abilities.