Figure 1.3 -In Economics, the Concept of Opportunity Cost Is

question 70

Multiple Choice

Figure 1.3

-In economics, the concept of opportunity cost is:

• A)negated by ensuring that the government has a role in a capitalist society.
• B)defined to be the highest-valued alternative that must be forgone when a choice is made.
• C)best illustrated by knowing why consumers choose one good over another.
• D)quantifiable only if you know the real dollar price of the goods and services you are giving up to consume something.
• E)the methodology that government economists use to determine the total amount of the national debt.

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Definitions:

Carl Rogers

Carl Rogers was an influential American psychologist and founder of the humanistic approach to psychology, focusing on the importance of the self and the individual's potential for growth.

State of Incongruence

A condition where there is a discrepancy between an individual's self-image and their actual experiences or attributes, often leading to internal conflict and distress.

Humanistic

An approach in psychology that emphasizes empathy and stresses the good in human behavior, focusing on the potential for self-growth.

Psychodynamic

A psychological approach that emphasizes the study of the psychological forces underlying human behavior, feelings, and emotions, and how they might relate to early experience.