Which Are Terms Used by an Economist

question 3

Multiple Choice

Which are terms used by an economist?

• A)vector spaces and axioms
• B)torts and venues
• C)ego and cognitive dissonance
• D)comparative advantage and elasticity

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Definitions:

Empathy Gap

The difficulty in understanding or predicting the feelings and needs of others, especially when there is a difference in emotional state or situation.

Prosocial Behavior

Efforts made to assist others, which involve practices like providing help, distributing, making donations, working together, and engaging in voluntary work.

Identical Twins

Twins who are genetically identical, originating from a single fertilized egg that splits into two, resulting in two individuals who share the same DNA.

High Costs

In economics and decision-making, this refers to situations where the expenses associated with an action or transaction are significant, potentially impacting the feasibility or desirability of that action.