Why Are Thinking Skills Important

question 1

Multiple Choice

Why are thinking skills important?

• A) The 'basics' are not enough
• B) Countries across the world are recognising a broad range of competencies are required
• C) It is the latest curriculum fad
• D) Thinking should be built upon

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Definitions:

Independently Acting Buyers

are consumers who make purchasing decisions based on their own preferences and circumstances, without coordinating with others.

Freedom to Enter

The condition in a market where new firms can enter the industry without facing prohibitive barriers or regulations.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision or choosing between options.

Diminishing Marginal Utility

The principle that as a consumer consumes more of a good or service, the additional satisfaction gained from each additional unit decreases.