Which of the Following Is NOT a Key Principle of Economics

question 93

Multiple Choice

Which of the following is NOT a key principle of economics?

• A) Optimization
• B) Equilibrium
• C) Empiricism
• D) Substitution

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Definitions:

Costs

Costs refer to the monetary value of resources spent or sacrificed to achieve a specific objective or operate a business.

Benefits

Various forms of value or services that organizations provide to their employees beyond wages, such as health insurance, retirement plans, and paid time off.

Constructive Conflict

A type of conflict in which disagreement or differences are dealt with in a positive manner, leading to innovative solutions and mutual respect among parties.

Stress Reactions

The behavioural, psychological, and physiological consequences of stress.