A Fact Based on Observable Phenomenon That Is Not Influenced

question 169

Multiple Choice

A fact based on observable phenomenon that is not influenced by differences in personal opinion is called

• A) an objective concept.
• B) a subjective concept.
• C) an unintended consequence.
• D) ceteris paribus.

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Definitions:

Costs

represent the total expenditures required to produce a good or service, including materials, labor, and overhead.

Benefits

Advantages or payments made to employees or members of insurance or social welfare programs.

Government Functions

The activities and responsibilities undertaken by a government, including legislation, law enforcement, and the provision of public goods and services.

Rights of Individuals

Legal, social, or ethical principles of freedom or entitlement; the fundamental normative rules about what is allowed or owed to people.