Which of the Following Is Often Referred to as the Basic

question 158

Multiple Choice

Which of the following is often referred to as the basic postulate of economics?

• A) Individuals act only out of selfish motives.
• B) Incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.
• C) The accuracy of the assumptions is the best test of an economic theory.
• D) The value of a good is objective; it is equal to the cost of producing the good.

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Definitions:

Strategic Circumference

The boundary or scope within which strategic decisions and actions take place, defining the extent of an organization's strategic domain.

TOTAL E&P Canada

A subsidiary of the TOTAL Group, involved in exploration and production of oil and gas within Canada.

Mental Health Program

A coordinated set of activities aimed at promoting mental well-being and preventing or treating mental illness.

Fitness Program

A structured schedule of physical activities designed to improve and maintain physical fitness and overall health.