The Economic Way of Thinking Stresses That

question 38

Multiple Choice

The economic way of thinking stresses that

• A) changes in personal costs and benefits generally fail to exert much impact on behavior.
• B) incentives matter--individuals respond in predictable ways to changes in personal costs and benefits.
• C) if one individual gains from an economic activity, then someone else must lose and in the same proportion.
• D) if a good is provided by the government, its production will not consume valuable scarce resources.

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Definitions:

Respiratory System

The biological system that involves the process of breathing and the exchange of oxygen and carbon dioxide between an organism and its environment.

Digestive System

The system in the body responsible for breaking down food into nutrients and waste, including organs such as the stomach, intestines, and liver.

Working Tissue

The active or functioning tissue in an organ or structure, responsible for its main physiological activities.

Structure Indicated

Referring to a particular physical or anatomical part identified for study or treatment.