The Economic Way of Thinking Stresses That

question 216

Multiple Choice

The economic way of thinking stresses that

• A) changes in personal costs and benefits generally do not influence human behavior.
• B) incentives matter--when an option becomes less costly, people will be more likely to choose it.
• C) if one individual gains from an economic activity, then someone else must lose.
• D) goods provided by government do not consume valuable scarce resources since government activity is not part of the market economy.

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Definitions:

Task Significance

The degree to which a job has a substantial impact on the lives of other people, either in the immediate organization or in the external environment.

Memo Format

A concise and formal way of communication typically used within an organization to inform or instruct employees.

Progress Reports

A document or update that provides information about the development, performance, or status of a project or activity over a period.

Sole Purpose

The primary or only reason for something's existence or a particular action or situation.