Carefully Define the Following Terms, and Explain Their Importance in Economics

question 84

Essay

Carefully define the following terms, and explain their importance in economics.
a.opportunity cost
b.abstraction
c.theory
d.model
e.marginal analysis

---

Definitions:

Narcissists

Individuals with an excessive interest in or admiration of themselves, often displaying a lack of empathy for others.

Aggressive

Displaying or characterized by forceful actions or attitudes, often with the intention to dominate or control.

Social Acceptance

The degree to which an individual is accepted or approved of by a social group or society at large.

Self-presentation

The process by which individuals attempt to control the impressions others form of them, especially in social situations, through regulation of their behavior and appearance.