Which of the Following Is True

question 79

Multiple Choice

Which of the following is true?
I.A rational choice is always made in the pursuit of social interest.
II.Economics is a social science.
III.Economists try to understand how the economic world works by testing positive statements.

• A) II and III.
• B) Only I.
• C) Only II.
• D) Only III.
• E) I and II.

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Definitions:

All-You-Can-Eat Buffet

A type of meal serving format where diners pay a fixed price to consume as much food as they desire from a variety of dishes.

Marginal Utility

The change in total satisfaction or utility that a consumer derives from consuming an additional unit of a good or service.

Consumer View

Refers to the perspective or approach taken by consumers when assessing, purchasing, or using goods and services.

Cash Gifts

Money given to someone without any expectation of repayment, often as a form of financial support or to mark a special occasion.