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Generalization

question 51

Multiple Choice

Generalization:


Definitions:

Benefits

Advantages or monetary assistance received from employment, government, or insurance.

Economic Thinking

The process of evaluating decisions based on costs, benefits, and the impact on resource allocation.

Human Action

The study of human behaviour, particularly in the context of individuals' decisions and actions in the economy.

Rational Choice

A theory in economics and sociology that suggests individuals always make prudent and logical decisions that provide them with the highest amount of personal utility.

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