The Four Elements of the Economic Way of Thinking Include

question 106

Multiple Choice

The four elements of the economic way of thinking include all of the following EXCEPT

• A) economists use assumptions to make things simpler and focus attention on what really matters.
• B) economic analysis often involves variables and how they affect one another.
• C) economic analysis assumes that people act irrationally and that they are not motivated by self-interest.
• D) economists often consider how a small change in one variable affects another variable.

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