Which of the Following Is a Guidepost to Economic Thinking

question 51

Multiple Choice

Which of the following is a guidepost to economic thinking?

• A) The value of a good can be objectively measured.
• B) Individuals should never make a decision without having complete information.
• C) Incentives matter.
• D) Goods are scarce for the poor but not for the rich.

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Definitions:

Organizational Sustainability

Involves the ability of an organization to maintain its operations and growth over the long term, balancing economic, environmental, and social responsibilities.

Program Evaluation

The systematic method for collecting, analyzing, and using information to answer questions about projects, policies, or programs and their effectiveness and efficiency.

Labour Need

The requirement for a specific number and type of employees to perform tasks within an organization.

Forecast Demand

The process of estimating the future demand for goods and services within a market, often used for strategic planning and resource allocation.