When a Parent Tells You Not to Study Economics Because

question 58

Multiple Choice

When a parent tells you not to study economics because it is a pointless discipline,why is he or she incorrect?

• A) The government continues to play a role in our daily lives.
• B) People have the freedom to do whatever they want, and economists have nothing to add to their decision-making process.
• C) There are not enough resources to produce all the goods and services that are wanted and needed.
• D) Economics has nothing to offer in terms of understanding the stock market.
• E) Economics has nothing to offer in terms of understanding government programs like Social Security.

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Definitions:

Implied Warranty

An unwritten guarantee that the product or service being sold will meet a certain standard of quality and reliability.

Superseding Causes

Events or circumstances that occur after the defendant's negligent act that relieve the defendant of liability because they break the causal chain between the defendant's act and the plaintiff's injury.

Defendants

Individuals or entities accused of legal wrongdoing or charged with a crime in a court of law.

Proximate Cause

The primary cause of an injury in tort law, linking the defendant's conduct to the damages suffered by the plaintiff.