________ Are Rules of Conduct That Guide People's Behavior

question 40

Multiple Choice

________ are rules of conduct that guide people's behavior.

• A)Norms
• B)Values
• C)Causalities
• D)Hypotheses

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Definitions:

Comparative Advantage

The ability of a country or entity to produce goods or services at a lower opportunity cost than others, leading to more efficient international trade.

Productive Assignment

The allocation of resources, tasks, or roles in a manner that maximizes efficiency and output in the production process.

Consumption And Investment

Components of an economy where consumption refers to the use of goods and services for immediate satisfaction, and investment involves spending on capital goods to yield future returns.

Production Possibilities Curve

A graphical representation showing the maximum combinations of goods or services that can be produced with a fixed amount of resources.