What Can Be Said About Economists in General

question 103

Multiple Choice

What can be said about economists in general?

• A)they do not try to explain people's tastes, but do try to explain what happens when tastes change.
• B)they must be able to explain people's tastes to explain what happens when tastes change.
• C)they do not believe that people's tastes determine demand and therefore ignore the subject of tastes.
• D)they believe that tastes and demand move in opposite directions.

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Definitions:

Working Backward

A problem-solving technique that identifies the final goal and the steps, in reverse order, that are necessary to reach the goal.

Sub-goals

Sub-goals are smaller tasks or objectives set as steps towards achieving a more significant goal, helping to organize and focus efforts.

Thinking

A cognitive process used to transform or manipulate information that may be either focused (i.e., solving problems with clear goals) or unfocused (i.e., invoking loosely related ideas without a clear purpose).

Information Given

The data or facts provided or available in a specific context or situation.