A Fundamental Aspect of Economics Is to

question 188

Multiple Choice

A fundamental aspect of economics is to

• A)ensure that every firm makes a profit.
• B)analyze how choices are made.
• C)satisfy all our wants.
• D)make sure that our resources will always be unlimited.

---

Definitions:

Special-Interest Groups

Organizations or collectives that advocate for specific causes, policies, or objectives, often seeking to influence public policy and opinion.

Policymakers

Individuals or entities responsible for making the rules and guidelines that govern societal operations, often within government bodies or institutions.

Efficient Outcomes

Results or solutions in which resources are allocated in the most effective way, maximizing benefits and minimizing costs.

Preferences

Refers to the subjective tastes and desires of consumers which influence their choices and decision-making in purchasing goods and services.