Economic Theory

question 1

Multiple Choice

Economic theory

• A)expresses normative values
• B)invents imaginative and interesting stories
• C)predicts the behavior of a specific economic decision maker after an economic change
• D)predicts the average behavior of a group of similar economic decision makers after an economic change
• E)uses only perfect and complete information

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Definitions:

Self-Actualizing Person

An individual who realizes their potential, seeks personal growth, and fulfills their capabilities.

Unique Talents

Distinctive abilities or aptitudes that an individual possesses, setting them apart from others in specific areas of performance or creativity.

Full Potential

The highest or greatest level of performance, achievement, or utilization that an individual or entity is capable of reaching, often requiring the development of skills, talents, and abilities.

Self-Actualization

The realization or fulfilment of one's talents and potentialities, often considered as the drive to realize personal potential and self-fulfilment.