Economics Is A

question 9

Multiple Choice

Economics is a:

• A) social science that deals with making choices among alternatives.
• B) natural science that concerns itself with allocating relatively scarce resources among alternative ends.
• C) science that has no theories or models based on the scientific method.
• D) humanities course that mainly concerns itself with limited wants versus unlimited resources.

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Definitions:

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, future outcomes, or possible events.

Managers

Individuals responsible for planning, directing, and overseeing the operations and employees within an organization.

Displaced Workers

Individuals who have been forced to leave their jobs due to external factors, such as economic downturns or technological changes.

Severance Pay

Severance Pay is a compensation paid to employees upon their termination of employment, typically based on the length of employment and intended to ease the transition out of the company.