The Most Important Economic Concept to Consider When Deciding Whether

question 80

Multiple Choice

The most important economic concept to consider when deciding whether to build your own deck or hire it done is

• A)law of supply
• B)specialization
• C)opportunity cost
• D)law of increasing cost

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Definitions:

Creativity

The ability to think about something in novel and unusual ways and to devise unconventional solutions to problems.

Big Five Model

A personality framework identifying five core traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Extraversion

A personality trait characterized by outgoingness, high energy, and positive emotions; individuals tend to seek stimulation and enjoy social interactions.

Conscientiousness

A personality trait characterized by organization, dependability, and a strong sense of duty.