The Range of Topics,or Issues,that Fit Within the Definition of Economics

question 81

Multiple Choice

The range of topics,or issues,that fit within the definition of economics is

• A) limited to market activities,e.g. ,buying soap.
• B) limited to individuals and firms.
• C) extremely wide,requiring only the ideas of choice and scarcity.
• D) limited to governments and nations.
• E) very limited.

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Definitions:

Overgeneralize

Making broad generalizations from a single or few instances, often leading to inaccurate conclusions.

Legislatures

Governing bodies with the authority to make, amend, and repeal laws within a certain jurisdiction.

Experiment

A scientific procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, etc.