The Economic Concept That Serves as the Basis for the Study

question 236

Multiple Choice

The economic concept that serves as the basis for the study of economics is:

• A)inflation.
• B)unemployment.
• C)money.
• D)scarcity.

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Definitions:

Personality Traits

Enduring characteristics that describe an individual's behavior, mindset, and emotional patterns.

Serial-Position Effect

The tendency for individuals to recall the first and last items in a series best, and the middle items worst.

Fraternity Members

Individuals who are members of a fraternity, a social organization typically found in colleges or universities.

Retroactive Interference

The process by which newly learned information makes it harder to recall information that was learned earlier.