Economists Often Analyze the Interaction of Individuals and Firms in Markets.Economists

question 67

Multiple Choice

Economists often analyze the interaction of individuals and firms in markets.Economists also examine the actions of individuals and firms as they attempt to use government to make themselves better off at the expense of others, a process that is referred to as

• A)rent seeking.
• B)logrolling.
• C)government failure.
• D)the public choice initiative.

---

Definitions:

Nonfunctionality

The state of being without a specific function or not operating in a normal or intended manner.

Irreversibility

A concept in cognitive development where the understanding that certain processes cannot be undone or returned to their original state is lacking.

Noncorporeal Continuation

The view that some form of life and personal continuity exists after the physical body has died.

Biological Causality

The study of biological processes and phenomena and their causes and effects.