Economists Believe That Individuals Respond in a Predictable Way to Changes

question 82

Multiple Choice

Economists believe that individuals respond in a predictable way to changes in costs and benefits.The term that best describes this belief is

• A)opportunity cost
• B)demand
• C)supply
• D)scarcity
• E)rational behavior

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Definitions:

Project Teams

Groups of individuals brought together to accomplish a finite task or project within a set timeframe.

Temporary Basis

Pertaining to a limited period of time; not permanent or enduring.

Group Processors

Individuals or mechanisms that manage, direct, or facilitate the work within a group towards achieving collective goals.

Interlocking Networks

A pattern of overlapping relationships and connections among people or organizations, which can facilitate information flow and collaboration.