Which of the Following Statements Is True

question 416

Multiple Choice

Which of the following statements is true?

• A) Anytime you have to decide which action to take you are experiencing economic equity.
• B) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale.
• C) Every individual, no matter how rich or poor, is faced with making trade-offs.
• D) Economics is a social science that studies the trade-offs we are forced to make because resources are unlimited.

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Definitions:

Ovaries

Female reproductive organs that produce eggs and hormones, such as estrogen and progesterone.

Stereotype

A set of simplistic, rigidly held, overgeneralized beliefs about a particular type of individual or group of people, an idea, and so on.

Factual Statement

A statement that can be proven true or false, based on objective evidence.

Value Judgment

An evaluation as “good” or “bad” based on moral or ethical standards rather than objective ones.