Which of the Following Is Part of an Economic Model

question 227

Multiple Choice

Which of the following is part of an economic model?

• A)norms
• B)hypotheses
• C)opinions
• D)preferences of economic agents

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Definitions:

Voluntarily Assumed the Risk

A legal principle where an individual knowingly and willingly takes on a risk, thereby limiting their right to sue for any resulting injuries.

Defective Brakes

A fault or flaw in a vehicle's brake system that can lead to failure in stopping the vehicle and increase the risk of accidents.

Recover

The act of getting something back that was lost or taken away.

Strict Liability

A legal principle that holds parties responsible for damages or harm caused by their actions, without the need for proving negligence or fault.