Which of the Following Statements Is/are CORRECT

question 33

Multiple Choice

Which of the following statements is/are CORRECT?
1) Atoms are the smallest particles of an element that retain the element's chemical properties.
2) Substances composed of only one type of atom are classified as elements.
3) Of the 118 known elements,only 48 occur naturally.

• A) 1 only
• B) 2 only
• C) 3 only
• D) 1 and 2
• E) 1,2,and 3

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Definitions:

Imperfect Information

A situation where economic decision-makers do not have complete information or have misinformation, affecting their decisions.

Individual Preferences

refers to the specific desires, choices, and priorities of an individual, especially regarding consumption of goods and services.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used simultaneously by more than one person without diminishing the value or availability to others.

Lack Perfect Information

A market condition where all participants do not have equal or complete information, affecting their decision-making.