Economics

question 5

Multiple Choice

Economics

• A)studies human behavior when scarcity exists and choices must be made
• B)provides the only reasonable explanation of how people make decisions
• C)can accurately explain all human behavior since it is based on the assumption of rationality
• D)is better at showing the way things ought to be than the other social sciences are
• E)is the only social science that can explain the existence and behavior of public institutions

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Definitions:

Assessment Technique

Methods or tools used to evaluate, measure, and understand individual or group behaviors, skills, attitudes, and abilities.

Older People

Individuals in a society who are of an advanced age, often considered to be those who are retired or beyond the typical working age.

Vital Participation

Active and meaningful engagement in life activities that are crucial for one’s well-being and satisfaction.

Erikson

Refers to Erik Erikson, a developmental psychologist known for his theory on the psychosocial development of humans, highlighting eight stages that extend from infancy to adulthood.