What Is Behavioural Economics

question 16

Multiple Choice

What is behavioural economics?

• A) The study of how people make wealth-maximising decisions.
• B) The study of how people behave in the face of scarcity.
• C) The study of situations in which people act in ways that are not economically rational.
• D) The study of how people make decisions at the margin.

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Definitions:

K

Potassium, an essential dietary mineral and elemental metal with the atomic symbol 'K', crucial for nerve function and muscle contraction.

pH

A scale that measures how acidic or basic water-based solutions are, stretching from 0 to 14.

pH

A scale used to specify the acidity or basicity of an aqueous solution, ranging from 0 (most acidic) to 14 (most basic).

K

A symbol representing the element potassium, an essential dietary mineral and a highly reactive metal.