The Basic Postulate of Economics Indicates That Changes in Incentives

question 250

Multiple Choice

The basic postulate of economics indicates that changes in incentives influence the:

• A) actions of producers but not consumers.
• B) actions of consumers but not producers.
• C) choices of individuals only when they buy and sell goods in the marketplace.
• D) choices of individuals with regard to a wide range of activities, including those generally perceived as social or political.

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Definitions:

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