You Decide to Join the Economics Club,but This Means You

question 39

Multiple Choice

You decide to join the economics club,but this means you can't join the accounting club because it meets at the same time.Which economic principle does this statement BEST represent?

• A) The true cost of something is its opportunity cost.
• B) "How much" is a decision at the margin.
• C) People usually respond to incentives,exploiting opportunities to make themselves better off.
• D) There are gains from trade.

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Definitions:

Negative Emotions

Unpleasant responses to potential threats or dangers, including subjective states like sadness, disgust, anger, guilt, and fear.

Fight or Flight

A physiological response to perceived threat or harm, preparing the body to either confront or avoid danger.

Positive Subjective Experiences

Personal experiences that evoke good feelings, satisfaction, or pleasure.

Sensual Pleasures

Enjoyments derived from gratifying sensory experiences, often related to touch, taste, smell, sound, and sight.