Which of the Following Statements Is CORRECT

question 31

Multiple Choice

Which of the following statements is CORRECT?

• A)Resource scarcity is not a major concern in the rich countries of the world.
• B)Some opportunity costs are zero.
• C)An economic situation is in equilibrium when no individual would be better off taking a different action.
• D)Some very talented, skilled individuals who can do everything better than most people should not specialize in doing any one thing.

---

Definitions:

Ethical Leadership

The practice of leading and making decisions in a manner that is morally right and respects the dignity and rights of all stakeholders involved.

Hedonism

A philosophy that considers the pursuit of pleasure and the avoidance of pain as the highest good or primary goal in life.

Ethical Leadership

The practice of guiding and influencing others based on universally accepted moral principles, fostering an environment of trust and accountability.

Transcendence

The ability or act of going beyond ordinary limits, often referring to personal growth, spiritual awakening, or surpassing traditional ideas.