In Building a Model the Assumption That Allows Economists to Study

question 164

Multiple Choice

In building a model the assumption that allows economists to study only the factors being analyzed is the

• A) rationality assumption.
• B) ceteris paribus assumption.
• C) the self-interest assumption.
• D) the scarcity assumption.

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Definitions:

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, and surroundings.

Scientific Inquiry

The process of asking questions and conducting investigations and experiments to discover truths and facts about the natural world.

Universal Mental Characteristics

Fundamental cognitive and emotional traits that are believed to be shared among all humans regardless of culture or background.

Evolutionary

Pertaining to the process of evolution; dealing with how organisms develop and change over time according to natural selection and genetic variation.