How Does the Science of Economics Deal with the Fact

question 313

Multiple Choice

How does the science of economics deal with the fact that we all have different values?

• A) by assuming that values don't play a role in economic behavior
• B) by seeking to discover the sources of different value systems
• C) by using positive analysis
• D) by surveying the public to see what the most common values are, and then incorporating those as assumptions into their models

---

Definitions:

Audit

A systematic examination or inspection of financial records, documents, or an entity's performance to ascertain accuracy and compliance.

Contract Law

A branch of legal studies that deals with agreements between parties, their rights, and obligations.

Five-Year Renewal

Typically refers to the option or requirement to renew a contract, license, or agreement for an additional five-year period.

Mechanical Engineer

A professional who applies principles of physics and materials science for the design, analysis, manufacturing, and maintenance of mechanical systems.