A Basic Principle of Economics Is That a Country's Standard

question 229

Multiple Choice

A basic principle of economics is that a country's standard of living depends on its

• A)quantity of physical capital.
• B)abundance of natural resources.
• C)ability to produce goods and services.
• D)ability to thrive economically without having to interact with other countries.

---

Definitions:

Attention

The process of selectively concentrating on one aspect of the environment while ignoring other things, crucial in processing information.

Gestalt Principle

A theory in psychology that emphasizes the human ability to perceive patterns, wholes, or organized structures rather than just simple summations of parts.

Closure

The psychological need to see an activity or task through to completion, or the sense of resolution or conclusion at the end of an emotional or narrative arc.

Figure-ground Principle

A perceptual grouping principle in which the mind differentiates an object (the figure) from its surrounding area (the ground).