Beliefs and Standards That Are Considered to Be Worthwhile Are

question 32

Multiple Choice

Beliefs and standards that are considered to be worthwhile are known as:

• A) discretions.
• B) morals.
• C) ethics.
• D) values.

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Definitions:

Increasing Opportunity Cost

A principle that states as more resources are dedicated to an activity, the cost of producing an additional unit increases.

Bowed Inward

Describes a concave shape of an economic curve, such as the production possibility frontier, indicating increasing opportunity costs.

Bowed Out

A term used to describe a situation where a party withdraws from an agreement, competition, or situation.

Adaptable

The ability to adjust or modify oneself or processes to suit different conditions or environments.