What Is the Reason That All Economic Issues and Problems

question 282

Multiple Choice

What is the reason that all economic issues and problems occur?

• A) All nations use some form of money to buy and sell goods and services.
• B) Humans are always wasteful and inefficient in production and consumption.
• C) Powerful governments are able to control production and consumption.
• D) Human wants exceed the resources available to satisfy them.
• E) People seek only their own self-interest.

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Definitions:

Immediate Setting

The direct physical environment surrounding an individual at any given time, which can influence behavior and perception.

Injunctive Norm

Social norms that dictate what is perceived as approved or disapproved behavior within a society or group.

Descriptive Norm

A norm that describes how people actually behave in a given situation, rather than how they should behave.

Injunctive Norm

A social norm that prescribes how individuals should behave in a given context, based on the approval or disapproval of others.