Which of the Following Is Correct About the Economic Decisions

question 114

Multiple Choice

Which of the following is correct about the economic decisions consumers,firms,and the government have to make?

• A)Governments may face the problem of shortages but not scarcity in making economic decisions.
• B)Only individuals face scarcity; firms and the government do not.
• C)Firms and the government face scarcity,individuals only face shortages.
• D)Each faces the problem of scarcity which necessitates trade-offs in making economic decisions.

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Definitions:

Problem Space

The cognitive framework within which all possible actions, states, and goals are considered by an individual when solving a problem.

Possible Outcomes

Various end results or consequences that may occur as a result of specific actions or decisions in a given scenario.

Directed Remembering

A task in which individuals are instructed to remember information in a controlled or specific manner.

Goal-driven

Activities or behaviors that are motivated by a specific, desired outcome, often requiring planning and decision-making to achieve.