Economics is the study of the ________ people make to attain their goals, given their ________ resources
A) decisions; household B) choices; scarce
C) purchases; unlimited D) income; available
B
Economics
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Bounded rationality suggests that
A) individuals might make "incorrect" decisions because they are unable to consider all possible options. B) individuals would rather have less choice to more choice. C) rational decisions can only be made when choices are restricted. D) individuals are happier when their choices are restricted or "bounded."
Economics
A country has a comparative advantage in producing a good when it has the lowest opportunity cost of producing that good
a. True b. False Indicate whether the statement is true or false
Economics