What is the 'fundamental promise of Economics',

A)
Natural resources will always be scarce
B)
No matter what the circumstance individual choice always involve a trade off
C)
Individuals choose the alternative for which they believed the net gains to be the greatest
D)
Individuals are capable of establishing goals and acting in a manner consistent and achievement of those goals

Correct Answer : Option (C) - Individuals choose the alternative for which they believed the net gains to be the greatest


Published On : May 20, 2021
Category : Business and Economics