Author Question: A student in an economics course is aware that the three premises that the study of economics is ... (Read 91 times)

PhilipSeeMore · **on:** Jul 7, 2018

A student in an economics course is aware that the three premises that the study of economics is based upon would involve which of the following?

a. Price elasticity, choice, and scarcity
b. Scarcity, choice, and preference
c. Choice, price elasticity, and preference
d. Price elasticity, scarcity, and cost maximization

Question 2

A nurse asks an attorney specializing in health care about what constitutes negligence. Which of the following would the attorney say is needed to legally determine that a nurse has been negligent? Select all that apply.

a. The nurse had a duty to perform.
b. There was a breach of this duty, either by omission or commission.
c. There is proof that the breach of duty caused the harm.
d. The patient was not harmed.
e. There was actual harm, which can be physical, emotional, or financial, to the patient.
f. The nurse was overworked.

Mholman93 · **Reply #1 on:** Jul 7, 2018

Answer to Question 1

B
The three principles upon which the study of economics is based are scarcity (resources exist in
specific finite quantities and the consumption demand is generally greater than the supply), choice
(decisions are made about which commodities or resources to select and produce), and preference
(individual and societal influence impact which items or services are preferred and which are not).

Answer to Question 2

A, B, E
For a nurse to be found negligent, the following must occur: the nurse had a duty to perform; there was
a breach of this duty, either by omission or commission; the patient was harmed (either physically,
emotionally, or financially).