_________ is a decision-making process that weighs the total expected benefits of a
decision against the total expected costs, and supports the decision with the greatest
expected net benefit
a. opportunity cost
b. trade-off
c. cost/benefit analysis
d. comparative advantage
Question 2
Which of the following would be a definition for the invisible hand ?
a. corporations are like an invisible hand that guide self-interested people to
create good outcomes, without the need for any special ethical motives and
without the need for individuals to intend this result.
b. governments are like an invisible hand that guide self-interested people to
create good outcomes, without the need for any special ethical motives and
without the need for individuals to intend this result.
c. markets are like an invisible hand that guide self-interested people to create
good outcomes, without the need for any special ethical motives and without
the need for individuals to intend this result.
d. employers are like an invisible hand that guide self-interested people to
create good outcomes, without the need for any special ethical motives and
without the need for individuals to intend this result.
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