Question 1
The reasons to study economics include which of the following?
◦ to be an informed citizen
◦ to understand society
◦ to learn a way of thinking
◦ All of these
Question 2
Marginalism is
◦ the best alternative that we forgo when making a decision.
◦ the study of how societies choose to use scarce resources.
◦ a market situation in which profit opportunities are eliminated almost instantaneously.
◦ the process of analyzing the additional costs or benefits arising from a decision.
