When economists say that people act as rational decision makers, that means
a. they gather all relevant information before making their purchases
b. once a pattern of behavior has been established, people tend to become set in their ways
c. people respond in predictable ways to changes in costs and benefits
d. people rarely make errors when they are permitted to make transactions
e. once made, decisions are never reversed
Question 2
Economists believe that people respond in a predictable way to changes in costs and benefits. The term that best describes this phenomenon is
a. opportunity cost
b. scarcity
c. innovation
d. marginal analysis
e. other things equal (or ceteris paribus)
Mother giraffe and calves feeding. It is mostly the females that raise young, and they may gather in
Calcium consumption is essential for all people
The energy set-point view that is the basis of many people’s thinking about hunger and eating.
People using walkers typically have a high level of mobility impairment.
Economic activity as viewed by environment and ecological economists
Survivorship curves for people in the United States in the early 20th and early 21st centuries