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Commerce · Q913

Economics

Graduate and Post Graduate · Commerce · question 913

Q913

What is the fundamental premise of economics?

A.
Individuals are capable of establishing goals and acting in a manner consistent with achievement of those goals
B.
Natural resources will always be scarce
C.
Individuals choose the alternative for which they believe the net gains to be the greatest
Answer
D.
No matter what the circumstances, individuals choice always involve a trade-off

Answer: Option C

Solution

Answer: Option C
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