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Economics Basics Quiz

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Which of the following best defines rational behavior?

Weighing benefits and costs before selecting the most attractive option (correct)

Selecting the option that benefits others the most

Making decisions based on emotions

Selecting the least attractive option

What is the main economic problem faced by individuals and societies?

Unlimited resources and unlimited wants

Unlimited resources and limited wants

Limited resources and limited wants

Limited resources and unlimited wants (correct)

What are economic resources?

Items used in all types of production, except for human resources

Items used in production that are not scarce

Items used in production that are not essential

Items used in all types of production, including natural, capital, and human resources (correct)

Economics Basics Quiz

Choose a study mode

Podcast

Questions and Answers

Which of the following best defines rational behavior?

What is the main economic problem faced by individuals and societies?

What are economic resources?

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