Which of the following is part of the economic way of thinking?
A) Opportunity costs will always be incurred when scarce resources are used to produce a good.
B) When the cost of an option increases, individuals will be less likely to choose it.
C) In addition to their immediate direct effects, economic actions often generate secondary effects that are observable only after the passage of time.
D) All of the above are part of the economic way of thinking.

Question

Quizplus · Accepted Answer

The economic way of thinking includes understanding opportunity costs, the impact of cost changes on decision-making, and recognizing secondary effects of economic actions.

Which of the Following Is Part of the Economic Way