In economics, self interest is a:
A) positive assumption.
B) normative assumption.
C) measure of value.
D) measure of greed.
Correct Answer:
Verified
Q43: Locational models predict all of the following
Q44: Building an economic model requires:
A)deriving a conclusion
Q45: Assumptions are chosen primarily because they are:
A)realistic.
B)convenient.
C)simplifications.
D)abstract.
Q46: The circular flow of economic activity reflects
Q47: Locational models cannot be used to explain:
A)the
Q49: Competition is:
A)the consequence of "more is better."
B)utterly
Q50: A market demand curve tells us how
Q51: Positive economics is an approach that:
A)requires the
Q52: Constructing an economic model requires all of
Q53: Institutions are all of the following except:
A)informal
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