Which statement is NOT one of the four principles of individual choice?
A)Choices are necessary because resources are scarce.
B)Unpaid volunteer work is irrational since economic rationality dictates that individuals should only engage in work they are paid for.
C)The true cost of something is its opportunity cost.
D)"How Much" is a decision at the margin.

Question

Quizplus · Accepted Answer

The statement "Unpaid volunteer work is irrational since economic rationality dictates that individuals should only engage in work they are paid for" contradicts the principle of individual choice which states that individuals make decisions based on their own preferences and values, not just economic rationality. Therefore, the best choice is B, which is not a principle of individual choice.

Which Statement Is NOT One of the Four Principles of Individual