When deciding whether to engage in an activity or how much to do, people should follow:
A) the law of supply and demand.
B) the principle of macroeconomics.
C) the marginal principle.
D) the principle of microeconomics.

Question

Quizplus · Accepted Answer

The marginal principle, which states that a decision should be made by comparing the additional benefits to the additional costs, is the most applicable principle for making individual decisions about engaging in an activity or how much to do. This principle is a fundamental concept in microeconomics. The law of supply and demand and the principle of macroeconomics are broader concepts that apply to the market as a whole, while microeconomics deals with individual behavior and decision-making.

When Deciding Whether to Engage in an Activity or How