Which of the following is true?
A) Human choice is generally not influenced by changes in incentives.
B) What is true for the individual must be true for the group as a whole.
C) Using scarce resources to meet one need reduces our ability to meet needs in other areas.
D) The economic way of thinking stresses that good intentions usually lead to sound economic policy.

Question

Quizplus · Accepted Answer

Using scarce resources to meet one need reduces our ability to meet needs in other areas because resources are limited, and allocating them to one purpose means they are not available for others. This is a fundamental concept in economics known as opportunity cost.

Which of the Following Is True