A central linchpin in the Austrian School is that it views the economic sciences primarily as a theory of:
A) the invisible hand's allocation of resources
B) human decisions/decision-making
C) human actions
D) the manner in which production function handles various choices
E) supply, demand and price mechanisms

Question

Quizplus · Accepted Answer

The Austrian School believes that economics is primarily a theory of human action, meaning that economic outcomes are a result of purposeful choices made by individuals. They argue that this approach emphasizes the subjective preferences of individuals and recognizes the limitations of trying to make macroeconomic predictions based on aggregate data.

A Central Linchpin in the Austrian School Is That It