Among the fundamental concepts in economics are
A) opportunity cost.
B) marginalism.
C) efficient markets.
D) all of the above

Question

Quizplus · Accepted Answer

All three concepts - opportunity cost, marginalism, and efficient markets - are fundamental to economics. Opportunity cost refers to the value of the next best alternative forgone in making a decision. Marginalism is the study of the incremental changes in economic variables and their effects on decision making. Efficient markets theory suggests that markets are efficient in reflecting all available information and that it is difficult to consistently beat the market by trying to predict future movements. Therefore, all of the above options are fundamental concepts in economics.

Among the Fundamental Concepts in Economics Are