Which statement is a key idea in economic thinking?
A) Scarcity exists for the poor but not for the rich.
B) Incentives matter.
C) The value of a good can be objectively measured and is the same for everyone.
D) All of these are key ideas in economic thinking.

Question

Quizplus · Accepted Answer

Incentives matter is a key idea in economic thinking. Scarcity exists for both the poor and the rich, and the value of a good can be subjective, based on individual preferences and circumstances. Therefore, D is incorrect.

Which Statement Is a Key Idea in Economic Thinking