The economic way of thinking includes all of the following principles except
A) limited human wants and unlimited resources cause scarcity of goods
B) every choice has a cost
C) people make better choices by thinking at the margin
D) economic incentives underlie the rational decisions of people

Question

Quizplus · Accepted Answer

The correct principle is that there are unlimited human wants and limited resources, which causes scarcity of goods, not the other way around as stated in option A.

The Economic Way of Thinking Includes All of the Following