Which of the following 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

The idea that incentives matter is a key concept in economic thinking. It means that people respond to incentives, such as rewards or punishment, when making economic decisions. The other options are not accurate or complete representations of economic thinking.

Which of the Following Is a Key Idea in Economic