Asked by Caroline Zoufaly on Jun 22, 2024
Verified
Among the fundamental concepts in economics is
A) opportunity cost.
B) marginalism.
C) efficient markets.
D) all of the above
Efficient Markets
Financial markets where prices fully reflect all available information.
Marginalism
The process of analyzing the additional or incremental costs or benefits arising from a choice or decision.
- Acknowledge the key concepts within economics, involving opportunity cost, marginal utility theory, and the efficiency of market systems.
Verified Answer
GM
Gurwinder MultaniJun 27, 2024
Final Answer :
D
Explanation :
All of the options listed - opportunity cost, marginalism, and efficient markets - are fundamental concepts in economics. Opportunity cost refers to the cost of the next best alternative when a decision is made; marginalism focuses on the additional or incremental changes in economic variables; and the efficient market hypothesis suggests that financial markets are "informationally efficient," meaning that asset prices fully reflect all available information.
Learning Objectives
- Acknowledge the key concepts within economics, involving opportunity cost, marginal utility theory, and the efficiency of market systems.