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1)By definition, what is economics the study of?

A. the choices people make to attain their goals, given their scarce resources.

B. how to make money in a market economy.

C. supply and demand.

D. how to make money in the stock market.

2)Economics does not study correct or incorrect behaviors, but rather it assumes that economic agents make the best decisions given their knowledge of the costs and benefits. What term best describes this behavior?

A. emotionally

B. rationally

C. selfishly

D. equitably

3)What is the term in economics by which a group of buyers and sellers of a product come together to trade?

A. market

B. trade-off

C. collective

D. cooperative

4)If a commercial dairy farm wants to raise funds to purchase feeding...