30

Which of the following is true?

Group of answer choices

Human choice is generally not influenced by changes in incentives.

What is true for the individual must be true for the group as a whole.

Using scarce resources to meet one need reduces our ability to meet needs in other areas.

The economic way of thinking stresses that good intentions usually lead to sound economic policy.

31

What are the three basic questions faced by every economy in the world?

Group of answer choices

What, how, and for whom will goods be produced?

When, where, and how much will be produced?

Why, where, and when will goods be produced?

How, how much, and why will goods be produced?

32

Which of the following is a characteristic of private ownership?

Group of answer choices

It creates powerful incentives for conservation and efficient use.

It ensures access to the good or resource for everyone without the owner's permission.

It fails to offer legal protection against invasion from other individuals.

It increases the difficulty in making exchanges involving large assets such as tall buildings or big ships.