Asked by Miladis Rivas on Apr 24, 2024
Which of the following is not one of the three fundamental concepts of economics?
A) profit maximization
B) marginalism
C) opportunity cost
D) the working of efficient markets
Opportunity Cost
The expense associated with missing out on the second-best choice while deciding among multiple possibilities.
Efficient Markets
A concept that asserts that financial markets are "informationally efficient," meaning that prices of securities reflect all available information at any given time.
- Recognize the core concepts of economics: opportunity cost, marginalism, and efficient markets.
Learning Objectives
- Recognize the core concepts of economics: opportunity cost, marginalism, and efficient markets.