Question

Why do economic decisions vary from person to person even under the same circumstances?

A) The value of money is generic.
B) Utility decreases differently for different people.
C) Different people expect different returns.
D) Costs and benefits are subjective.

Answer 1

D) Costs and benefits are subjective.

Step-by-step explanation:

We say something is subjective when it's influenced by personal beliefs or feelings, rather than facts. This factor makes that even under the same circumstances, different persons take different economical decisions based on their very own experiences making the costs and benefits subjective.

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