Which of the following is not one of the five foundations of economics? a

Business Dec 10, 2020

Which of the following is not one of the five foundations of economics?

a. innovation

b. incentives

c. trade-offs

d. opportunity cost

e. marginal thinking

Expert Solution

a. innovation

Out of the 10 economic principles given by Mankiw, the foundations of economics incorporates incentives, trade-offs, opportunity cost, and marginal thinking but innovation is not one of the foundations of economics.

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