The economic way of thinking is

A) a set of historical generalizations that indicates what goods should be produced.
B) a body of statistical data that indicates how an economy should be organized.
C) a set of basic concepts that helps one understand human choices.
D) a set of complex, highly abstract theories that provides persons skilled in statistics with the information necessary to tell others what choices they should make.

Economic Thinking

The analytical approach to address economic problems, considering costs and benefits in decision making.

Historical Generalizations

Broad statements derived from studying patterns and trends in history, often used to explain or predict social, political, or economic phenomena.

Statistical Data

Quantitative or qualitative information collected systematically for analysis, interpretation, and presentation for various purposes, including forecasting and decision making.