In economics, a game consists of:

1. Players: These are the individuals or groups who are participating in the game. They make decisions that affect the outcome of the game.

2. Rules: These are the guidelines that dictate how the game is played. They define what actions players can take, and when they can take them.

3. Payoffs: These are the outcomes that players receive at the end of the game. They are usually represented in terms of utility or profit.

So, the correct answer is "All of the above". A cricket bat, ball and a pitch of 22 yards are not related to the concept of a game in economics.

Question

In economics, a game consists of:

1. Players: These are the individuals or groups who are participating in the game. They make decisions that affect the outcome of the game.

2. Rules: These are the guidelines that dictate how the game is played. They define what actions players can take, and when they can take them.

3. Payoffs: These are the outcomes that players receive at the end of the game. They are usually represented in terms of utility or profit.

So, the correct answer is "All of the above". A cricket bat, ball and a pitch of 22 yards are not related to the concept of a game in economics.

Knowee AI · Accepted Answer

In economics, a game consists of:

1. Players: These are the individuals or groups who are participating in the game. They make decisions that affect the outcome of the game.

2. Rules: These are the guidelines that dictate how the game is played. They define what actions players can take, and when they can take them.

3. Payoffs: These are the outcomes that players receive at the end of the game. They are usually represented in terms of utility or profit.

So, the correct answer is "All of the above". A cricket bat, ball and a pitch of 22 yards are not related to the concept of a game in economics.

In economics, a game consists of:Group of answer choicesPayoffsRulesPlayersAll of the aboveA cricket bat, ball and a pitch of 22 yards.