« previous next »

Author Question: In economics, the concept that individuals are motivated by self-interest and respond predictably to ... (Read 162 times)

big1devin

  • Hero Member
  • *****
  • Posts: 583
on: Jun 29, 2018
In economics, the concept that individuals are motivated by self-interest and respond predictably to opportunities for gain is known as
 
  A) rational self-interest.
  B) altruism.
  C) sufficiency.
  D) empiricism.

Question 2

Economics deals with human needs. Do you agree or disagree? Why?
 
  What will be an ideal response?


scottmt

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

Disagree. The concept of needs is difficult to define objectively for each person, so that economists consider people's unlimited wants instead of their needs.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Patients who cannot swallow may receive nutrition via a parenteral route—usually, a catheter is inserted through the chest into a large vein going into the heart.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Astigmatism is the most common vision problem. It may accompany nearsightedness or farsightedness. It is usually caused by an irregularly shaped cornea, but sometimes it is the result of an irregularly shaped lens. Either type can be corrected by eyeglasses, contact lenses, or refractive surgery.

Did you know?

If you use artificial sweeteners, such as cyclamates, your eyes may be more sensitive to light. Other factors that will make your eyes more sensitive to light include use of antibiotics, oral contraceptives, hypertension medications, diuretics, and antidiabetic medications.

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Concept map Concept map
Economics Today: The Micro View, 19th Edition Economics Today: The Micro View, 19th Edition
Biology Concept Framework Biology Concept Framework
VALUATION CONCEPT & METHODOLOGIES VALUATION CONCEPT & METHODOLOGIES
Economics question Economics question
Sources of Variation in Traits Among Individuals of a Species Sources of Variation in Traits Among Individuals of a Species
Video: Cell mediated immune response to a viral infection Animation

For a complete list of videos, visit our video library