This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: According to Max Weber, the Protestant world view that encouraged hard work and saving was crucial ... (Read 26 times)

littleanan

  • Hero Member
  • *****
  • Posts: 575
on: Jun 30, 2018
According to Max Weber, the Protestant world view that encouraged hard work and saving was crucial to industrialization and the development of capitalism. Which hypothesis is this view based on?
 
  A) The geography hypothesis B) The location hypothesis
  C) The institutions hypothesis D) The culture hypothesis

Question 2

What is meant by the term optimization? What do economists usually believe about how individuals optimize?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

okolip

  • Sr. Member
  • ****
  • Posts: 362
Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

Choosing the best option from a set of feasible alternatives is referred to as optimization. Whatever choice a person faces, economists believe that he or she is likely to try to choose optimally. Economists don't assume that people always successfully choose the best feasible option, but that people try to do so and usually do a good job with whatever potentially limited information they have. This doesn't mean that people are always perfect calculators. Instead, economists believe that people's behavior is only approximated by optimization. In other words, they believe that an agent's actual choice will sometimes differ from that person's optimal choice.


littleanan

  • Member
  • Posts: 575
Reply 2 on: Jun 30, 2018
Gracias!

Dominic

  • Member
  • Posts: 328
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

In 1864, the first barbiturate (barbituric acid) was synthesized.

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

The first documented use of surgical anesthesia in the United States was in Connecticut in 1844.

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

Approximately 70% of expectant mothers report experiencing some symptoms of morning sickness during the first trimester of pregnancy.

Fossils Give Us a View of Past Life Fossils Give Us a View of Past Life
Chronic Hunger Is Prevalent throughout the World Chronic Hunger Is Prevalent throughout the World
Dermatomes of body, anterior view Dermatomes of body, anterior view
Palpation for respiratory expansion: Anterior view Palpation for respiratory expansion: Anterior view
Satellite View of Midlatitude Cyclone Satellite View of Midlatitude Cyclone
GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering GloFish, marketed as the world’s first GM pet, are a controversial product of genetic engineering
Video: Acid-base imbalances - compensation of respiratory acidosis and alkalosis

For a complete list of videos, visit our video library