« previous next »

Author Question: In economics, the concept that individuals are motivated by self-interest and respond predictably to ... (Read 177 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?

Multiple experimental evidences have confirmed that at the molecular level, cancer is caused by lesions in cellular DNA.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

There are more nerve cells in one human brain than there are stars in the Milky Way.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Concept map of disease and immune system Concept map of disease and immune system
economics economics
Economics question Economics question
Economics question Economics question
Mole concept Mole concept
Compound interest Compound interest
Video: Inflammation and Fever

For a complete list of videos, visit our video library