Author Question: One major assumption of economics is that people A) act as if they systematically pursue ... (Read 78 times)

LCritchfi · **on:** Jun 29, 2018

One major assumption of economics is that people

A) act as if they systematically pursue self-interest.
B) behave randomly without any predictable pattern.
C) are sometimes rational and sometimes irrational.
D) always pursue the interests of others.

Question 2

When misallocation of resources for production of a good results in spillover effects on third parties, there is a

A) market failure.
B) government failure.
C) legislative failure.
D) productive failure.