When economists say that people act rationally in their self-interest,they mean that individuals:

A) look for and pursue opportunities to increase their utility.
B) generally disregard the interests of others.
C) are mainly creatures of habit.
D) are usually impulsive and unpredictable.

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Rebecca Copple · Accepted Answer

Final Answer : A, Explanation :  Economists believe that individuals behave rationally when they seek opportunities to increase their own well-being or utility. This means that people are generally motivated by self-interest, but this does not necessarily mean that they disregard the interests of others. Rather, individuals may consider the well-being of others when making decisions if it benefits their own interests, such as in the case of reciprocal behavior or social norms. The idea of rational self-interest is a core assumption of many economic models and helps explain a wide range of behaviors and outcomes in economic theory.

When economists say that people act rationally in their self-interest,they mean that individuals:

A) look for and pursue opportunities to increase their utility.
B) generally disregard the interests of others.
C) are mainly creatures of habit.
D) are usually impulsive and unpredictable.

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Learning Objectives

Related questions

When economists say that people act rationally in their self-interest,they mean that individuals:A) look for and pursue opportunities to increase their utility.B) generally disregard the interests of others.C) are mainly creatures of habit.D) are usually impulsive and unpredictable.

Definitions

Learning Objectives

Learning Objectives

Related questions

When economists say that people act rationally in their self-interest,they mean that individuals:

A) look for and pursue opportunities to increase their utility.
B) generally disregard the interests of others.
C) are mainly creatures of habit.
D) are usually impulsive and unpredictable.