--%>

Define economic assumption of rationality of three people

As per the economic assumption of rationality, there people: (w) always behave with ideal rationality. (x) never behave in erratic or random ways. (y) tend to make decisions consistent along with their goals. (z) foresee completely the effects of their actions.

Hey friends please choose one answer from the above given options.

   Related Questions in Public Economics

  • Q : Requirement of government transaction

    A federal regulation needing all government transaction to be based upon ideal information would be: (v) The surest way to create best decisions. (w) Consistent along with the ideals of Occam's razor. (x) Impossible since no computer could handle which much informatio

  • Q : Illustrate Prices of gold and silver in

    Gold and silver, both although better conductors of electricity than copper, are not generally used for household electric circuits since they are much more expensive. It illustrates prices like: (i) Information. (ii) Rationing devices. (iii) Incentiv

  • Q : Fee-simple property rights I have a

    I have a problem in economics on Fee-simple property rights. Please help me in the following question. Fee-simple property rights are a broad division of: (i) Common law. (ii) Positive externalities. (iii) Negative externalities. (iv) Public property

  • Q : Give an example of Absolute Prices When

    When the overall price level rises, then there are changes within: (i) absolute prices. (ii) subjective values. (iii) relative prices. (iv) objective prices. (v) tax rates. How can I solve my economics problems, which is related to

  • Q : Mixed economy of a market system

    Whenever compared to a mixed economy which relies primarily on the market system, the society which relies relatively greatly on brute force, queuing, and arbitrary selection tends to experience: (1) Powerful reducing returns. (2) Opportunity costs to drop. (3) Fast t

  • Q : When a free good enjoyed by people is

    A free good is something which people enjoy but that is not scarce since: (w) people can costlessly have all they want. (x) people can purchase this along  with credit without containing to immediately pay for htis. (y) luxuries

  • Q : Usefulness of Positive Economics Please

    Please help me to solve the problem that is given below: Positive economics is MOST helpful within finding if: (i) Particular economic goals are good or not. (ii) A set of national goals is desirable. (iii) Specific economic t

  • Q : Firm-production similar to output with

    When a firm could produce at least similar output with less of one resource and no additional of any other, mix of resources of the firm is technologically: (w) and economically efficient. (x) efficient, but economically inefficient. (y) inefficient, but economically

  • Q : Requirement of goods for economic

    I need a good answer on the topic of Economic efficiency. Please suggest me your suggestion that the need for economic efficiency which society should produce the goods people want is termed as: (i) allocative inefficiency. (ii) productive inefficiency. (iii) distribu

  • Q : Entry-exit of competitive firms in long

    When a typical firm in a perfectly competitive industry is earning profits, in that case: w) all firms will carry on earning profits. x) new firms will enter into the long run causing market supply to reduce, market price to rise and