--%>

Illustrate Rational Behaviour of Economic Perspective

Illustrate Rational Behaviour of Economic Perspective?

E

Expert

Verified

1. Rational self-interest entails making decisions to achieve maximum fulfillment of goals.

2. Different preferences and circumstances lead to different choices.

3. Rational self-interest is not the same as selfishness.

   Related Questions in Business Economics

  • Q : Production possibilities curve is a

    How a production possibilities curve is a graphical representation of choices?

  • Q : Unpredictable and frequent fluctuations

    Adam Smith attributed unpredictable and frequent fluctuations within profits to: (i) variations in the prices of the goods a firm or person produces and sells. (ii) the bad or good fortune of rivals. (iii) the good or bad fortune of customers. (iv) tr

  • Q : Basic supply determinants of other than

    Illustrate the 6 basic supply determinants of other than price?

  • Q : Illustrate the Risks involved with bonds

    Illustrate the Risks involved with bonds?

  • Q : Illustrate Professional and personal

    Illustrate Professional and personal applications?

  • Q : Resource markets in simple circular

    Can someone help me in finding out the right answer from the given options. In resource markets in a simple circular flow model, house-holds exchange their _________ for _________. (1) Resources | income. (2) Goods | profits. (3) Labor | goods. (4) Devotion | enlighte

  • Q : High-convexity portfolios outperform

    An important drawback of "traditional yield spread analysis" is the "failure to take into account future interest rate volatility that would affect the expected cash flow" of a fixed income security. How does option adjusted spread analysis correct for the "failure" of traditional yield spread analy

  • Q : Which type of maximization required in

    Productive (technical) efficiency needs maximization of the: (i) opportunity cost of a specified value of output. (ii) resources used to produce a specified value of output. (iii) value of output produced for a given total cost. (iv) satisfaction atta

  • Q : Barter - Efficiency and the Gains from

    Relative to other systems, economies in that people exchange goods or resources directly along with other people for other goods or resources without using money like a usual denominator rely relatively heavily upon: (i) barter. (ii) specialization. (

  • Q : Explain the Market System Specialization

    Explain the Market System Specialization?