Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 23, 2024

The assumption that people always make the best decision is interpreted to mean that, in economics, people are assumed to be _______________. A. rational b.

The assumption that people always make the best decision is interpreted to mean that, in economics, people are assumed to be _______________.

A. rational

b. optimistic

c. facing situations of scarcity

d. never satisfied

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Understanding Business

Authors: William NickelsJames McHughSusan McHugh

12th Edition

1259929434, 9781259929434

More Books

Students also viewed these Economics questions

Question

★★★★★

Imagine that you are a financial manager of a multinational corporation, like Starbucks Coffee, in charge of determining the impact of exchange rate changes on the firm. Changes in currency exchange...

Answered: 1 week ago

Question

★★★★★

What are the features expected in the macrostructure of a cast component? Explain using a sketch.

Answered: 1 week ago

Question

★★★★★

3. Are psychopaths anxious?

Answered: 1 week ago

Question

★★★★★

Review exercise-calculate net income. At the beginning of the current fiscal year, the balance sheet of Cummings Co. showed liabilities of $438,000. During the year, liabilities decreased by $72,000;...

Answered: 1 week ago

Question

★★★★★

#include #include using namespace std; class City { public: void ReadSizeAndName(); void Print() const; private: int size; string name; }; void City::ReadSizeAndName() { cin >> size; cin >> name; }...

Answered: 1 week ago

Question

★★★★★

A rocket motor shown schematically in above picture is case bonded type and has an inner motor case diameter of 12 cm. The length of each side for outer propelant grain is 5 cm and the length of each...

Answered: 1 week ago

Question

★★★★★

a) Explain how changes in the film industry led to blockbuster movies becoming more limited creatively and oriented to making money [worth 5 marks] b) Then explain how changes in industry practices...

Answered: 1 week ago

Question

★★★★★

Nike not renewing franchise agreements in Russia Reporting by Reuters; Editing by Simon Cameron-Moore and Tomasz Janowski 25 May 2022, Reuters U.S. sportswear maker Nike has not renewed agreements...

Answered: 1 week ago

Question

★★★★★

Question 1 Title: Evaluate/Asses Ford South Africa Motor Company's Corporate Social Investment Strategy/Plan over the last 5 years. Who were the beneficiaries? How did they benefit? How successful...

Answered: 1 week ago

Question

★★★★★

Mawar manufacturing provides photocopy machines. Each time the machines breakdown, the company estimates that it loses an average of RM 500 in time and service expenses. One of the alternatives in...

Answered: 1 week ago

Question

★★★★★

WHAT TO EXPECT THIS WEEK How might Ethelo achieve greater financial sustainability with their climate focused products and services when serving smaller municipalities? Section 1-Define the business...

Answered: 1 week ago

Question

★★★★★

Ricardo Limited is constructing a Power Plant which was completed on 31st December 2023. The company obtained a bank loan of R1,000,000 at a rate of 15% per annum to construct the Power Plant on 1st...

Answered: 1 week ago

Question

★★★★★

3. Choose a social incident in your local area. (a) List three points that you believe are the cause of the social incident and develop a model that shows a linear relationship. (b) What is the...

Answered: 1 week ago

Question

★★★★★

Peoples understanding of what is being said

Answered: 1 week ago

Question

★★★★★

5. Develop a circular model, with positive and negative feedback loops, showing the relationships between the following critical variables: The population of a city Industrialization Relocation ...

Answered: 1 week ago

Previous Question Next Question