Fundamental tenets of economics include all of the following,except:
A)all market participants are rational
B)individuals seek to maximize utility
C)people strive to maximize benefits to their community
D)people value status,job title,love,free time
E)None of the choices are correct

Question

Quizplus · Accepted Answer

The other choices are fundamental tenets of economics, which assume that individuals act rationally and seek to maximize their own self-interest, whether it be in the form of utility, status, or leisure time. The assumption that people strive to maximize benefits to their community is not a core tenet of economics, although it may be relevant in certain contexts.

Fundamental Tenets of Economics Include All of the Following,except