Which of the following statements about self-interest in a market system is false?
A) Self-interest usually motivates an individual to deliver something of value to others.
B) Self-interest of entrepreneurs implies seeking maximum profits or minimum losses.
C) Self-interest applies only to capitalists and entrepreneurs, not to workers employed by others.
D) In a market system, consumers are just like firms: self-interest is what motivates them.
Correct Answer:
Verified
Q102: Capitalism gets its name from the fact
Q103: The guiding function of prices tends to
Q104: In a command system,
A) self-interest motivates and
Q105: The market system is also known as
Q106: The economies of North Korea and Cuba
Q108: Laissez-faire capitalism limits the government's economic functions
Q109: The government may impose industrial safety regulations
Q110: The invisible hand refers to the many
Q111: Which of the following would not be
Q112: The main characteristics of a modern market
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents