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
Q109: The government may impose industrial safety regulations
Q158: In a market system,
A)firm owners and employees
Q159: In terms of the circular flow diagram,
Q160: Q161: In a command system, Q162: Which of the following statements about the Q164: Competition in a market system denotes a Q165: By freedom of enterprise, we mean that Q166: Laissez-faire capitalism is characterized by Q167: Competition is more likely to exist when
A)self-interest motivates and commands
A)a very limited
A)there
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