The term "homo economicus" - economic man - sums up the fundamental assumption national economy holds of humanity as:
A) an economist who manages a household on a tight budget
B) a person who is interested in finances
C) a male economist
D) a component who rationally reacts to various economic stimuli in the economic system
E) a rational entity whose calculated decisions maximize his or her personal utility
Correct Answer:
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Q2: According to Richard Cantillon, entrepreneurs were not
Q3: According to Jean-Baptiste Say, the entrepreneur's task
Q4: Jean-Baptiste Say is the man behind Say's
Q5: Say and Cantillon launched the notion of
Q6: Economic flow or circulation was introduced by
Q8: The book discusses two opposing systems of
Q9: Evolutionary development means that something changes gradually
Q10: In this context if something is dynamic,
Q11: Static, in this context, means that something
Q12: Determinism implies that every event is predetermined,
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