
When economists say that people are self-interested, they mean that people are
A) using their scarce resources to maximize their well-being.
B) selfish.
C) greedy for other peoples' possessions.
D) efficiently substituting market demands for complementary goods.
E) reacting to shortages by creating surpluses of socially acceptable wants and needs.
Correct Answer:
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Q1: What incentives are created under a random
Q2: The efficiency of an economic system is
Q3: Why is the market system not universally
Q5: In the long run, under which allocation
Q6: Even in the United States, not all
Q7: Which of the following is not an
Q8: Which of the following mechanisms is unfair?
A)
Q9: _ is an example of an allocation
Q10: What incentives are created under a government
Q11: Even in the United States, not all
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