A rational choice is one that
A)is made in the social interest rather than the self-interest.
B)always turns out for the best for the decision maker.
C)creates no costs for the decision maker.
D)uses the available resources to most effectively satisfy the wants of the person making the choice.
E)must be made with perfect information.

Question

Quizplus · Accepted Answer

A rational choice is one that maximizes the satisfaction of the decision-maker with the available resources. Option D states that the choice uses the available resources to most effectively satisfy the wants of the person making the choice, which aligns with the definition of a rational choice. Options A, B, and E are incorrect as they do not align with the definition of a rational choice. Option C is also incorrect because even if a decision creates no immediate costs, it may still have opportunity costs.

A Rational Choice Is One That