Economists presume that while making a decision, individuals consider both the current action and the expected future consequences of that action.

Question

Quizplus · Accepted Answer

Economists assume that individuals engage in rational decision-making, where they weigh the costs and benefits of each possible option, taking into account not only the immediate outcomes but also the long-term consequences of their choices. This approach assumes that people are forward-looking and aim to maximize their utility over time.

Economists Presume That While Making a Decision, Individuals Consider Both