It is assumed in economics that people make decisions based upon
A)altruism.
B)rational self-interest.
C)tradition.
D)governmental persuasion.

Question

Quizplus · Accepted Answer

The concept of rational self-interest is a fundamental assumption in economics. It suggests that individuals are motivated by their own desires and attempts to maximize their own well-being, while considering the available alternatives and potential costs and benefits of such alternatives. This assumption is a critical element in the study of microeconomics and is used to explain how consumers, firms and other economic agents interact in the market.

It Is Assumed in Economics That People Make Decisions Based