Self-interest
A) reflects choices that are best for society as a whole.
B) reflects choices that are best for the individual who makes them.
C) has nothing to do with determining what goods are produced.
D) occurs only when wants exceed available resources.
E) cannot be used to determine how goods are produced.

Question

Quizplus · Accepted Answer

Self-interest refers to choices and actions that are motivated by the desire to benefit oneself. In an economic context, individuals are assumed to behave in their self-interest when making decisions about what goods to buy, how much to work, and how to allocate their resources. While self-interest does not necessarily align with the interests of society as a whole, it is a driving force behind many economic activities and can lead to overall economic growth and efficiency.

Self-Interest