Asked by April Updegraff on Sep 28, 2024
Verified
_____ assumes that humans may not act rationally because of genetics, learned behavior, and rules of thumb.
A) Rational economics
B) Socialism
C) Cultural relativism
D) National culture
E) Behavioral economics
Behavioral Economics
An area of economic research that incorporates psychological insights into human behavior to explain economic decision-making.
Rational Economics
An approach to economics that assumes individuals make decisions based on logical evaluation of available information, aiming for maximum utility.
Learned Behavior
Actions or reactions that an individual acquires through experience or by being taught.
- Expound on fundamental economic principles and their importance to global business activities.
Verified Answer
Learning Objectives
- Expound on fundamental economic principles and their importance to global business activities.
Related questions
Who Argued During the 1930s That the State Could Stimulate ...
_____ Is Based Upon the Assumption That People Are Predictable ...
_____ Assume(s) That the Market, Through Its Own Inherent Mechanisms ...
What Concept Refers to Economic Theories Advocating the Creation of ...
_____ Is a Term Used by Adam Smith to Explain ...