Asked by abdulbaset charsi on Apr 29, 2024
Verified
Economists contend that most economic decisions are:
A) random.
B) chaotic.
C) spontaneous.
D) purposeful.
Economic Decisions
The choices made by individuals, households, or organizations regarding the allocation of resources and the distribution of goods and services.
Purposeful
Refers to actions undertaken with a specific goal or intention in mind.
Spontaneous
Occurring without external cause or premeditation, often resulting from a natural inclination or impulse.
- Recognize the purposeful nature of economic decisions.
Verified Answer
MC
Mahak ChhajedMay 05, 2024
Final Answer :
D
Explanation :
Economists believe that individuals make decisions purposefully, based on the incentives and constraints they face. They make choices by considering the costs and benefits, and try to maximize their utility or satisfaction. Therefore, purposeful choices drive most economic decisions.
Learning Objectives
- Recognize the purposeful nature of economic decisions.