Which of the following statements about self-interest in a market system is false?

A) Self-interest usually motivates an individual to deliver something of value to others.
B) Self-interest of entrepreneurs implies seeking maximum profits or minimum losses.
C) Self-interest applies only to capitalists and entrepreneurs, not to workers employed by others.
D) In a market system, consumers are just like firms: self-interest is what motivates them.

Question

Yoshi Matthews · Accepted Answer

Final Answer : C, Explanation :  Self-interest applies to all participants in a market system, including workers, not just capitalists and entrepreneurs. Workers seek to maximize their own utility, which may include higher wages, better working conditions, or more satisfying jobs.

Definitions

Learning Objectives

Learning Objectives

Related questions