When a Person Makes a Choice That Is Close to but Not

question 17

Multiple Choice

When a person makes a choice that is close to but not exactly the one that leads to the best possible economic outcome,he or she is:

• A)making an irrational decision.
• B)usually ignoring opportunity costs.
• C)being overconfident.
• D)operating with bounded rationality.

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Definitions:

Fromm

A thinker and therapist who explored human freedom, ethics, and society’s impact on personality development, advocating for a balance between autonomy and belonging.

Mother Fixation

A psychoanalytic concept describing an individual's intense attachment to their mother, impacting their emotional and psychological development.

Fromm

Refers to Erich Fromm, a psychoanalyst and social philosopher who explored the interaction between psychology and society, stressing the importance of freedom, love, and being, as well as discussing the concept of escape mechanisms.

Close Relationships

Relationships characterized by strong, frequent, and diverse interdependence that lasts over a considerable period of time, such as friendships, family ties, and romantic partnerships.