Examlex

Solved

Why Do People in Markets Acting in Their Own Self-Interest

question 62

Essay

Why do people in markets acting in their own self-interest tend to be efficient, whereas people in government acting in their own self-interest are not?


Definitions:

Perception Of National Character

Asking people to describe the typical member of a culture.

Individualistic Cultures

Cultures that value the independence, autonomy, and self-expression of individuals over the collective group.

Personality

An individual's characteristic pattern of thinking, feeling, and behaving, differing across people and consistent over time.

Collectivistic Society

A society that prioritizes the group over the individual, emphasizing community, cooperation, and shared values.

Related Questions