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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:

Self-Report Inventories

Psychological assessment tools in which individuals provide subjective responses to questions about their own behaviors, thoughts, and feelings.

Orientation of Locus

The focus or positioning of control believed by a person to reside either internally within themselves or externally in the environment.

College Students

Individuals enrolled in a college or university program, who are often subject to unique social, academic, and developmental experiences.

Internal

Relating to or situated on the inside; internal processes or factors occur within an entity or organization.

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