An Economist Looks at Data That Suggests That People Are

question 27

Multiple Choice

An economist looks at data that suggests that people are making decisions that are based on rules of thumb. She concludes that people tend to make decisions that are based on habit and not on the economic decision rule. She is most likely a(n) :

• A) traditional economist.
• B) behavioral economist.
• C) irrational economist.
• D) engineering economist.

---

Definitions:

Interaction

The way in which two or more entities act upon each other or communicate, leading to an outcome or effect.

Social Cognitive Approach

A theoretical framework focusing on how people learn by observing others, and how thoughts, beliefs, and environmental factors interact to shape behavior.

Social Interactions

Exchanges between two or more individuals, involving communication, cooperation, or competition, and shaping social relationships.

Social World

The domain of human interaction and relationships, encompassing societal norms, cultures, institutions, and communities.