Because Information Is Costly to Acquire

question 181

Multiple Choice

Because information is costly to acquire,

• A) people will rationally choose not to become fully informed when making decisions.
• B) people will generally choose to become as fully informed as possible when making decisions.
• C) people will generally choose to acquire no information that would be relevant to their decisions.
• D) none of the above are true.

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Definitions:

Modes of Transportation

Different methods or means by which people and goods can be moved from one place to another, including walking, cycling, driving, and public transit.

Growth Motive

An intrinsic drive in individuals aiming for personal improvement, mastery of skills, and self-actualization.

Self-Direction

Self-direction refers to an individual's ability to set personal goals and make choices based on personal values and preferences, often associated with autonomy.

Achievement

The successful completion or attainment of an objective or goal through effort, skill, or courage.