When an Act Is Performed to Benefit Another Without Expectation

question 9

Multiple Choice

When an act is performed to benefit another without expectation of one's own gain it is specifically termed:

• A) virtuous behaviour.
• B) altruistic behaviour.
• C) helping behaviour.
• D) prosocial behaviour.

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Definitions:

Diagram

A simplified representation or drawing that illustrates relationships or processes, often used in economics to demonstrate concepts or data visually.

Economic Profit

The difference between total revenues and total costs, including both explicit and implicit costs, representing the additional benefit over the next best alternative.

Market Price

The price of a commodity when sold in a competitive marketplace, reflecting the supply and demand balance.

Units

Basic measures or quantities of a product, service, or variable used in economic analysis or transactions.