Rational Ignorance Occurs When a Person Chooses to Be Misinformed

question 46

True/False

Rational ignorance occurs when a person chooses to be misinformed when there is a large benefit for being informed.

---

Definitions:

Triple Bottom Line

An accounting framework that incorporates three dimensions of performance: social, environmental, and financial, to measure a company's sustainability and ethical impact.

Social Responsibility

The obligation of a company to act in ways that benefit society at large, beyond its own interests and legal requirements.

Marketing Concept

The idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization’s goals.

Sustainability

Refers to the practice of meeting current needs without compromising the ability of future generations to meet theirs, emphasizing environmental, social, and economic stability.