In Economics, the Concept That Individuals Are Motivated by Self-Interest

question 15

Multiple Choice

In economics, the concept that individuals are motivated by self-interest and respond predictably to opportunities for gain is known as

• A)rational self-interest.
• B)altruism.
• C)sufficiency.
• D)empiricism.

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Definitions:

Biological Reality

The actual, factual state of living organisms and their interactions with the environment, as understood through scientific investigation.

Gold Standard

A benchmark considered the highest quality or most accurate standard against which other things are measured.

Comparative Studies

Research that compares two or more groups, methods, or systems to evaluate their differences or similarities.

Pathologized Ethnic Minorities

The process by which ethnic minority groups are prejudicially stereotyped or labeled as inherently diseased or disordered, often leading to discrimination and social injustice.