Which of the Following Statements About Self-Interest in a Market

question 96

Multiple Choice

Which of the following statements about self-interest in a market system is false?

• A)Self-interest usually motivates an individual to deliver something of value to others.
• B)Self-interest of entrepreneurs implies seeking maximum profits or minimum losses.
• C)Self-interest applies only to capitalists and entrepreneurs, not to workers employed by others.
• D)In a market system, consumers are just like firms: self-interest is what motivates them.

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Definitions:

Specific Function

a distinct activity or role designed to achieve a certain objective within a larger system or organization.

Shared Values

Fundamental beliefs or ethics shared among members of an organization or group, which shape its culture and guide decision-making.

Routine Activities

Routine activities pertain to the regular, everyday tasks and behaviors that individuals engage in.

Subculture

A group of people within a larger culture who distinguish themselves through a unique set of behaviors, beliefs, or values.