Weber Made Several Important Qualifications Regarding Instrumental-Rational Thought and Action

question 77

Multiple Choice

Weber made several important qualifications regarding instrumental-rational thought and action.Which of the following is not one of them?

• A)Rationalisation refers to the way people actually think.
• B)Rationalisation refers to the ways in which daily life is organised to accommodate large numbers of people.
• C)Rationalisation does not assume better understanding or greater knowledge.
• D)When people identify a desired goal and decide on the means to achieve it, they seldom consider less profitable or slower ways to achieve it.

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Definitions:

Big Data

Extremely large data sets that may be analyzed computationally to reveal patterns, trends, and associations, especially relating to human behavior and interactions.

Reservation Price

The maximum or minimum price at which a consumer is willing to buy or sell a good or service.

Elastic Demand

A situation where the demand for a product or service significantly changes in response to a change in price.

Regulated Monopoly

A monopoly that is allowed to operate by the government under set conditions and regulations to ensure fair competition and protect consumers.