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

question 68

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:

Stereotype Threat

The risk of confirming negative stereotypes about one's group leading individuals to underperform in areas where they fear they will be judged.

Different Colors

Varieties in the visible spectrum that result from differing qualities of light being reflected or emitted by objects.

Stereotype Threat

The risk of confirming negative stereotypes about an individual's racial, ethnic, gender, or cultural group, which can impair their performance.

Cognitive Flexibility

The mental ability to switch between thinking about two different concepts, and to think about multiple concepts simultaneously.