How Is It That People Working in Their Own Self-Interest

question 255

Multiple Choice

How is it that people working in their own self-interest produce goods, services, and wealth for others?

• A) By taking advantage of a vast supply of labor, people working in their own self-interest could hire others at very low wages.
• B) In order to earn money and produce goods that improve lives, self-directed gain would provide jobs, and subsequently wages for others.
• C) The government pays entrepreneurs in the U.S. to produce goods, services, and wealth for others.
• D) Entrepreneurs tend to include themselves in a group of people who need charitable support. A portion of the entrepreneur's profit (as required by law) goes to the charity of one's choice to support the less fortunate.

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Definitions:

Perceptual Set

A mental predisposition to perceive one thing and not another.

Stereotypes

Overgeneralized beliefs about a particular group or category of people that can lead to prejudiced attitudes and behaviors.

Perceptual Adaptation

In vision, the ability to adjust to an artificially displaced or even inverted visual field.

Apparent Location

The perceived position of an object or event in space, which may differ from its actual position.