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Describe the Scientific Revolution

question 55

Essay

Describe the Scientific Revolution. Why did it begin? Who were some of the notable minds responsible for this revolution? Was there widespread acceptance of their ideas?

Illustrate how behavioral economics addresses instances where actions diverge from pure self-interest.
Analyze the impact of altruism and fairness in economic decisions.
Recognize the role of context and psychological factors in economic transactions and decisions.
Compare and contrast neoclassical and behavioral economics' predictions in various scenarios.

Definitions:

Self-Control

The capacity to control one’s feelings, cognitions, and actions when confronted with desires and sudden urges.

Social Contract Orientation

A theory in moral and political philosophy that examines the hypothetical understanding that individuals might agree to, forming the basis of societal rules and obligations.

Universal Ethical Principles

Moral principles that are considered to be universally applicable and foundational to ethical decision-making, such as justice, equality, and respect for human dignity.

Post Conventional Reasoning

A stage of moral development in which individuals make ethical decisions based on their own principles and values rather than external norms or rules.

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