Rational Choice Implies

question 140

Multiple Choice

Rational choice implies:

• A) the use of an economic model.
• B) making decisions aimed at achieving some predetermined goal.
• C) that only monetary costs and benefits are weighed.
• D) that the individual will never regret any action taken.
• E) that scarcity can be eliminated for that individual.

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Definitions:

Temporal Precedence

A principle stating that for one thing to cause another, the cause must occur before the effect.

Authority

Authority is the recognized power or right of an individual or organization to make decisions and enforce obedience, often within a specific domain or field.

Religious Figures

Individuals who are recognized within their religion for having roles of authority, influence, or spiritual significance.

Government Officials

Government officials are individuals who hold positions of authority and responsibility in government organizations, making decisions and implementing policies.