Economic Analysis Assumes That

question 72

Multiple Choice

Economic analysis assumes that

• A) individuals act only out of selfish motives.
• B) although individuals are at times selfish and at times unselfish, only their selfish actions may be predicted.
• C) people are basically humanitarian, and their actions are, therefore, impossible to predict.
• D) changes in the personal benefits and costs associated with a choice will exert a predictable influence on human behavior.

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Definitions:

Ethical Implications

The potential impact or consequences of actions or decisions on moral principles and standards.

Ethics Intensity

The extent to which an ethical issue demands moral reflection or action, influenced by its potential impact on stakeholders and society.

Magnitude

The size, extent, or importance of something, often indicating its significant impact or intensity.

Social Consensus

The shared, general agreement among members of a society or group on values, norms, or acceptable behaviors.