Your Friend Jason Is Undecided About Which College to Attend

question 313

Multiple Choice

Your friend Jason is undecided about which college to attend. What would you advise him to do?

• A)Do not be hasty when making this important decision.
• B)Spend a few days at the different colleges.
• C)Ask some of your teachers or the school counselor about the different colleges.
• D)All of these are helpful suggestions.

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Definitions:

Unintended Consequences

Outcomes of a policy or action that were not foreseen or intended, often contrary to the original objectives.

Allocating Resources

The process of distributing available resources among various competing needs or projects in an efficient manner.

Invisible Hand

Adam Smith's metaphor describing the self-regulating nature of the marketplace that guides individuals to unintentionally benefit society through personal gain.

Principal-Agent Problem

A dilemma in relationships where one party (the agent) is supposed to act in the best interest of another (the principal) but may have an incentive to act in their own self-interest instead.