Balin Purchases Fair Trade Cocoa Out of Concern for Workers

question 153

Multiple Choice

Balin purchases fair trade cocoa out of concern for workers' rights and environmental sustainability. He could purchase cocoa of equal quality at a lower price. Behavioral economists would consider Balin's purchase

• A)unusual in that it demonstrates concern for others.
• B)purely self-interested but motivated by something other than his financial well-being.
• C)as evidence that Balin is not acting purely in his self-interest.
• D)a bad decision because it ignores important information that could improve Balin's well-being.

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Definitions:

Political Scientists

Scholars who study the origin, development, and operation of political systems and public policy.

Government

The organization, or group of individuals and institutions, that has the authority to make and enforce laws and decisions for a specific community, region, or country.

Private Goods

Goods that are characteristically excludable and rivalrous, meaning their use is limited to paying customers and one person's consumption prevents another's.

Public

The general population or community at large, often the recipient of information, services, or goods provided by governments or organizations.