Economists Assume That Rational Behavior Is Useful in Explaining Choices

question 38

Multiple Choice

Economists assume that rational behavior is useful in explaining choices people make

• A)because irrational people do not make economic choices.
• B)even though people may not behave rationally all the time.
• C)because individuals act rationally all the time in all circumstances.
• D)even though people rarely, if ever, behave in a rational manner.

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Definitions:

Intellectual Development

The growth and change in intellectual capabilities such as learning, problem-solving, and decision-making over a person's lifetime.

Genetics

The branch of biology that deals with heredity and the variation of inherited characteristics among similar or related organisms.

Heredity

The transfer of physical or mental characteristics genetically from one generation to another.

Fraternal Twins

Twins that develop from two different eggs fertilized by two different sperm cells, resulting in siblings that are genetically distinct, similar to regular siblings.