Adam Smith's Behavioral Assumption About Humans Was That People

question 237

Multiple Choice

Adam Smith's behavioral assumption about humans was that people

• A)typically act irrationally.
• B)usually act in a rational, self-interested way.
• C)are consistently greedy.
• D)typically act randomly.

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Definitions:

S Corporation

A type of corporation in the United States that meets specific Internal Revenue Code requirements and is taxed differently, passing income directly to shareholders.

Shareholders

Individuals or entities that own shares in a corporation, giving them certain rights and interests in the company.

Ultra Vires Act

Actions conducted by a corporation's management or board that are beyond the scope of its powers as defined by its charter or the law.

Express and Implied Powers

Authorities of a governmental or organizational body that are explicitly stated (express) or inferred through conduct (implied).