In the Prince,Machiavelli Argued That

question 22

Multiple Choice

In The Prince,Machiavelli argued that

• A)human behaviour is motivated by self-interest and a desire for material gain.
• B)human beings were able to understand the world through rational reflection.
• C)techniques used in the hard sciences to explain the physical world should be applied to the social world as well.
• D)ideas are not innate and that all knowledge is the result of experience.

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Definitions:

Nudges

Subtle policy shifts or design changes that steer people's behavior in predictable ways without forbidding any options or significantly changing economic incentives.

Prospect Theory

A behavioral economic theory that suggests individuals value gains and losses differently, leading to decisions that can deviate from traditional economic predictions which assume rational behavior.

Behavioral Economics

A field of economics that studies how psychological, cognitive, emotional, cultural, and social factors affect the economic decisions of individuals and institutions.

High Upfront Costs

High Upfront Costs are significant initial expenses incurred before a project, investment, or purchase begins to generate any revenues or savings, often acting as a barrier to entry.