Egoists Maintain a General Principle of the Following Sort

question 96

Multiple Choice

Egoists maintain a general principle of the following sort:

• A) "One ought always act in others' interest"
• B) "One ought always act in one's and others' interests"
• C) "One ought always act in peer group's interest"
• D) "One ought always act in one's own interest"

Apply the principles of opportunity cost and comparative advantage to real-life scenarios.

Understand the importance of specialization and exchange in improving efficiency.

Recognize how opportunity costs influence everyday decisions, including time management.

Grasp the concept of sunk costs and their irrelevance to future economic decisions.

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Definitions:

Skeletal Muscles

Voluntary, striated muscles that are attached to bones by tendons and facilitate movement.

Reflexes

Involuntary and nearly instantaneous movements in response to a stimulus, serving as a protective mechanism for the body.

Somatic

Relating to the body, particularly the external parts and not the reproductive organs, often in contrast to psychological or mental aspects.

Oculomotor

Pertaining to the movement of the eyeball and the muscles controlling it, often in reference to the oculomotor nerve.