A Rational Choice Is One That

question 12

Multiple Choice

A rational choice is one that

• A) always turns out for the best for the decision maker.
• B) creates no costs for the decision maker.
• C) must be made with perfect information.
• D) uses the available resources to most effectively satisfy the wants of the person making the choice.
• E) is made in the social interest rather than the self-interest.

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Definitions:

Reinforcement

In psychology, a process by which a behavior is strengthened or increased in frequency, often through the application of a reward or the removal of a negative stimulus.

Enforced Commitment

The obligation or dedication imposed by external factors or authorities.

Social Loafing

Individuals often put in less effort when part of a group compared to when they work by themselves.

Duplication of Effort

A situation where multiple people or groups are unknowingly working on the same task or problem, leading to a waste of resources.