Measurement of Utility and Scientific Theory Quiz
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is the main focus of egoism?

  • Making decisions based on ethical norms
  • Making decisions based on societal benefits
  • Making decisions based on altruistic motives
  • Making decisions based on self-interest (correct)

    • What is a characteristic of enlightened egoism?

  • Having wider perspectives beyond self (correct)
  • Lacking concern for others
  • Focusing solely on personal gain
  • Being entirely self-centered

    • Why is lack of predictability a challenge for utility measurement?

  • It causes confusion in determining benefits
  • It leads to inaccurate predictions about actions (correct)
  • It affects the valuation of certain factors
  • It limits the effectiveness of the theory

    • Why can valuation of someone's life or death be very difficult?

    <p>'The accurate value of certain factors' is ambiguous</p> Signup and view all the answers

    What does egoism consider as the basis for determining what is acceptable or right?

    <p>Self-interest of the individual</p> Signup and view all the answers

    More Like This

    Utility in Economics Quiz
    10 questions

    Utility in Economics Quiz

    FascinatingTropicalRainforest avatar
    FascinatingTropicalRainforest
    Types of Utility in Economics
    8 questions

    Types of Utility in Economics

    CredibleIodine avatar
    CredibleIodine
    Measurement of Utility
    40 questions

    Measurement of Utility

    WittyApostrophe avatar
    WittyApostrophe
    Consumer Behavior and Utility Concepts
    10 questions

    Consumer Behavior and Utility Concepts

    UnboundSugilite4861 avatar
    UnboundSugilite4861
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser