Podcast
Play an AI-generated podcast conversation about this lesson
Download our mobile app to listen on the go
Get App
Questions and Answers
What is the primary objective of rational individuals according to the rational choice theory?
What is the primary objective of rational individuals according to the rational choice theory?
- To maximize their self-interest (correct)
- To minimize their losses
- To maximize their contribution to the society
- To achieve collective goals
What is the concept associated with the idea that individuals actively try to maximize their advantage in any situation?
What is the concept associated with the idea that individuals actively try to maximize their advantage in any situation?
- Rational Actors (correct)
- Maximization of Benefits
- Self-Interest
- The Invisible Hand
What is the title of the book published by Adam Smith in 1776, which laid the foundation for the rational choice theory?
What is the title of the book published by Adam Smith in 1776, which laid the foundation for the rational choice theory?
- Rational Choice Theory
- The Invisible Hand
- The Wealth of Nations
- An Inquiry Into the Nature and Causes of the Wealth of Nations (correct)
According to the rational choice theory, what is the expected outcome of individuals making rational decisions?
According to the rational choice theory, what is the expected outcome of individuals making rational decisions?
Signup and view all the answers
What is the concept associated with the idea that individuals' self-interested decisions lead to a socially beneficial outcome?
What is the concept associated with the idea that individuals' self-interested decisions lead to a socially beneficial outcome?
Signup and view all the answers
Flashcards are hidden until you start studying
