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Rational Choice Theory Quiz

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Questions and Answers

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?

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?

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?

<p>Outcomes that provide people with the greatest benefit and satisfaction</p> 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?

<p>The Invisible Hand</p> Signup and view all the answers

Rational Choice Theory Quiz

Choose a study mode

Podcast

Questions and Answers

What is the primary objective of rational individuals according to the rational choice theory?

What is the concept associated with the idea that individuals actively try to maximize their advantage in any situation?

What is the title of the book published by Adam Smith in 1776, which laid the foundation for the rational choice theory?

According to the rational choice theory, what is the expected outcome of individuals making rational decisions?

What is the concept associated with the idea that individuals' self-interested decisions lead to a socially beneficial outcome?

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