SEARCH
You are in browse mode. You must login to use MEMORY

   Log in to start


From course:

Economics A Level

» Start this Course
(Practice similar questions for free)
Question:

Why do Traditional Economics assume that Economic Agents [Producers, Workers and Consumers...] act Rationally?

Author: go kys



Answer:

-This can be based on the Assumption that Economic Agents want to Maximise their Utility [Well-Being] -Different Economic Agents will have different Ways and Targets to Maximise their Utility: Consumer with Value; Producer with Profit -This means Decisions have to be made on the Basis that it will Gain the Most Utility more: Nothing else will Influence that Decision


0 / 5  (0 ratings)

1 answer(s) in total

Author

go kys
go kys