Question

What is more important in shaping the economic future of individuals, how they choose among the...

What is more important in shaping the economic future of individuals, how they choose among the options they face or how those options are shaped by broader social forces? Why?
Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

In shaping the economic future of the individuals it is important that individuals behave rationally by consider all the options available to the consumer and choose the most optimum option for their future. They choose among the options they face by equating the marginal utility derived from each option available to them with the cost or price they will have to pay for the option and choose the one where both are equal. These options are also shaped by broader social forces as society plays an important role in determining these options.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
chapter 8,  Shaping is an important part of how to teach a new behavior. What is an...
chapter 8,  Shaping is an important part of how to teach a new behavior. What is an example of a behavior that may require shaping? What role does differential reinforcement play in shaping this new behavior? Does punishment come into play in this process? Why or why not?
What is more important for the survival of democracy and why: high levels of economic development...
What is more important for the survival of democracy and why: high levels of economic development or pro-democratic values? Answer in 1000 words.
reflect on the relationships between economics, legislative changes, and policies and how these relationships are important...
reflect on the relationships between economics, legislative changes, and policies and how these relationships are important to the overall delivery of healthcare systems. What steps can you take to become active in shaping economic legislation or policies that impact the healthcare industry? Consider how economics will inform the decision making in your current or future position.
1. Positive economics seeks to: a) objectively explain how societies value different economic outcomes. b) determine...
1. Positive economics seeks to: a) objectively explain how societies value different economic outcomes. b) determine the most appropriate economic goals for society. c) objectively explain how the economy functions. d) determine what government economic policies are best. 2. Even though 80,000 individuals in the United States wait for kidney transplants and, for a price, there are many individuals who would be willing to supply a kidney (a healthy person can donate one kidney without any problems), it remains illegal...
Choose three of the following four (imperialism, geography, institutions and/or culture). How are those three supposed...
Choose three of the following four (imperialism, geography, institutions and/or culture). How are those three supposed to be important for development? Which are the more important and which are the less important in your opinion and why? Appropriate examples and references to assigned reading will be helpful.
Social Psychology. Theme: Social Cognitive 1. In the movie "Inside Out" what were the important concepts...
Social Psychology. Theme: Social Cognitive 1. In the movie "Inside Out" what were the important concepts illustrated? 2. How did the film illustrate the complex inter-relation of affect (emotions) and social cognitive? 3. Identify how the five emotions (SAD, JOY, ANGER, FEAR, DISGUST) were used to control Riley's life changes? How did Riley's past memories stop her from moving forward? 4. Why is it important in learning to regulate our emotions? Think of a time when your view of the...
What is the meaning of this sentence: Scarcity as faced by an individual: explain how individuals...
What is the meaning of this sentence: Scarcity as faced by an individual: explain how individuals are constrained by their income and prices they face. Please can someone explain it in more detail? Thank you
I would like more clarity on how neoclassical economic theory responds to the significant social inquiry...
I would like more clarity on how neoclassical economic theory responds to the significant social inquiry of what, how and for whom to create which products and ventures.
1. When consumers are more optimistic about future economic conditions, what happens to aggregate demand? a....
1. When consumers are more optimistic about future economic conditions, what happens to aggregate demand? a. Aggregate demand stays the same. b. Aggregate demand decreases. c. Aggregate demand increases. d. The effect is uncertain as it depends on other factors.
Please choose ONE of the essay options below to answer: 1) In the post-Civil War United...
Please choose ONE of the essay options below to answer: 1) In the post-Civil War United States, corporations grew significantly in number, size, and influence. Assess the impact of big business on the economy and politics and the responses of Americans to these changes. Confine your answer to the period 1870 to 1914 2) “Why did the farmers express discontent during 1870-1900, and what impact did their new attitudes and actions have on national politics? 3) Explain how TWO of...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT