ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Self-Interest
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Profit
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Firm
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Free Enterprise
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Detailed explanation-1: -To be self-interested simply means that you seek your own personal gain. You go to work because you want to get paid so you can buy the things you want. You go to school so you can get a better job someday and earn more money to buy the things you want.
Detailed explanation-2: -SUMMARY. Modern economic theory of self-interest alleges that in their economic relations people always behave in a way that maximises their utility. The idea whether human beings were solely self-interested has a long history as it can be seen from the writings of Greek philosophers and the Church fathers.
Detailed explanation-3: -They are acting against their own economic self-interest. Its independence may encourage it to pursue a course of narrow self-interest rather than the public interest.