Which of the following statements about self-interest in a market system is false?
A. Self-interest usually motivates an individual to deliver something of value to others
B. Self-interest of entrepreneurs implies seeking maximum profits or minimum losses
C. Self-interest applies only to capitalists and entrepreneurs, not to workers employed by others
D. In a market system, consumers are just like firms: self-interest is what motivates them
Answer: C
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Which of the following statements is true of an appropriate data set?
A. An appropriate data set should be collected from government registered websites. B. An appropriate data set should have enough controls to do a reasonable ceteris paribus analysis. C. An appropriate data set should not have time series units. D. An appropriate data set should not be based on surveys.
Which of the following events is the most likely to create stagflation?
A. An increase in the money supply. B. A reduction in the amount spent on national defense. C. A doubling of oil prices. D. A decrease in investment spending.