Question

Select the items below that describe rational behavior in economics.

-Chooses option with greatest costs
-Maximizes benefits
-Makes a decision given certain conditions
-Applies to both consumers and producers
-Depends on the individual

Answer 1

1) Maximize benefits. This is important because we can't always conclude that we have the best material only because we had it for the greatest cost. Sometimes, we weigh our options depending on different criteria. (2) Makes the best decision given certain conditions, and lastly (3) applies to both consumers and producers.

Answer 2

From the given choices, the rational behavior in economics is to: (1) Maximize benefits. This is important because we can't always conclude that we have the best material only because we had it for the greatest cost. Sometimes, we weigh our options depending on different criteria. (2) Makes the best decision given certain conditions, and lastly (3) applies to both consumers and producers.