This economist believed that people acted in a way that satisfied their own economic self-interest. Which of the following economist introduced this way of thinking to society?

John Maynard Keynes
Milton Friedman
Gary Becker
Adam Smith

Answers

Answer 1
Milton Friedman is the correct anwser
Answer 2

Milton Friedman was an economist who thought that individuals behaved in ways that served their own economic self-interest. As a result, choice (B) is the best one.

What do u meant by Self-Interest?

A self-interested activity is one that results in a benefit for the self. The founder of modern economics, Adam Smith, asserts that people acting in their own self-interest are typically able to achieve the greatest economic advantage for all.

His explanation of the Invisible Hand demonstrates that when dozens or even thousands of people operate in their own self-interest, products and services are produced that are advantageous to both customers and producers.

Additionally, Smith and other economists have researched the actions of rational self-interest, which suggests that most people will act in an economically sensible manner when faced with choices that will affect their own personal income and well-being and can also support the beneficial effects of the Invisible Hand.

Learn more about Self-Interest, from :

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Related Questions

Which is not a feature of urban life​

Answers

Question

Which is not a feature of urban life​?

Impersonal relationship

PLZ BRAINLIEST + THANKS :)

Answer:

Urban life contains a lot of competition amongst the people living such a life people are literally in a rat race and they hardly have the time to build personal and deep bonds or relationships.

A graduated cylinder contains 30 mL of water. You place an object into the cylinder and the water level rises to 52mL. What is the volume of the object?

Answers

Answer: 22 ml

Explanation:

This is the Displacement method of finding the volume of an object.

It works by measuring the volume of water in a cylinder and then placing the object in the water. The new measurement is then taken and the previous measurement is deducted from it.

The difference is the volume of the object.

In this instance therefore, the volume of the object is:

= 52 - 30

= 22 ml

B. Which source contains a critique of communism and/or the Soviet Union?​

Answers

Answer:

Eventually, they concluded that the Soviet Union sought to eliminate freedom ... each argument contains a word that is key to identifying its corresponding policy. ... The former allies disagreed on many issues, but the chief source of conflict was the ... The containment of Communism had to be worldwide, because American

Explanation:

This river is found in western Africa and runs from Guinea to Nigeria.

Answers

Answer:

Niger it sounds bad. but i do believe this is it.

how does pop culture affect our society?

Answers

Answer:

pop culture affects our society by influencing what people do.. such as fashion trends and social media. hope this helped you!!

Pop culture informs how people make sense of the world. It reveals what society believes about itself, but it can also be used as an instrument for effecting social change. “It's an interface with the world and a vehicle (for) education … Studying pop culture teaches us something new by challenging us to critically consider the society we live in. The study of pop culture helps us to gain empathy by recognizing ourselves in each other.

How is the US government involved in the factor market?

Answers

Answer:

It pays wages to government employees

Answer:

Governments buy labor in the factor market to have employees help run its programs. Governments purchase goods and services from firms in the product market. Governments also collect taxes from both households and firms.

Explanation:

Which is the most important reason to consider the consequences of a wrong decision?

Answers

Answer:

You might get shunned socially, by your family or by your friends

Explanation:

how did the U.S government respond to the events of september 11 2001​

Answers

everyone came together as one. america became stronger and put more safety features around america

Answer:

They responded with immediate action.

Explanation:

What was the result of the plan for Quebec to separate from Canada?

Answers

Answer:The Quebec sovereignty movement is a political movement as well as an ideology of values, concepts and ideas that advocates independence for the Canadian ...

Explanation:

hy is only 10% of Australia’s land used for crop farming, even though over 55% of Australia’s land is used for agriculture?

A.

Agriculture is a small part of the economy; more land is needed for manufacturing, mining, and urban development.

B.

Australia has a small population, and there isn’t a need for more crops.

C.

Not all of the agricultural land is located in areas with climates suitable for crop farming.

D.

The government decides how to allocate land use.



Please select the best answer from the choices provided


A

B

C

D
help

Answers

Agriculture is a small part of the Konomi more land is needed for me fracturing meaning and urban development

1. Which statement about the Russian constitution is true?
a. It limits the power of the government.
b. It states that people have freedom of speech.
c. It prevents the right to education.
d. It states that citizens cannot own their own houses.

Answers

Answer:

B.

Explanation:

The statement which is true about the Russian Constitution is that it gives its people freedom to speech.

In Article 29 of the Russian Constitution, states the the citizen of Russia shall be guaranteed the freedom of ideas and speech. The freedom of expression and speech is the slowly eroding freedom guaranteed by the Russian constitution.

Therefore, option B is correct.

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