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What action provides the most for making a rational choice?
The action that provides the most help for making a rational choice is engaging in financial planning.
Is not a tool of a rational choice?
Devising monetary policies.
Which year was rational choice theory postulated?
1974 - Repetto
How are two or more rational numbers added together?
They make a rational number.
Can pi be expressed as a rational number?
It can be rounded to 3.14, this however does not make it a rational number.
What is rational choice theory?
This is where a consumer tends to maximise utility
An example of an action that is part of making a rational choice?
Doing a cost-benefit analysis is part of making a rational decision.
List two forms that rational choice can take?
Financial planning and rational choice
What will a rational consumer does?
A rational consumer is a consumer who hesitates to be satisfied with the little amount he has. A rational consumer, therefore tries to maximises inorder to get its total utility. He might not decide to draw a scale of preference because he has alimited resources.
What is the definition of rational choice?
A rational choice is a choice that makes the most sense by society's standards. For example, when given the choice between healthy food and poison, the rational choice would be to choose the healthy food.
How do we make descisions?
Either by gut instinct or by rational, logical choice processes.
What is an example sentence using the word rational?
He was the only rational choice to vote for.She is level-headed and rational.
What action provides the most for making a rational choice?
The action that provides the most help for making a rational choice is engaging in financial planning.
Which is not a tool of rational choice?
Devising monetary policies.
Marginal analysis in decision making?
Rational choice
Is not a tool of a rational choice?
Devising monetary policies.
Examples of Rational Choice Theory?
Economic decision-making: Rational choice theory can be applied to decisions such as purchasing a car, where individuals weigh the benefits of different options against their costs to make a rational choice based on their preferences and constraints. Political behavior: Individuals may vote for a candidate based on their assessment of which one will best serve their interests, reflecting the rational choice to support the candidate who aligns most closely with their values and beliefs. Organizational behavior: Businesses may use rational choice theory to analyze decision-making processes, such as choosing between different suppliers or investment opportunities, to maximize utility and achieve organizational goals.
