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Savatey [412]
2 years ago
7

Walking to class one day, Lars finds a $5 bill lying on the sidewalk. If Lars is subject to the habit of mental accounting, how

is he MOST likely to respond?
Social Studies
1 answer:
choli [55]2 years ago
8 0

Answer:

Larry would probably take the money and ponder whether or not he should spend it or save it, and why.

Explanation:

Mental accounting refers to the various valuations that a person assigns to the same quantity of money depending on subjective criteria, which might have negative consequences. The term "mental accounting" is used to explain how humans classify, categorize, and assess economic outcomes. In practically every financial choice we make, mental accounting is at work. It causes us to cognitively divide money.

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With the options given in the question, the correct answer is C) the government sets policy for producer and consumers, which guides the economy.

<em>The option that best describes the idea of the “invisible hand” is “the government sets policy for producer and consumers, which guides the economy.” </em>

The “invisible hand” is a term coined by the economist Adrian Smith in his book “The Wealth of Nations”. It implies that in the market exist an “invisible hand” that helps the demand and supply of goods to maintain a balance.  

Observing the graphic attached, another valid affirmation that stems from the information in the graphic could be: producers and consumers work together, which guides the economy.


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Explanation:

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I hope this helps

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