Answer:
A) rational self-interest because he is attempting to increase his own income by identifying and satisfying someone else's wants.
Explanation:
One of economics basic premises is that human beings are rational and act on self interest. That describes both the behavior of consumers who will always try to maximize their benefits at the lowest possible cost, and entrepreneurs like Alex who will try to increase their wealth by identifying and satisfying other people's needs and wants.
Answer:
See explanation section
Explanation:
See image below to get the answer
Answer: d. fall and aggregate demand to decrease.
Explanation: When household savings increase, the consumption will fall, as the money which should be spent on consumption such as food, clothing and other products will reduce in other to foster household saving. Also, aggregate demand which is used to measure the total amount of demand for goods and services produced in an economy will also decrease as increase in aggregate demand will inadvertently lead to decrease in household saving.
Therefore, increase in savings requires reduction in spending and demand for products.
The act of assessing opportunity cost involves making choices and dealing with consequences.
<h3>What is an
opportunity cost?</h3>
This refers to the most desirable alternative given up as the result of a decision.
It is also the concept that cost of something that has to be given up to enjoy something better.
Hence, the act of assessing opportunity cost involves making choices and dealing with consequences.
Read more about opportunity cost
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Answer: (2) Friction unemployment
Explanation:
The friction unemployment is one of the type of unemployment in which the employees or workers are jobless and they are searching for the healthy and good economy.
It is also known as the searching unemployment process as it is differentiated from all the other types of unemployment. The following are the types of friction unemployment are as follows:
- Cyclical unemployment
- Structural unemployment
According to the given question, the friction unemployment is one of the development computerized job process in which the employees search the job on the basis of employee interest.
Therefore Option (2) is correct answer.
