Question

Explain unrealistic concept of economic man

Answer 1

Explanation:

Unrealistic concept of economic man: This definition considers economics as the study of economic man whose all activities are guided by self interest only. However, this is not always the case in real life scenarios where love, friendship also carry a lot of value.

Answer 2

Unrealistic Concept of Economic-Man

Adam Smith assumed that every human being who wants to earn money by hook or crook is known as Economic-man. The critics pointed out that almost all human beings have their own qualities of human life such as a feeling of life, experience, self-esteem, respect, trust, etc.