Economy, asked by shavonhargrove, 4 months ago

Why is the self-interest assumption useful to economists?

Answers

Answered by shristykumari8

Answer:

Economists assume that people will make choices in their own self-interest. They will choose those things that provide the greatest personal benefit, and they'll avoid or forego those that aren't as personally valuable and compelling. That's what we mean by the assumption of rationality.

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