2- Rational decision making Flashcards by Daisy Philp | Brainscape

Q

What do we assume consumers aim to maximise?

A

Utility

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What do we assume firms aim to maximise?

A

Profit

How well did you know this?

1

Not at all

2

3

4

5

Perfectly

Q

What do we assume governments aim to maximise?

A

Social welfare

How well did you know this?

1

Not at all

2

3

4

5

Perfectly