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In Chapter 1 of this week’s readings, we looked at how economists assume people act in their own self-interest and that they do so rationally. The focus on self-interest is often confused with the negative term of greed. Explain how people acting in their own self-interest is actually beneficial to society as a whole. Include in your explanation what it means for people to be rational. Does this mean they don’t make mistakes?

Date Posted: 04/05/2020
Category: Economics
Due Date: 05/05/2020
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minimum of 250 words at least 2 reference(s) reading material attached.
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