Which of the following statements about self-interest in a market system is false?In a market system, self-interest motivates workers to get a job with the best wages, benefits, or most satisfaction. Self-interest usually motivates an individual to deliver something of value to others. Self-interest of entrepreneurs implies seeking maximum profits or minimum losses. Self-interest applies only to businesses, not to consumers or the government.

Self interest is one of the core fundamentals on which market system operates.

Answered: Which of the following statements about…

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter19: Economies In Transition

Section: Chapter Questions

Problem 7SQ

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Which of the following statements about self-interest in a market system is false?

In a market system, self-interest motivates workers to get a job with the best wages, benefits, or most satisfaction.
Self-interest usually motivates an individual to deliver something of value to others.
Self-interest of entrepreneurs implies seeking maximum profits or minimum losses.
Self-interest applies only to businesses, not to consumers or the government.

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