Give an example to demonstrate how a firm acting out of self-interest to maximize its profits by offering goods or services in economic markets benefits consumers – even if it does not care about them. In other words, how does self-interest help achieve society’s economic goals?
What is the relationship between self-interest and social interest in the economic decision (economic choice) process? Is there a conflict between the two in the economic world?
Do people always make rational decisions? What are the factors that lead to bounded rationality? What are the factors that lead to irrational economic decisions?