Rational Behaviour Flashcards by Ollie Gibb

Q

What are the 4 main economic agents

A

Consumers
Firms
Government
workers

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Q

What do rational consumers wish to maximise

A

Satisfaction

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Q

What do firms wish to maximise

A

Profits

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Q

What do government wish to maximise

A

Social and economic welfare of citizens

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Q

What do workers wish to maximise

A

Benefits of work

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