Which of the following is a true statement about selfinteres

Which of the following is a true statement about self-interest as used in the study of economics?

A. Any action can be based on self-interest if the person has some reason for the action.

B. Self-interest means that people will never perform an act of charity.

C. Self-interest implies that people are selfish.

D. Self-interest means that people want greater levels of wealth more than anything else.

Solution

The answer is A, any action can be based on self interest if the person has some reason for the action.

The act for personal benefit is called self interest. The act might not be in selfishness or in intention of acquiring greater wealth. This is the general phenomena of people for thinking an act before performing it.