Mataracy
VIP Contributor
Ordinarily every body have opportunity in one way or the other to make choice. Choices must be made because of scarcity .
Also a particular choice is made because that choice provides the individual making the choice the greatest satisfaction.
Who is to judge whether the option chosen by each person is, in fact,in that person's best self-interest?
The judge of whether a choice is in an individual's self-interest is the individual faced with the decisions.
Hence the issue of choice is very fundamental to economics as it affects all our life. Choice can be applied to our daily life,but the greatest choice occurs in the expenditure of one's income.
My question for everybody is that,what is choice?.
Also a particular choice is made because that choice provides the individual making the choice the greatest satisfaction.
Who is to judge whether the option chosen by each person is, in fact,in that person's best self-interest?
The judge of whether a choice is in an individual's self-interest is the individual faced with the decisions.
Hence the issue of choice is very fundamental to economics as it affects all our life. Choice can be applied to our daily life,but the greatest choice occurs in the expenditure of one's income.
My question for everybody is that,what is choice?.