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RATIONAL BEHAVIOR: The notion that people make decisions based on the desire to obtain the greatest amount of satisfaction. Rational behavior essential means that people prefer more to less. The presumption of rational behavior underlies most economic analyses, especially those applied to consumer demand theory.
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WHAT? The allocation question that determines the types and quantities of goods and services produced with society's limited resources. What goods and services are produced with society's limited resources? This is one of three basic questions of allocation. The other two are How? and For Whom?
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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AIO
Action Information Organization
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