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In terms of Becker's understanding of human behavior, what can be seen as utility maximizing?
Random actions
Only economically-driven actions
Many different types of actions
Only actions with explicit goals
Answer
According to Becker, human behavior can be understood in terms of utility maximization. This means that people make choices in order to maximize their happiness or satisfaction. Many different types of actions can be seen as utility maximizing, including working, buying goods and services, and engaging in social relationships.
The Brilliant Mind of Gary Becker: An Engaging English Quiz on the Pioneering Economist!
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Which other economist followed Becker in the list of favorite economists over 60 in the 2011 survey?
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Becker's approach to human behavior incorporated what key aspect?
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Who referred to Becker as "the most important social scientist in the past 50 years"?
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