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How to produce and for whom to produce

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Reference no: EM131970203

Understand the underlying axiom of rationality as self interest and evaluate its analytical strengths and limitations in explaining economic behaviour. It helps solve the basic economic questions faced by all societies ie what to produce, how to produce and for whom to produce.

Why do people strive to maximise income and wealth rather than happiness. Can we maximise happiness?

Reference no: EM131970203

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