Questions for Review without Answers
Chapter 3. Its Subject II. Homo Economicus
I. Three Decision Models
1) What is typical of the individual decisions of homo economicus?
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2) What is game theory about?
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3) What does public choice theory analyse?
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II. Human Nature
4) What do economists mean by rationality?
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5) Distinguish situations of risk and uncertainty and give an example of each.
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6) What is the invisible hand?
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7) Do you remember the famous dog-quote?
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III. The Human Condition
8) Why are human needs supposed to be insatiable?
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IV. Man's Social Role
9) List the four characteristics of man's social role.
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V. Homo Economicus and Economics
10) Explain what non-hedonistic, revealed-preferences utilitarianism is.
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