Which of the following is most accurate about economists' view of purposeful behavior?

• A. People always make perfect decisions without any mistakes.
• B. Purposeful behavior means individuals always act in the interest of society as a whole.
• C. Individuals weigh costs and benefits to make decisions that maximize their utility.
• D. Economists believe people act randomly without any consideration of outcomes.

Answer: (C)

Verified step by step guidance

1. Understand the concept of purposeful behavior in economics: it refers to individuals making decisions by considering the expected benefits and costs to maximize their satisfaction or utility.
2. Recognize that economists do not assume people make perfect decisions without mistakes; rather, they assume people try to make the best possible decisions given the information and constraints they face.
3. Note that purposeful behavior does not imply individuals always act for the benefit of society as a whole, but rather for their own self-interest or utility maximization.
4. Eliminate options that suggest random behavior or perfect decision-making, as these do not align with the economic assumption of rational choice under constraints.
5. Conclude that the most accurate statement is that individuals weigh costs and benefits to make decisions that maximize their utility, reflecting the core idea of purposeful behavior in economics.