Question
In: Economics
The majority of profit-seeking behavior is beneficial to the overall health of the economy and the well-being of humans.
True or False?
The majority of profit-seeking behavior is beneficial to the overall health of the economy and the well-being of humans.
Explain your answer.
Solutions
Expert Solution
The given statement is False, because the majority of profit seeking behavior is maybe beneficial to the overall health of the economy but never for the well being of the humans. It's because the profit seeking behavior always focus on their self interests, they never think abouth needy and the poor people. If they see that in doing some work they will gain something then only they will invest in that otherwise not. So most importantly the government of a country should never be of profit seeking behavior because they will have to think about the whole country not only the richer section of the country.
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