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- Select the correct answer. Which form of relativism states that people rely on their own standards of right and wrong when making a decision? A. naïve relativism B. role relativism C. social relativism D. cultural relativism E. habitual relativism. Evaluate whether it violated or justify WARP conditionality: A consumer makes the following choices (when you develop the matrix, show the calculation process for the first row) a. At prices (p1,p2)=($4,$4) the choice was (x1,x2) = (20,4). b. At (p1,p2)=($2,$2) the choice was (x1,x2) = (10,10). c. At (p1,p2)=($2,$4) the choice was (x1,x2) = (10,8).Using a diagram, draw the outcome of optimal choice using an indi↵erence curve and the individual’s lifetime budget constraint.
- When using the social ecological model, which of the following would be considered part of the "exosystem" of influence on an individual's physical activity? O Personal factors O public policy O Institutional factors O Exosystem does not exist in the social ecological model If you have a client who wants to work out on his own, which of the following method of prescribing exercise intensity you should recommend to be more accurate? O Rating of perceived exertion (RPE) O Talk test O % Age predicted HRmax O % Heart rate reserve (measured)What is "bounded rationality"? a. Gathering all necessary information before making a decision. b. People only make choices that gives non-negative utility. c. Limits on information, time, and abilities might prevent people from seeking out the best possible outcome. d. Human beings are often restricted/forced to make only rational decisions.oDescribe 3 ways in which human decisions making differs from the rational individual conventional economic theory
- When individuals face viable alternatives, a) there is choice b) there is always cost c) A and B d) rational behavior is not possibleIf “Law of Diminishing Marginal Utility” or I.C theory is nearer to reality?Do you agree or disagree with Maslow’s assumption that people naturally want to be self-actualized? Explain with details and examples
- Individuals may not act in the rational, calculating way described by the economic model of decision making, measuring utility and costs at the margin, but can you make a case that they behave approximately that way?Describe 3 ways in which human decision differs from the rational individual conventional economic theory with explanations please.whith practical examples distinguish between sacale of preference and opportunity cost
