question 1 of 14 what is the main concept that traditional economics relies on? select an answer from the…

question 1 of 14 what is the main concept that traditional economics relies on? select an answer from the options below. a rational choice theory b cognitive bias c herd mentality d personal finance question 2 of 14 which cognitive bias describes valuing something more just because you own it? select an answer from the options below. a loss aversion b sunk cost fallacy

question 1 of 14 what is the main concept that traditional economics relies on? select an answer from the options below. a rational choice theory b cognitive bias c herd mentality d personal finance question 2 of 14 which cognitive bias describes valuing something more just because you own it? select an answer from the options below. a loss aversion b sunk cost fallacy

Answer

Brief Explanations:

Traditional economics assumes that individuals make rational decisions to maximize their utility, which is based on rational - choice theory. Cognitive bias and herd mentality are deviations from rational behavior, and personal finance is a different area within the business domain.

Answer:

A. Rational choice theory