Posted by Brenda on .
Can someone please explain this question to me? I have tried to pick out the key points but even then I do not know what to look up.
Your bank is developing a marketing campaign to appeal to new customers. In a meeting, your manager asked the following question: "Do individuals have any other economic responsibility rather than to maximize their own utility?" How would you respond to this question? How might the bank tie in the concept of utility maximization into the campaign?
Look for "maximize utility." Once you have a clear grasp of that concept, then you should be able to decide if people have any other economic responsibility.
I'm not an expert, but it seems to me that each of us defines our own maximum utility -- and it include only patently selfish expenditures -- or it could include helping others.