The most bizarre thing that one may encounter is a person who is astoundingly rich willingly hand out their money to charities and the needy. One would gaze in amazement at a person with the ability to buy the whole world over twice blindly throw their money at people who are desperately in need, with a mile wide grin covering their face. No law of economics justifies this behavior. Each and every person is expected …
showed first 75 words of 1362 total

showed last 75 words of 1362 total
…preferences. The way that a person is raised, and the people that one befriends, has a major role in their way of thinking. Therefore, it plays a large role in the way they act economically. Economics and its concepts alone cannot explain the way people behave; only psychology has the ability to do that. It is inevitable that psychology be tied in with economic concepts in order to even being to interpret one's economic actions.