3. In the book "An Inquiry into the Nature and Causes of Wealth of Nations", Adam Smith wrote that people are driven by

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3 In The Book An Inquiry Into The Nature And Causes Of Wealth Of Nations Adam Smith Wrote That People Are Driven By 1 (64.13 KiB) Viewed 48 times

3. In the book "An Inquiry into the Nature and Causes of Wealth of Nations", Adam Smith wrote that people are driven by "self-interest" or "self-love". What did Smith imply when he believed that people are driven by their own self-interest? Briefly explain your answer. + 4. In the article Ethan Brown, the founder of Beyond Meat stated: "You're going to see our marketing through the balance of the year really emphasize that we don't see the need to create a trade-off between your health and doing something good for the environment." Why do most decisions consumers make result in trade-offs? 5. From the article: "Alleged health benefits can steer big changes in food consumption... More relevant to Beyond Meat's founder Ethan Brown's quest is the popularity of pricey organic foods over the past 20 years. Sales boomed in big part because buyers thought organic equaled healthy, even though evidence is inconclusive." Is it rational for consumers to buy organic foods even though they did not know if these foods were healthier than non-organic foods? Briefly explain your answer.