Final answer:
Individuals may behave approximately in the rational, calculating way described by the economic model of decision making.
Step-by-step explanation:
The question asks whether individuals behave approximately in the rational, calculating way described by the economic model of decision making. While people's decisions may sometimes seem irrational, there are instances when they behave approximately that way. An example is when people weigh the pros and cons of different options before making a decision, considering the costs and benefits involved.
For instance, if someone needs to purchase a new smartphone, they might research different models, compare prices, and analyze the features to make an informed decision that is in their best interest. While their decision may not always align perfectly with the rational model, it often demonstrates a level of calculated decision making.
Another example is when individuals make decisions based on their preferences and self-interest, aiming to maximize their satisfaction or utility. This can be observed in consumer behavior, where people make choices that they believe will bring them the most enjoyment or value.