Answer:-
Rational choice theory suggests that people make decisions by weighing costs and benefits to maximize their personal advantage. It assumes individuals act logically and self-interestedly, choosing the best possible outcome. This theory is widely used in economics, politics, and sociology to explain behaviors like voting, spending, and crime. Critics argue that emotions, biases, and social influences often impact decisions, making human behavior less predictable. Despite its limitations, rational choice theory helps analyze market trends, policy-making, and strategic decision-making. It provides a structured way to understand why people make certain choices in different situations, from daily life to global economics.
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