1. How do social preferences shape society and the economy?
2. Where do social preferences play an important role in the economy? Give an example and explain.
3. Can you think of an example of social preference that is harmful to certain groups of people? Explain.
4. Are social preferences and social norms related? If so, how? If not, why?

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Social preferences play a crucial role in shaping both society and the economy They influence individual choices consumption patterns and the overall ... View the full answer