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This paper aims to show the extent to which travel agencies in Serbia are ready to operate in crises, such as the current one caused by the Covid 19 virus pandemic, and what consequences such a pandemic can have on the entire tourism industry of a country. To achieve these goals, data from various researches conducted during 2020 on the impact of the Covid 19 pandemic on the world tourism industry were used, as well as relevant statistical data from international organizations and state institutions of the Republic of Serbia. The paper concluded that travel agencies are highly dependent on state aid, but these resources are also limited. All solutions proposed by the Government of the Republic of Serbia are time-limited until the end of 2021 when there is hope that the virus will weaken, in which the planned vaccination of the population should play a major role. For travel agencies to be able to overcome situations such as the virus pandemic in the future, they need to work on new programs and adapt to new target groups and markets. New sales channels need to be opened, in case of some new crises, so that the agencies are ready and able to survive under the given circumstances.

The aim of this paper is to show that the economists can not adequately explain the rational behavior if are focused only on the scientific observations from the model of full rationality and the model instrumental rationality, and the inclusion related model makes 'larger views', which like more reprezentative reflection of the rational behavior represents a solid basis for construction the model of decision-making in contemporary economic science. Taking into account the goal of the work and its specific character, we composed adequate structure of work. In the first part of the paper, we define the model of full rationality, its important characteristics. In the second part, we analyze the model of instrumental rationality. In the analysis of model, we start from the statement, which given in economic theory, that the rational actor uses the best means to achieve their objectives. In the third part, we consider of the basic of the models of value rationality. In the fourth part, we consider key characteristics of the model of bounded rationality. In the last part, we focuse on questioning the basic assumptions of the model of full rationality and the model of instrumental rationality. We especially analyze the personal and social goals preferences of high school students and university students.

According to rational choice theory, rational consumers tend to maximize utility under a given budget constraints. This will be achieved if they choose a combination of goods that can satisfy their needs and provide the maximum level of utility. Gary Becker, on the other hand, imagines irrational consumers who choose bundle on the budget line. As irrational consumers have an equal probability of choosing any bundle on the budget line, on average, we expect that they will pick the bundle lying at the midpoint of the line. The results of research in which artificial Becker's agents choose among more than two commodities, rational choice theory is small and more than two budget/price situations show that the percentage of agents whose behavior violate. Adding some factors to Becker's model of random behavior, experimenters can minimize these minor violations. Therefore, rational choice theory is unfalsifiable. The results of our research have confirmed this theory. In addition, in the paper we discussed about explanatory value of rational choice theory in specific circumstances (positive substitution effect) and we concluded that the explanatory value of rational choice theory was significantly reduced in specific cases.