5 Questions
True or false: The theory of consumer behavior is concerned with how a consumer decides on the basket of goods and services he/she consumes in order to maximize his/her satisfaction.
True
True or false: The theory of consumer behavior assumes that the consumer has a limited income.
True
True or false: The theory of consumer behavior assumes that the consumer is rational.
True
True or false: The theory of consumer behavior assumes that the consumer has relevant information to make a decision.
True
True or false: The theory of consumer behavior assumes that the consumer is unaware of his or her income and the market prices of the commodities.
False
Test your knowledge of consumer behavior and decision-making with this quiz! Explore how consumers make choices to maximize their satisfaction and allocate their income towards different goods and services.
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