Economists assume people's tastes are

Name: Economists assume people's tastes are
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Question

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Economists generally assume that people's tastes are relatively stable over time. This assumption allows economists to make predictions about consumer behavior and analyze the impact of changes in prices and incomes on consumer choices. If people's tastes were seen as constantly changing or unpredictable, economic analysis would be much more difficult.

Economists Assume People's Tastes Are