As compared to sociologists and psychologists,economists accept consumer tastes as given and instead focus on
A)How price will affect actual consumer purchases.
B)How culture affects consumer preferences.
C)How advertising molds consumer desires.
D)What consumers desire.

Question

Quizplus · Accepted Answer

Economists focus on the relationship between price and consumer behavior, assuming that individual preferences and tastes remain relatively constant. They seek to understand how changes in price will affect consumer demand for goods and services. This is in contrast to sociologists and psychologists who may study how cultural norms or psychological factors influence consumer preferences and decision-making.

As Compared to Sociologists and Psychologists,economists Accept Consumer Tastes as Given