Which statement BEST describes behavioral economics?
A) The average high school student spends $100 a week.
B) A dieter on a fixed calorie diet must decide whether to eat several low-calorie meals or have a bowl of ice cream.
C) An average college students spends more time studying than sleeping.
D) If one allocates earnings, one can save enough for early retirement.

Question

Quizplus · Accepted Answer

Behavioral economics examines the psychological factors affecting individuals' economic decisions, such as the trade-offs a dieter makes between immediate gratification and long-term goals, as illustrated in option B.

Which Statement BEST Describes Behavioral Economics