When economists say an individual displays economizing behavior, they simply mean that the individual is
A) making a lot of money.
B) purchasing only those products that are cheap and of low quality.
C) learning how to run a business more effectively.
D) making choices to gain the maximum benefit at the least possible cost.

Question

Quizplus · Accepted Answer

Economizing behavior refers to making choices that aim to achieve the maximum benefit (utility or satisfaction) at the lowest possible cost. This involves comparing the benefits and costs of different options and choosing the one that provides the greatest net benefit. This behavior is not necessarily related to making a lot of money, buying low-quality products, or learning business skills.

When Economists Say an Individual Displays Economizing Behavior, They Simply