The economic model of consumer behavior explains how consumers' tastes and preferences are formed.

Name: The economic model of consumer behavior explains how consumers' tastes and preferences are formed.
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Question

Quizplus · Accepted Answer

The economic model of consumer behavior assumes that consumers have pre-existing tastes and preferences and focuses on how they make choices given these preferences and constraints like income and prices.

The Economic Model of Consumer Behavior Explains How Consumers' Tastes