When it comes to people's tastes,economists generally believe that
A) tastes are based on forces that are well within the realm of economics.
B) tastes are based on historical and psychological forces that are beyond the realm of economics.
C) tastes can only be studied through well-constructed,real-life models.
D) since tastes do not directly affect demand,there is little need to explain people's tastes.
Correct Answer:
Verified
Q100: Good X and good Y are substitutes.If
Q114: Today,people changed their expectations about the future.This
Q115: Holding all other things constant,a higher price
Q127: If buyers today become more willing and
Q157: If goods A and B are complements,then
Q187: Two goods are complements when a decrease
Q199: Pizza is a normal good if
A) the
Q201: Economists normally
A) do not try to explain
Q207: If a study by medical researchers found
Q209: A higher price for bagels would result
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents