Economists usually assume
A)that Americans' preferences are systematically different from Europeans
B)that there are some features common to the preferences of a wide variety of people
C)that everyone has the same preferences
D)that everyone has the same preferences that they (the economists)do
E)that individuals prefer to purchases goods rather than services

Question

Quizplus · Accepted Answer

Economists generally assume that there are some common features to the preferences of a wide variety of people. While there may be differences in individual preferences, there are also similarities across individuals, and economists try to identify and understand those similarities to develop models and theories about human behavior.

Economists Usually Assume