The analysis of consumer decision making based on utility maximization is known as
A) specialization analysis.
B) consumption analysis.
C) utility analysis.
D) market analysis.

Question

Quizplus · Accepted Answer

The analysis of consumer decision making based on utility maximization is known as utility analysis. Specialization analysis deals with the concept of division of labor, consumption analysis examines the patterns of consumption by individuals and households, and market analysis focuses on the overall performance of the market.

The Analysis of Consumer Decision Making Based on Utility Maximization