Economic explanations of consumer behavior take into consideration
A)Ego gratification.
B)Lack of self-confidence.
C)Social status.
D)Prices and income.

Question

Quizplus · Accepted Answer

Economic explanations of consumer behavior emphasize the role of prices and income in shaping consumer choices. These factors influence the demand for goods and services, as consumers make trade-offs based on their budget constraints and relative prices. Ego gratification, lack of self-confidence, and social status may also play a role in consumer behavior, but they are not specific to economic explanations.

Economic Explanations of Consumer Behavior Take into Consideration