Economists' economic-buyer theory assumes that:

Question

Quizplus · Accepted Answer

The economic-buyer theory assumes that buyers logically compare choices in order to maximize their satisfaction, which is also known as utility maximization. The theory takes into account the fact that buyers have limited income and aim to spend it in a way that will give them the most satisfaction or utility. The theory does not assume that income data are very useful for predicting consumer behavior or that consumers should purchase only low-priced products, so options A and C are incorrect.

Economists' Economic-Buyer Theory Assumes That