According to the text, the economic-buyer theory
A) says that most consumers do not know the economic value of products they purchase.
B) explains why people behave the way they do.
C) includes psychological variables and social influences.
D) is too simplistic to explain consumer behavior.
E) assumes that consumers always buy the lowest price alternative.

Question

Quizplus · Accepted Answer

The economic-buyer theory is considered too simplistic to explain consumer behavior because it does not account for the complex factors like psychological variables, social influences, and personal preferences that affect buying decisions.

According to the Text, the Economic-Buyer Theory