ECONOMICS
CONSUMERS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
How consumer allocate their incomes to the purchase of goods and services
|
|
|
Problems involving corporate policy
|
|
|
Problems involving public policy
|
|
|
All of the above
|
Detailed explanation-1: -Experts agree that there are four main types of consumer behavior: complex-buying behavior, dissonance-reducing buying behavior, habitual buying behavior, and variety-seeking buying behavior.
Detailed explanation-2: -Consumer theory is the study of how people decide to spend their money based on their individual preferences and budget constraints. Building a better understanding of individuals’ tastes and incomes is important, because these factors impact the shape of the overall economy.
Detailed explanation-3: -The main objective of consumer theory is to determine the impact on observable demands for commodities of alternative assumptions on the objectives, on the behavioral rules of the consumer, and on the constraints that they faces while making a decision.
Detailed explanation-4: -Psychoanalytic Theory. Veblenian Social-Psychological Theory. Reasoned Action Theory. Maslow’s Motivation-Need Theory. Hawkins Stern Impulse Buying Theory. 13-Oct-2019