Which of the Following Is NOT an Assumption Regarding People's

question 13

Multiple Choice

Which of the following is NOT an assumption regarding people's preferences in the theory of consumer behavior?

• A) Preferences are complete.
• B) Preferences are transitive.
• C) Consumers prefer more of a good to less.
• D) All of the above are basic assumptions about consumer preferences.

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Definitions:

Behavioral Learning

A theory that proposes that learning is a process of adapting behavior based on experiences and interactions.

Thriftiness

The quality of being careful about spending money, prioritizing savings and efficient use of available financial resources.

Attitude

The settled way of thinking or feeling about something, which can significantly influence an individual's behavior and choices.

Routine Problem Solving

A quick decision-making process used for addressing simple or frequently encountered problems.