Examlex
Which of the following is a social factor that influences consumer buying behavior?
Uncertain
The state of having incomplete knowledge or information, leading to unpredictability in outcomes and decision-making.
Economics
The social science that studies the production, distribution, and consumption of goods and services.
Total Utility
The total satisfaction or pleasure a person derives from consuming a specific quantity of goods or services.
Risk-Averse
Describes individuals who choose to reduce risk when that reduction leaves the expected value of their income or wealth unchanged.
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