A College Student Is Thinking About Running an Ice Cream

question 56

Multiple Choice

A college student is thinking about running an ice cream truck over the summer. What would economists say is the student's main objective?

• A)To spend as little on inputs as possible
• B)To maximize hourly earnings
• C)To sell as many ice cream cones as possible
• D)To maximize his profit

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Definitions:

Functional Needs

The basic or practical needs that a product or service fulfills for the customer.

Affective Component

A component of attitude that reflects what a person feels about the issue at hand—his or her like or dislike of something.

Psychological

Pertaining to the mind or mental processes, affecting or involving the psychological state.

Lululemon Customers

Lululemon customers are individuals or groups who purchase athletic apparel and accessories from the Lululemon brand, known for its yoga and fitness-related products.