When Economists Say That People Act as Rational Decision Makers,they

question 25

Multiple Choice

When economists say that people act as rational decision makers,they mean that:

• A)people gather all relevant information before making their purchases.
• B)once a pattern of behavior has been established,people tend to become set in their ways.
• C)people respond in predictable ways to changes in costs and benefits.
• D)people rarely make errors when permitted to make transactions.
• E)once made,decisions are never reversed.

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Definitions:

Approach Technique

A specific strategy or method used to initiate contact or address a problem, often in sales or negotiation.

Curiosity

Curiosity is a keen desire to know or learn something, often driving individuals to explore and discover new information.

Need-Satisfaction

A sales approach focused on identifying and fulfilling the specific needs or requirements of a potential customer to encourage a purchase.

Customer Benefit

Refers to the advantages or positive outcomes that customers receive from using a product or service.