All of the Following Are True About Normative Theories EXCEPT

question 42

Multiple Choice

All of the following are true about normative theories EXCEPT

• A) individual behaviour is determined by social norms
• B) individual behaviour is determined by rules
• C) people learn through socialization
• D) they favour the use of the scientific method
• E) they favour induction

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming an additional unit of a good or service.

Purchases

The act of buying goods or services.

Product X

A placeholder name used to refer to a generic or unspecified product in economic and marketing contexts.

Rational Consumer

The theoretical concept of a consumer who always makes decisions that provide the greatest benefit or utility according to their preferences.