The Study of Consumer Behavior Excludes Factors That Influence Purchase

question 34

True/False

The study of consumer behavior excludes factors that influence purchase decisions and product use.

---

Definitions:

Marginal Cost

The supplementary cost of manufacturing another unit of a product or service.

Consume

The action of using up goods and services to satisfy personal or collective wants or needs.

Opportunity Cost

The cost of foregoing the next best alternative when making a decision or choosing to do one thing over another.

Production Possibilities Schedule

A table or graph that shows the various combinations of two goods or services that an economy can produce using all its resources efficiently.