Which of the Following Statements Describes Economists' Attitudes Regarding the Influence

question 203

Multiple Choice

Which of the following statements describes economists' attitudes regarding the influence of social factors on the choices consumers make?

• A)Economists formerly believed social factors were very important, but now most economists believe social factors are not important.
• B)Economists believe social factors affect consumer choice in markets for public goods but not in markets for private goods.
• C)Liberal economists believe social factors are very important; conservative economists do not believe social factors have any influence on consumers.
• D)Economists traditionally believed they were unimportant, but many economists now believe social factors are important.

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Definitions:

Stabilize

To make or become unlikely to give way or overturn; to make something steady.

Support

To hold up; to bear part of the weight of.

Wheelchair

A chair mounted on wheels for people who are unable to walk or have difficulty walking.

Ergonomics

The applied science of being concerned with the nature and characteristics of people as they relate to design and activities with the intention of producing more effective results and greater safety.