In Explaining Consumer Behaviour, Economists Explain How Consumer Tastes and Preferences

question 238

True/False

In explaining consumer behaviour, economists explain how consumer tastes and preferences are formed.

---

Definitions:

Ultimate Consumer

The end-user or actual buyer who uses or consumes a product or service for personal use, not for resale.

Broker

A person or firm that acts as an intermediary between buyers and sellers, usually for a fee or commission.

Business Consultants

Professionals who provide expert advice in a particular area of business, such as management, operations, or marketing, to help organizations improve performance.

Index

A statistical measure or indicator often used in finance to represent the performance of a group of assets or a sector of the market.