Behavioural Economics Refers to the Study of Situations

question 193

Multiple Choice

Behavioural economics refers to the study of situations

• A)where consumers and firms appear to make choices that are appropriate to reach their goals.
• B)where consumers and firms appear to value fairness when they make choices.
• C)where consumers and firms disobey the laws of demand and supply.
• D)where consumers and firms do not appear to be making choices that are economically rational.

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Definitions:

Mushroom

A type of fungus with a distinctive fruiting body that can be either edible or poisonous, often growing in damp conditions.

Ringworm

Condition of the skin caused by a fungal infection.

Chytrids

A group of simple, aquatic fungi that are unique among fungi in having flagellated spores and representing the most primitive fungal phylum.

Kingdom

One of the categories, or taxa, used to group species; the taxon above the phylum level.