The Economic Model of Consumer Decision Making Requires All the Following

question 60

Multiple Choice

The economic model of consumer decision making requires all the following except:

• A) the consumer must be aware of all available product alternatives.
• B) the consumer must be capable of ranking each alternative in terms of benefits.
• C) the consumer must be able to identify the best alternative.
• D) the consumer must have unique values and goals to use in evaluating the alternatives.

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Definitions:

Size

The physical dimensions, magnitude, or extent of an object or entity.

Carnations

A type of flower known for its distinct fragrance and variety of colors, commonly used in arrangements and bouquets.

Tariff

A tax imposed by a government on imported or exported goods to regulate trade and protect domestic industries.

Imports

Goods and services bought by residents of a country from foreign producers, representing an inflow of goods into the country.