Asked by Sylvanna Riazzo on Jul 06, 2024
Verified
List the four assumptions about consumers that are used with the theory of consumer behavior.
Consumer Behavior
The study of how individuals, groups, and organizations select, buy, use, and dispose of goods, services, ideas, or experiences.
Assumptions
Pre-established beliefs or statements taken as true without proof, used as foundational elements in theories, models, and analyses to simplify complex realities.
- Depict the foundational beliefs that support the theory of consumer behavior.
Verified Answer
KS
Kennedy SettjeJul 09, 2024
Final Answer :
The four assumptions about consumers are (1)rational behavior, (2)preferences, (3)budget constraint, and (4)prices.
Learning Objectives
- Depict the foundational beliefs that support the theory of consumer behavior.