Economists use basic psychological insights in the field of study called
A)psychological economics.
B)transitional economics.
C)behavioral economics.
D)social economics.

Question

Quizplus · Accepted Answer

Behavioral economics is the field of study that combines economics and psychology to understand how people make decisions, particularly in situations where they have to weigh costs and benefits. It considers how biases, emotions, and cognitive limitations impact decision-making and how this can affect economic outcomes.

Economists Use Basic Psychological Insights in the Field of Study