As a general rule, the theory of consumer choice provides insight into the behaviour of:
A)individuals who make unconstrained choices
B)individuals who make constrained choices
C)individuals who are unaware of how to maximise their wellbeing
D)irrational consumers

Question

Quizplus · Accepted Answer

The theory of consumer choice focuses on individuals who make constrained choices, meaning they have limited resources (such as income) and must choose how to allocate those resources among different goods and services. This theory helps to explain how consumers make decisions in the face of scarcity and how they seek to maximise their satisfaction (utility) subject to budget constraints.

As a General Rule, the Theory of Consumer Choice Provides