The consumer-related model of decision making that assumes near perfect information regarding the available alternatives and the characteristics of each is the:
A) passive model.
B) active model.
C) cognitive model.
D) economic model.

Question

Quizplus · Accepted Answer

The economic model assumes that consumers have near perfect information about the available alternatives and the characteristics of each, and make rational decisions based on maximizing their utility. This model is commonly used in economics and is based on the assumption that people are rational and logical in their decision making.

The Consumer-Related Model of Decision Making That Assumes near Perfect