The economic model of demand
A) explains the consequences of a change in buyers' tastes,but not the causes
B) explains the causes of a change in buyers' tastes,but not the consequences
C) explains both the causes and consequences of a change in buyers' tastes
D) explains neither the causes nor the consequences of a change in buyers' tastes
E) ignores buyers' tastes because they are too unstable to include in the model

Question

Quizplus · Accepted Answer

The economic model of demand typically focuses on the consequences of changes in buyers' tastes, such as shifts in demand curves, rather than the underlying causes of those changes.

The Economic Model of Demand