Post Utme Skyline University 2023 Economics Question 24

Practice objective / multiple choice question 24 from the 2023 Post Utme Skyline University Economics examination.

Post Utme Skyline University 2023 Economics Objective / Multiple Choice
Question 24 POST_UTME_SKYLINE_UNIVERSITY • 2023 • ECONOMICS • objective

The concept of consumer behavior in economics implies that consumers make rational decisions based on their preferences and budget constraints. Which of the following is a correct statement about consumer behavior?

Answer Options

A. Consumers make irrational decisions based on their preferences and budget constraints.
Correct Answer B. Consumers make rational decisions based on their preferences and budget constraints.
C. Consumers make decisions based on their income and wealth.
D. Consumers make decisions based on their age and occupation.
Correct Answer
B
Correct Option:
Consumers make rational decisions based on their preferences and budget constraints.

About This Question

This is Post Utme Skyline University 2023 Economics Question 24. It is one of the objective questions from the 2023 Post Utme Skyline University Economics examination.

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