Introduction to Economics 1 Deneme Sınavı Sorusu #719132

I. Limited income necessitates choice. II. One good cannot be substituted for another. III. The law of diminishing marginal utility applies. Which of the statements are true for consumer behavior?


Only I

Only II

I and II

I and III

II and III


Yanıt Açıklaması:

The fundamental principles of consumer behavior are limited income necessitates choice, consumers make their decisions purposefully, one good can be substituted for another, consumers must make decisions without perfect information but knowledge and past experiences will help, the law of diminishing marginal utility applies. The true answer is D. 

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