Questions
MUF0061 Economics Unit 1 - Semester 2, 2025
Single choice
Which of the following is a feature of behavioural economics?
Options
A.a. Consumers behave in unpredictable ways when making purchases. Decisions are based on social and psychological factors.
B.b. Humans are not emotional, confused, or easily distracted, weighing up the benefits and costs of decisions.
C.c. Consumer decisions are based on rational decision-making. The main aim is for consumers to pay a lower price for goods and services.
D.d. Firms make decisions based on producing goods and services to maximise their profit.
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Step-by-Step Analysis
In this question, we are asked to identify a feature of behavioural economics among the options provided.
Option a: 'Consumers behave in unpredictable ways when making purchases. Decisions are based on social and psychological factors.' This aligns with behavioural economics, which emphasize......Login to view full explanationLog in for full answers
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