July 2014
Beginner
384 pages
8h 39m
English
CHAPTER9
How Consumers Make Choices
In This Chapter
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Consumers are a vital part of the economy. Consumer spending accounts for well over 50 percent of GDP in most countries. Understanding consumer behavior is therefore of deep interest to economists and businesses.
Most economists believe that consumers are rational and therefore always do what is in their best interests. Whether at a restaurant, a supermarket, or buying from an online megastore like Amazon, consumers will choose products that give them the most satisfaction. ...