Any consumer will want to get a combination of goods that gives her maximum satisfaction. This best combination of goods depends on which of the following? |
Consumer preferences Affordability of consumer Both of the above None of the above |
Both of the above |
One of the most important assumption of economics is "Rationality", according to which any consumer will want to get a combination of goods that gives the consumer maximum satisfaction. What will be this best combination? This depends on the likes of the consumer, that is, his preferences towards the commodity and what the consumer can afford to buy. |