Practicing Success

Target Exam

CUET

Subject

Economics

Chapter

Micro Economics: Theory of Consumer behaviour

Question:
Affordability of a consumer to buy anything depends on which of the following?
Options:
The price of goods
Income of consumer
His preferences
Both 1 and 2
Correct Answer:
Both 1 and 2
Explanation:
What the consumer can afford to buy depends on prices of the goods and the income of the consumer. His preferences would not impact the affordability of the product.