passwella.
Menu

WAEC Economics 2011 Question 14

Question 14

Theory of Demand

A rational consumer is one who

  1. A.spends his income to maximize satisfaction.
  2. B.is not influenced by advertisement.
  3. C.behaves in a particular way all the time.
  4. D.knows the prices of all goods and buys the cheapest.
Show the answer and explanation

Answer: A (spends his income to maximize satisfaction.)

Explanation

A rational consumer uses limited income to get the greatest possible satisfaction.