Chapter 3, Problem 6AA

To determine

The best term which completes the sentence with correct meaning.

Answer to Problem 6AA

Option (d) − Accurate.

Explanation of Solution

Before any purchases consumers make, he tries to know all the information required of the product which not only includes the aspects of the price of goods or the price of related goods, but also about the quality of the product he is going to purchase.

The modes of gaining knowledge about the product are various like advertisements related to the product, the reviews of the customers who have already bought the product, etc. So in making informed buying decisions, consumers need accurate information about the product.

No other options fit in the answer to this question because while making a decision of something all you need is the accurate information about it before taking the decision. No option except ‘accurate’ explains about the correct information required to make a decision.

Economics Concept Introduction

Introduction:

Buying decisions of the consumers depends upon various aspects that is his income, price of the product, price of the related goods, his taste and preferences & his future expectations for the product in the market.