Chapter 5, Problem 8AA

To determine

The word that fits best as the answer to the question.

Answer to Problem 8AA

Option (g) − Involved..

Explanation of Solution

There are many decisions a person has to make while purchasing a car because we have different taste and preferences according to which the selection of  products differs from person to person. It is not just the price of the car which is involved when a person makes a decision, it is even the brand he/she likes, the style which he/she is attracted to and even the color. So there is a lot to think about before purchasing the product.

This concept comes from the different factors involved in the demand for the product that is the taste and preferences of the consumer along with the price of the product.

No other option fits best in the answer as while talking about taking a decision for the purchase, various factors affect the decision and the option ‘involved’ fits properly in the answer as no other option is talking about any involvement.

Economics Concept Introduction

Introduction:

When you go to purchase a car, there is a lot you need to decide about depending upon your choice and the willingness to pay according to your budget. Not all desires can be fulfilled because there is a budget constraint involved in every purchase we do.