Question

Consider a good whose consumption takes place publicly. On what factors would your decision to buy that good depend?

A.only on how many other people buy the good, and not on the good itself.
B.both on the characteristics of the product and on how many other people are buying it.
C.only on the characteristics of the good itself and not on other people/s actions.
D.only on the price of the good, and not on other factors, such as other people’s actions.

Answer 1

B. both on the characteristics of the product and on how many other people are buying the product.

Step-by-step explanation:

Consumption of a particular product from the market depends on the buying behaviour of the customer. Buying behaviour is a collection of processes, thoughts and acts of various people that are involved in buying and consuming that product. The buying pattern of the customer is influenced by various factors like why the customer is making that particular purchase, what are the changing factor in the society that influences the customer to make the purchase.

The customer's behaviour of purchasing a particular product to a large extend depends upon how other people are consuming that product which has a greater influence on him. Also the characteristics or the qualities of the product influences the need to make a consumption.