Question

What Consumers Keep in Mind When Making Decisions on Goods or Services____

Answer 1

Consumers consider utility, cost, trade-offs, and available information when making decisions on goods or services.

Step-by-step explanation:

When making decisions on goods or services, consumers keep several factors in mind:

1. Utility: Consumers consider what will make them the happiest or provide the highest level of satisfaction.
2. Cost: Consumers take into account the price of the goods or services and determine whether it is worth the investment.
3. Trade-offs: Consumers may choose to buy more of one item and give up a little of something else.
4. Information: Consumers base their purchase decisions on the information available to them. However, imperfect or unclear information can result in regret or avoidance of future purchases.