Question

Why do consumers have to make choices when spending their income

Answer 1

They have to make choices because:

1. Generally, consumers are trying to get the most for their limited budget so must make wise choices to get the most out of their income.
2. To be able to get the best-quality goods to suit their preference when buying.
3. To avoid impulse buying.
4. To avoid wastage of money due to impulse buying & improper planning.
5. To get maximum number of items when buying,despite price increase.