Households make economic decisions because they... - WAEC Economics 2014 Question
Households make economic decisions because they want to
A
make more profit
B
increase their salaries and wages
C
increase their purchases
D
maximize their satisfaction
correct option: d
Households make consumption decisions and own factors of production. Economic decisions are those decisions in which people (or families or countries) have to choose what to do in a condition of scarcity. This means that people have to make economic decisions because they want more things than they can actually get. Therefore, they have to choose between various options and they do this by deciding on how to maximize their untility
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