What is the relation between positional and non-positional goods? Group of answer choices (a) Both are dependent on consumers’ subjective preferences. (b) Both reflect the rational decisions of consumers. (c) Positional goods are purchased for their function and use, while non-positional goods are purchased for their social importance relative to others. (d) Positional goods are purchased for their social importance relative to others, while non-positional goods are purchased for their function and use.

What is the relation between positional and non-positional goods? Group of answer choices (a) Both are dependent on consumers’ subjective preferences. (b) Both reflect the rational decisions of consumers. (c) Positional goods are purchased for their function and use, while non-positional goods are purchased for their social importance relative to others. (d) Positional goods are purchased for their social importance relative to others, while non-positional goods are purchased for their function and use.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter3: Economic Decision Makers

Section: Chapter Questions

Problem 1.4P

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