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In order to examine how people make economic decisions, behavioral economics takes into account psychological elements. The right response in this case is option A.
The field of economics known as "behavioral economics" uses psychological theories to explain how people behave and make decisions in the marketplace.
The goal of behavioral economics is to enhance, modify, or completely replace conventional economic theory by examining the biases, inclinations, and heuristics that influence decisions that individuals make. It helps in figuring out whether or not people make wise decisions and whether they may benefit from assistance in doing so.
We may comprehend these anomalies and learn more about human behavior, preferences, and cognitive biases by studying behavioral economics.
To learn more about behavioral economics
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