The concern regarding changing health consciousness of consumers highlights which limitation of economic theory in real-world decision making?

CA Foundation · Business Economics · RTP · May 2026
The concern regarding changing health consciousness of consumers highlights which limitation of economic theory in real-world decision making?
(A) A. Static nature of demand analysis
(B) B. Excessive reliance on normative assumptions
(C) C. Unrealistic ceteris paribus assumption
(D) D. Absence of marginal analysis

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Unrealistic ceteris paribus assumption

Topics: Nature & Scope of Business Economics

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic