Impulse buying involves unexpected purchases influenced by situational factors like hunger, understanding tastes and budgets guides economic decision-making, and mental states can impact purchasing choices.
Impulse buying is the kind of purchase where one buys something unexpectedly due to a sudden desire or urge, often influenced by situational factors like hunger. This type of purchase may deviate from the individual's original intentions or shopping list.
Individuals in an economy make decisions based on their tastes and budgets. These factors interact in determining what is bought. Economists study these interactions to understand decision-making processes.
Mental states can also influence purchasing decisions. For example, being hungry while grocery shopping may lead to buying more food than needed, as emotions and states of mind play a role in consumer choices.
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