The European Commission is the European Union's ultimate decision-making body and is composed of the different ministers of the member countries.

Which of the following statements describes economists' attitudes regarding the influence of social factors on the choices consumers make?

A) Economists believe social factors affect consumer choice in markets for public goods but not in markets for private goods. B) Liberal economists believe social factors are very important; conservative economists do not believe social factors have any influence on consumers. C) Economists traditionally believed they were unimportant, but many economists now believe social factors are important. D) Economists formerly believed they were very important but now they believe they are not important.

For the price in a market to remain the same, while the quantity traded fell, both supply and demand would have to shift to the left

a. True b. False Indicate whether the statement is true or false