The role of economic and psychological knowledge in consumer behavior to solve the problems in modern business

The paper is to brief the content of economic and psychological knowledge in consumers to solve the issues in modern business. A consumer is more complex in nature and creates many psychological processes in their activities. The idea behind the psychological knowledge and economic factors of the consumers are properly applied. This involves not only acquainting the community and businesses with a number of existing issues, but also inspirational the conversion of attitudes in line with modern necessities. The endeavor is to identify the situation points for working out a complete theoretical research model that will be empirically experienced and will serve to achieve some optimistic changes in the activities of the profitable organizations.