ELI5: Explain Like I'm 5

Consumer choice

Consumer choice is how people decide what to buy or use. When people have choices, they can pick what works best for them. For example, if someone is shopping for a new car, they might have a few different cars they can choose from. They can compare the specs, features, price, and other things to decide which one to buy. Everyone is different, so they can pick the one that best fits their needs and budget.