True. The standard, or neo-classical, economic model is the way most economists think about consumer welfare and consumer choice. It is what you will learn in any introductory microeconomics course.
The theory of consumer behavior and choice is the first step in the derivation of the market demand curve.
An important factor which determines the demand for a good is the tastes and preferences of the consumers for it. A good for which consumers’ tastes and preferences are greater, its demand would be large and its demand curve will therefore lie at a higher level. People’s tastes and preferences for various goods often change and as a result there is change in demand for them.
The changes in demand for various goods occur due to the changes in fashion and also due to the pressure of advertisements by the manufacturers and sellers of different products. On the contrary, when certain goods go out of fashion or people’s tastes and preferences no longer remain favourable to them, the demand for them decreases.
Learn more about consumers' tastes and preferences from links below:
theconsumerfactor.com
www.econport.org
www.usi.edu