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A-Level Economics > 1.2.1 - Rational Decision Making > Flashcards

1.2.1 - Rational Decision Making Flashcards

1
Q

What Do Consumers Aim To Maximise?

A

Utility.

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2
Q

What Is Utility?

A

The satisfaction gained from consuming a product.

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3
Q

What Do Firms Aim To Maximise?

A

Profit.

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4
Q

What Do Governments Aim To Maximise?

A

Social welfare.

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A-Level Economics (87 decks)

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