consumer behaviours Flashcards by Onali Sirisena

Q

traditional viewpoint

A

–> reacting/responding to certain incentives
–> based on theories
–> ‘representative consumer’ (to predict/analyse)

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Q

consumer behaviour (assumptions)

A

rationality/self-interest &utility maximisation
ordered preferences
consumers make informed guesses
marginal benefits from consumption
utility maximisation & budget constraints

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Q

rationality/self-interest &utility maximisation

A

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Q

A

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