Consumer Theory

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Consumer theory is a theory of microeconomics that relates preferences to consumer demand curves. The link between personal preferences, consumption, and the demand curve is one of the most complex relations in economics. Implicitly, economists assume that anything purchased will be consumed, unless the purchase is for a productive activity. Preferences are the desires by each individual for the consumption of goods and services, and ultimately translate into employment choices based on abilities and the use of the income from employment for purchases of goods and services to be combined with the consumer's time to define consumption activities. Consumption is separated from production, logically, because two different consumers are involved. In the first case consumption is by the primary individual; in the second case, a producer might make something that he would not consume himself. Therefore, different motivations and abilities are involved.

Weitere Informationen

  • Allgemeine Informationen
    • GTIN 09786130673826
    • Editor Frederic P. Miller, Agnes F. Vandome, John McBrewster
    • EAN 9786130673826
    • Format Fachbuch
    • Titel Consumer Theory
    • Herausgeber Alphascript Publishing
    • Anzahl Seiten 84
    • Genre Wirtschaft

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