Skip to content

Course home

Sign up

Card 1 of 20

Why does bounded rationality stop consumers fully optimising?

A
  • Limited information prevents complete comparisons.
  • Limited processing power prevents every option being calculated.
B
  • Limited income prevents complete comparisons.
  • Limited advertising prevents every option being calculated.
C
  • Changing prices prevents complete comparisons.
  • Personal preferences prevent every option being calculated.
D
  • Unlimited information prevents complete comparisons.
  • Unlimited processing power prevents every option being calculated.

Card 1 of 20

1.2.3 Aspects of behavioural economic theory Flashcards

  1. A Level
  2. /Economics
  3. /1.2.3 Aspects of behavioural economic theory

20 flashcards on AQA A Level Economics 1.2.3 Aspects of behavioural economic theory: the key terms, economic models and case studies you need to recall for Paper 1, Paper 2 and Paper 3.

Flashcards