The Rational Ideal and Real Behaviour
The Rational Ideal and Real Behaviour
The rational consumer is assumed to have complete information, unlimited processing ability and strong self-control. They compare all relevant options and choose the combination that maximises utility.
Step-by-step lessons covering AQA A Level Economics 1.2.3 Aspects of behavioural economic theory for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.