Rational choice and incentives
Rational choice and incentives
Rational decision making assumes that economic agents compare the costs and benefits of their options. They choose the option that maximises their own net benefit, given their objectives and the information available.
Step-by-step lessons covering AQA A Level Economics 1.2.1 Consumer behaviour 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.