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1.2 Individual economic decision making (A-level only)

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Question 25

Unlike traditional neo-classical economic models, behavioural economic models assume that:

human decision-making is restricted by bounded rationality and cognitive biases.

consumers are consistently successful in maximising their individual utility.

economic agents possess perfect information about all market alternatives.

individuals always act dispassionately and solely in their own self-interest.

1.2 Individual economic decision making (A-level only) Questions

  1. A Level
  2. /Economics
  3. /1.2 Individual economic decision making (A-level only)