The rational consumer model
The rational consumer model
The rational consumer model assumes that people weigh up all available options and choose the one that maximises their utility. Utility is the satisfaction or benefit gained from consuming a good or service.
Step-by-step lessons covering Edexcel A A Level Economics 1.2.10 Alternative views of 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.