RE: Extracover4620 Jul 2023 18:57
Or try
Consumer ~preference Theory
“ The Bottom Line
Economists believe it’s possible to predict how individuals spend their money. The name for this is consumer theory and there’s a lot hinging on it as the population’s spending habits impact corporate profits and, as a result, the wider economy.
Give a scenario of somebody with x amount of money and a series of preferences, and consumer theory will tell you how that person will spend that capital. Of course, that means making a lot of assumptions. Consumer theory assumes that people are rational and essentially all the same. Normally, its predictions are fairly accurate, although they cannot be counted on 100%.”