Rational Consumer

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Written by:

John S


Date added:

December 1, 2014








No of pages / words:

3 / 827


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The lack of knowledge that surrounds individuals is evident through the products we buy at a ridiculous price when we could buy them somewhere else at a much cheaper price. Therefore, instead of taking the time to evaluate and compare the different prices of the same product we chose to buy it the first time we see it, thus making it an irrational decision...
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Through this it can also be said that without knowledge or awareness of alternative prices one can’t rely on themselves to judge whether or not a good or service will provide them with maximum utils of pleasure. Namely, consumers have to make choices and although the number of choices change according to their wealth, these choices lead to opportunity cost...
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