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MICRO CH. 1-4

MICRO CH. 1-4


Kartei Details

Karten 101
Sprache English
Kategorie BWL
Stufe Mittelschule
Erstellt / Aktualisiert 12.01.2017 / 19.01.2017
Lizenzierung Keine Angabe
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Utility theory : Assumption

consumer knows his taste & preferences & takes rational actions that result in a more preffered consumption bundle

Consumer basket

all the possible goods and services are in one basket

Consumer bundle

all the same goods but in different quantities in a bundle

Assumtion of copletens

given bundles A and B, she must be able to say either that she prefers A to B, or she prefers B to A, or she is indifferent between the two.