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The Consumer

Descripción

Leaving Certificate Economics The Consumer Revision Guide
Niamh Browne
Mapa Mental por Niamh Browne, actualizado hace más de 1 año
Niamh Browne
Creado por Niamh Browne hace alrededor de 8 años
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Resumen del Recurso

The Consumer
  1. Assumptions
    1. Limited Resources
      1. Act Rationally
        1. Maximum Utility
          1. Law of Diminishing Marginal Returns
          2. Utility = Satisfaction
            1. Economic Good
              1. Price
                1. Transferrable
                  1. Utility
                  2. Law of Diminishing Marginal Returns
                    1. Certain Minimum (Origin) Consumed
                      1. Income Hasn't Changed
                        1. Sufficient Time Hasn't Ellapsed For Circumstances To Change
                          1. Doesn't Apply to Addictive Goods Or Medicine
                          2. Marginal Utility= Extra Satisfaction From Extra Unit Of A Good
                            1. Equi-Marginal Utility Principle
                              1. Equilibrium
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