A* AQA A/AS-Level Economics notes on consumer behaviour, covering the first topic in individual economic decision making. Includes key terms, diagrams, context, and explanation covering all specification points for this topic. (Specifications 7135 & 7136)
Includes:
• Rational economic decision making and economic incentives.
• Utility theory: total and marginal utility, and the hypothesis of diminishing marginal utility.
• Utility maximisation.
• The importance of the margin when making choices.
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