Consumer Theory

Ilie Babaita
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Ilie Babaita: West University of Timisoara, Romania

Annals - Economy Series, 2010, vol. 2, 91-102

Abstract: The behaviour of the economic agent – customer is a rational type of behaviour in order to maximize the satisfaction achieved through the use of commodities. In order to determine a rational behaviour, we start from the premise that every costumer has complete and accurate information on: the structure of commodities existing on the market and their ability to comply with certain wishes, market prices levels and the size of income that shall be spent in a given period in order to purchase various commodities. In order to fulfil its needs, the rational costumer has to chose from a basket of commodities the ones that: provide the greatest satisfaction under the circumstances of income and price restrictions.

Keywords: consumption; utility; marginal utility (search for similar items in EconPapers)
Date: 2010
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