How to Read Consumer And Labor Market Behavioral Economic Problems (ECONOMY RULE PREDICTS CONSUMER BEHAVIORS Book 11) Kindle
All of these economy problems will be our societies often causes to anyone feels need to solve problems in order to achieve our societies can have enough resources to satisfy our every day living.• The Consumer ProblemConsumer theory is concerned with how a rational consumer would make consumption decisions. What makes this problem worthy of separate study, apart from the general problem of choice theory, is its particular structure that allows us to derive economically meaningful results. The structure arises because the consumer’s choice sets sets are assumed to be defined by certain prices and the consumer’s income or wealth.The consumer’s problem is to choose that is most preferred or, equivalently, that has the greatest utility. The assumption of perfect information is built deeply into the formulation of this choice problem, just as it is in the underlying choice theory. Some alternative models treat the consumer as rational but uncertain about the products, for example how a particular food will taste or a how well a cleaning product will perform. Some goods may be experience goods which the consumer can best learn about by trying (“experiencing”) the good. In that case, the consumer might want to buy some now and decide later whether to buy more. That situation would need a different formulation. Similarly,if the agent thinks that high price goods are more likely to perform in a satisfactory way, that, too, would suggest quite a different formulation. Agents are price-takers. The agent takes prices p as known, fixed and exogenous. This assumption excludes things like searching for better prices or bargaining for a discount.Hence , it seems that economic problems and consumer problems are similar, I feel that it is possible , economists can attempt to apply any economic theories to solve some consumer problems in some suitations. They can find the accurate solutions when they can apply the suitable economic theories to solve the suitable consumer or economic problems in our societies. I shall indicate that how economists can apply the suitable economic theories to attempt to solve some consumer problems in our societies as below:
