Live revision! Join us for our free exam revision livestreams Watch now

Topics

Consumer rationality

Consumer rationality is an assumption made that people seek to maximise their own welfare from consuming goods and services. They use all of the available information to make optimal choices based on marginal benefits and marginal costs.

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.