Rational behavior Coursework

Document Type:Coursework

Subject Area:Economics

Document 1

There are different ways of exhibiting the rational behavior in consumers who make decisions on how to acquire products and services that will meet their demands. The paper provides examples of rational behavior as exhibited by different consumers. In the first example, consumers tend to purchase products that have a low price when compared to those with a high price where they believe that they will receive the same kind of satisfaction while using either of the products. In a store, a customer may need to purchase washing powder but because there is a variety, they make their choices based on the prices of the washing powders. The application of this rational behavior focuses on delivering satisfaction and value to the buyer (Ye, 970).

Sign up to view the full document!

From $10 to earn access

Only on Studyloop

Original template