1 / 19

Consumption and the Consumer Society: Understanding Economic Theory and Behavior

Explore the impact of consumption on society, economics, and the environment. Analyze budget lines, utility functions, and the effects of income and price changes. Consider the historical, international, social, and environmental contexts.

mperl
Download Presentation

Consumption and the Consumer Society: Understanding Economic Theory and Behavior

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter Eight: Consumption and the Consumer Society

  2. Economic Theory and Consumption

  3. Figure 8.1: The Budget Line

  4. Figure 8.2: Effect of an Increase in Income

  5. Figure 8.3: Effect of a Fall in a Price

  6. Table 8.1: Quong’s Utility from Chocolate Bars

  7. Figure 8.4: Quong’s Utility Function for Chocolate Bars

  8. Consumption in Historical and International Context

  9. Figure 8.5: Revolving Debt in the United States, 1968-2012, Adjusted for Inflation

  10. Consumption in a Social Context

  11. Figure 8.6: Global Advertising Expenditures, by Country/Region, 2011 Source: Advertising Age, December 5, 2011.

  12. Consumption in an Environmental Context

  13. Figure 8.7: Ecological Footprint per Capita, Select Countries, 2007 Source: Global Footprint Network, www.footprintnetwork.org/en/index.php/GFN/page/footprint_for_nations/

  14. Appendix: A Formal Theory of Consumer Behavior

  15. Figure 8.8: The Budget Line and Its Slope

  16. Figure 8.9: An Indifference Curve

  17. Figure 8.10: Different Levels of Utility

  18. Figure 8.11: Utility Maximization

  19. Figure 8.12: Response to a Change in Price

More Related