Consumer Behaviour: Rational Decision Making and Utility Theory

The video tutorial covers the model of rational decision making in economics, focusing on utility theory, economic incentives, and marginal utility. It explains how utility is a measure of satisfaction and how it relates to wealth, using examples to illustrate the concept. The tutorial also discusses the role of homo economicus in economic theory and how individuals make decisions based on marginal utility. Finally, it explores how these concepts form the basis of market demand curves.

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