A Further Look at Demand

  • J. Harvey
Chapter

Abstract

An individual with limited resources who acts rationally will seek to obtain the maximum total satisfaction from those resources. To do this, he balances the opportunity cost of the various goods he would like against the satisfaction each gives him. This is true even though much spending appears to be automatic. Usually the choice takes the form of having a bit more of one good by going without a bit of another.

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Copyright information

© Mrs. M. Harvey 1985

Authors and Affiliations

  • J. Harvey
    • 1
  1. 1.University of ReadingUK

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