{"id":298,"date":"2020-03-24T04:51:33","date_gmt":"2020-03-24T04:51:33","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-consumption-choices\/"},"modified":"2023-05-22T19:20:57","modified_gmt":"2023-05-22T19:20:57","slug":"learning-outcome-consumption-choices","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/chapter\/learning-outcome-consumption-choices\/","title":{"raw":"Outcome: How Utility Changes","rendered":"Outcome: How Utility Changes"},"content":{"raw":"<h2>What you'll learn to do:&nbsp;explain how consumer's utility changes when income or prices change<\/h2>\nImagine you were to create a pie chart of your college budget and spending. Where does most of your money go? Is it spent on housing? Tuition? Maybe on a car payment or food? How much money goes towards savings, entertainment, or a night out with friends? In this outcome, you'll see how economists interpret these consumer choices and learn how to analyze utility considering a person's budget constraints.\n<h3>LEARNING ACTIVITIES<\/h3>\nThe learning activities for this section include:\n<ul>\n\t<li>Reading: The Foundations of Demand Curve<\/li>\n\t<li>Reading: Income Changes and Consumption Choices<\/li>\n\t<li>Self Check: Consumption Choices<\/li>\n<\/ul>\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you&#8217;ll learn to do:&nbsp;explain how consumer&#8217;s utility changes when income or prices change<\/h2>\n<p>Imagine you were to create a pie chart of your college budget and spending. Where does most of your money go? Is it spent on housing? Tuition? Maybe on a car payment or food? How much money goes towards savings, entertainment, or a night out with friends? In this outcome, you&#8217;ll see how economists interpret these consumer choices and learn how to analyze utility considering a person&#8217;s budget constraints.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: The Foundations of Demand Curve<\/li>\n<li>Reading: Income Changes and Consumption Choices<\/li>\n<li>Self Check: Consumption Choices<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n","protected":false},"author":32,"menu_order":14,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-298","chapter","type-chapter","status-publish","hentry"],"part":271,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/298","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/298\/revisions"}],"predecessor-version":[{"id":299,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/298\/revisions\/299"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/parts\/271"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapters\/298\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/media?parent=298"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/pressbooks\/v2\/chapter-type?post=298"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/contributor?post=298"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accanderssenmicro\/wp-json\/wp\/v2\/license?post=298"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}