Edexcel A Level · 9EC0 · Theme 1: Introduction to markets and market failure
1.2.10 Alternative views of consumer behaviour
Also Edexcel AS 8EC0
Everything you need for questions on alternative views of consumer behaviour, in the words examiners reward. An interactive seven-step lesson goes with it.
What's on this sheet
- The rational model, and its critics
- Defaults and habits
- Three reasons consumers may not be rational
- Calculations: test the deal
- Classic question: does behavioural economics make standard theory useless?
- Side 2: practice tasks, where the marks go, and exam-style questions
- Separate answer key
The lesson in seven steps
- Supermarket sprint
- The busy restaurant
- Others, habit or computation?
- Test-the-deal trainer
- How irrational are we?
- Build the chain
- Exam practice
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