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First exams 2022 » Unit 2: Microeconomics » 2.4 Critique of the maximizing behaviour of consumers and producers (HL only)

2.4 Critique of the maximizing behaviour of consumers and producers (HL only)

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Directly related questions

18M.1.HL.TZ2.2a:
Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.
18M.1.HL.TZ2.2a:
Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.
18M.1.HL.TZ2.a:
Explain why some firms might choose the goal of profit maximization while others might choose to adopt satisficing behaviour.
22M.3.HL.TZ0.2a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.2a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.2a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
22M.3.HL.TZ0.2a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
22M.3.HL.TZ0.a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
23M.1.HL.TZ2.1b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.
23M.1.HL.TZ2.1b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.
23M.1.HL.TZ2.b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.

Sub sections and their related questions

2.4.1 Rational consumer choice

22M.3.HL.TZ0.2a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.2a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
23M.1.HL.TZ2.1b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.
22M.3.HL.TZ0.2a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.2a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
22M.3.HL.TZ0.a.vii: Define the term rational consumer choice.
22M.3.HL.TZ0.a.viii:
With reference to the use of cars in India, explain how one limitation of the assumptions of rational consumer choice might result in the overuse of cars in New Delhi.
23M.1.HL.TZ2.1b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.
23M.1.HL.TZ2.b:

Using real-world examples, discuss the assumption that consumers always seek to maximize their utility.

2.4.2 Behavioural economics in action

None

2.4.3 Business objectives