131 Outcome: How Utility Changes (98/160) -- Microeconomics

131 Outcome: How Utility Changes What you’ll learn to do: explain how consumer’s utility changes when income or prices change 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’ll see how economists interpret these consumer choices and learn how to analyze utility considering a person’s budget constraints. LEARNING ACTIVITIES The learning activities for this section include: - Reading: The Foundations of Demand Curve - Reading: Income Changes and Consumption Choices - Self Check: Consumption Choices Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.