But if water had a higher utility value than chocolate, the curve would be a different shape. In figure 2, we assume that chocolate and water that chocolate and water have the same utility value for the consumer. For example, two bottles of water and two chocolate bars. Any point on the curvehas the same utility value as any other point. This kind of chart is called an indifference curve. Figure 2 on page 25 shows the bundles of chocolate and water that give the same level of utility. The utility of abundle depends on two things: the utility of the goods in the bundle and how much of each good is in thebundle.
Each good its own utility value for the consumer. Utilityis the economists' for the satisfaction we get from a purchase. But when is the best bundle? This depends, on something called utility. The budget line shows what combinations of goods are possible.Įconomists call these combinations are bundles. We can put all if this information on a budget line like the one in figure. Or you buy any combination that adds up to your total budget. You could buy three bottles of water, or you could buy six chocolate bars. Bottles of water are two euros each chocolate bars arc one euro each. Economists call this your budget constraint. what will you buy from the kiosk? An important deciding factor is the amount have to spend. In the end, they buy what gives them maximum satisfaction at the lowest cost. They then compare the price and satisfaction of possible alternative purchases. Before a consumer buys something, they think about the cost and the amount of satisfaction the purchase will givethem. Neoclassical economists believe that consumers make rational choices. If you're a neoclassical economist, however, there's nothing to worry about. Now you've got another problem: consumer choice. You can buy bars of chocolate or bottles of water. What luck! Here's a kiosk selling snacks. It's also about lunchtime, and you're feeling pretty hungry, too. You have been out walking all morning and you're getting thirsty. Olive oil is a healthy combination/alternative to butter. The use or satisfaction you get from something yon buy is called utility/ purchase.ġ0. When you calculate/ issume something is true you guess that it is true.ĩ. When you buy something from a shop, you make a budget constraint/purchase.Ĩ. Green is a combination/alternative of yelow and blue.ħ. Some people calculate/ issume how much they every week.Ħ. Quality is often the budget constraint/ deciding factors when people choose something to buy.ĥ. The maximum/rational speed limit an this road is 120 kilometres per hour.Ĥ. If you are ina hurry, it can be difficult to make a maximum/rational decision.Ģ.The amount of money you have to spend is your budget constraint/ deciding factors.ģ. If you are sending someone an email, and you want your manager to see it as well, you can … your manager.1.
ANOTHER WORD FOR YOU CHOOSE CHOOSE SOFTWARE
Start selling (advertising) a new productĪ software application that enables a user to saveĪ seminar conducted over the Internet is a_.Ī set of related web pages located under a single domain name is a _.Īn HTML object that allows you to jump to a new location when you click or tap itĪ set of related web pages located under a single domain nameĪ second or further document or page that can be opened on a spreadsheet or web browserĬomplete the sentences with the right word: “using software that runs and stores information on the internet “start selling (advertising) a new product” Using software that runs and stores information on the internet You might want the partitions the hard drive…. To use different partitions for different purposesīecause it needs to know some information, such as where you are So that the computer restarts from the operating system DVD Software comes with this to show you are the owner When installing an OS, this is set temporarily to where the OS is located. įind the word which has the similar meaning as…. If you want to combine information from several tables or to do something with the data such as add up financial information from several records, we can. the same data must not be in any other record.įill in the gap with the appropriate answer: One important point is that one field in each record must be …. Split a hard drive into parts that act like separate drives.įind the right definition for the word:“Process” “a piece of equipment for projecting photographs, films/movies or computer slides onto a screen”Ĭhoose the proper answer to the definition: Choose the appropriate word for the given definition:
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