Demand

Consumer objectives and decisions:

1) The maximisation of private benefit from consumption

Individuals will seek to attain the highest level of satisfaction available in their consumption of goods and services ​

2) The maximisation of private benefit from working​

Individuals will seek to attain the highest benefit available in the supply of their labour​, which might include higher pay or better working conditions​

(Rational choice theory makes the assumption that all individuals make logical decisions that will maximise their personal benefit i.e. self-interest.​)

Demand is a consumers willingess and ability to purchase a good or service

​​The factors that may cause a shift in the demand curve:

changes in the prices of substitutes and complementary goods:

changes in real incomes

changes in tastes and fashions

advertising and branding

changes in size and age distribution of the population