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Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4-microeconomics-analysis
Question

The candidate should be able to:

  1. describe [...] and [...]

  2. describe the use of indifference curves, opportunity sets, and budget constraints in decision making;

  3. calculate and interpret a budget constraint;

  4. determine a consumer’s equilibrium bundle of goods based on utility analysis;

  5. compare substitution and income effects;

  6. distinguish between normal goods and inferior goods and explain Giffen goods and Veblen goods in this context.

Answer
consumer choice theory and utility theory;

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4-microeconomics-analysis
Question

The candidate should be able to:

  1. describe [...] and [...]

  2. describe the use of indifference curves, opportunity sets, and budget constraints in decision making;

  3. calculate and interpret a budget constraint;

  4. determine a consumer’s equilibrium bundle of goods based on utility analysis;

  5. compare substitution and income effects;

  6. distinguish between normal goods and inferior goods and explain Giffen goods and Veblen goods in this context.

Answer
?

Tags
#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #study-session-4-microeconomics-analysis
Question

The candidate should be able to:

  1. describe [...] and [...]

  2. describe the use of indifference curves, opportunity sets, and budget constraints in decision making;

  3. calculate and interpret a budget constraint;

  4. determine a consumer’s equilibrium bundle of goods based on utility analysis;

  5. compare substitution and income effects;

  6. distinguish between normal goods and inferior goods and explain Giffen goods and Veblen goods in this context.

Answer
consumer choice theory and utility theory;
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LEARNING OUTCOMES
The candidate should be able to: describe consumer choice theory and utility theory; describe the use of indifference curves, opportunity sets, and budget constraints in decision making; calculate and interpret a budget constraint;

Summary

statusnot learnedmeasured difficulty37% [default]last interval [days]               
repetition number in this series0memorised on               scheduled repetition               
scheduled repetition interval               last repetition or drill

Details

No repetitions

Discussion

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