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Chapter Eight:

Chapter Eight:. Consumption and the Consumer Society. Economic Theory and Consumption. Figure 8.1: The Budget Line. Figure 8.2: Effect of an Increase in Income. Figure 8.3: Effect of a Fall in a Price. Table 8.1: Quong’s Utility from Chocolate Bars.

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Chapter Eight:

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  1. Chapter Eight: Consumption and the Consumer Society

  2. Economic Theory and Consumption

  3. Figure 8.1: The Budget Line

  4. Figure 8.2: Effect of an Increase in Income

  5. Figure 8.3: Effect of a Fall in a Price

  6. Table 8.1: Quong’s Utility from Chocolate Bars

  7. Figure 8.4: Quong’s Utility Function for Chocolate Bars

  8. Consumption in Historical and International Context

  9. Figure 8.5: Revolving Debt in the United States, 1968-2012, Adjusted for Inflation

  10. Consumption in a Social Context

  11. Figure 8.6: Global Advertising Expenditures, by Country/Region, 2011 Source: Advertising Age, December 5, 2011.

  12. Consumption in an Environmental Context

  13. Figure 8.7: Ecological Footprint per Capita, Select Countries, 2007 Source: Global Footprint Network, www.footprintnetwork.org/en/index.php/GFN/page/footprint_for_nations/

  14. Appendix: A Formal Theory of Consumer Behavior

  15. Figure 8.8: The Budget Line and Its Slope

  16. Figure 8.9: An Indifference Curve

  17. Figure 8.10: Different Levels of Utility

  18. Figure 8.11: Utility Maximization

  19. Figure 8.12: Response to a Change in Price

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