Utility and choice

Abstract

The Theory of Choice considers consumer behavior: decisions and choices in buying goods or services preferences at the market. First of all the whole group of consumers are individuals and have differents preferences. This is a basic defenition value that Theory of choice explain. Ultimate decision of individual depends on many factors. There are psychological or external factors such as goods of services prices, consumer preferences and incomes etc. It shows how the choice affects by price of goods, income of buyer and how they maximize absolute advantages of purchases.