Economics B A-Level
Rationality
What Rationality means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Rationality
Check what you remember
Read the wording for your board, then hide it and explain Rationality in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
The assumption of rational consumer behaviour, which in reality may not hold as consumers may act irrationally due to habit or social influence.
Topics that use Rationality
- Price determination (Pearson Edexcel A-Level)
Related terms
- Ceteris paribus
- Excess demand
- Excess supply
- Incentives and rationing
- Market dynamics
- Market equilibrium
- Market-clearing price
- Non-price determinants
Using Rationality in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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