Economics A-Level
Rational economic behaviour
What Rational economic behaviour means in Economics A-Level, as defined for AQA.
Definition of Rational economic behaviour
Check what you remember
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Reference: AQA
A core assumption of the model in which consumers aim to maximise utility while producers seek to maximise profit.
Topics that use Rational economic behaviour
- The determination of equilibrium market prices (AQA A-Level)
Related terms
- Ceteris paribus
- Disequilibrium
- Economic shocks
- Equilibrium
- Excess demand
- Excess supply
- Incentive function
- Market clearing
Using Rational economic behaviour in the exam
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