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ARE FOOD CONSUMERS RATIONAL?
Food is one of the commodities that human needs for surviving because it maintains life and growth. When we consume food in a supermarket, we get various choices. ... Everyone could be consumer, however, have you ever think you make rational choices or act rationally whenever you make consumptions? As we are going to examining this, it is important to understand what are the meanings by terms, rational choice and rational consumer. Rational choice involves weighing up the benefit of any activity against the opportunity cost. To make a rational decision, you will need to weigh up the costs and benefits of each alternative to maximise your enjoyment. Rational consumer means a person who attempts to get the best value for money from his or her purchases. ... Thus, rational decision- making, as far as consumers are concerned, involves choosing those items that give you the best value of money. ... They can buy more luxury food and often eat in restaurants. ... As incomes grow consumers switch to more luxurious and expensive items, and away from more basic foodstuffs such as bread. Besides income, the other major factor influencing food purchase is price.
Approximate Word count = 924
Approximate Pages = 3.7
(250 words per page double spaced)
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