{"id":855,"date":"2015-04-25T21:33:46","date_gmt":"2015-04-25T21:33:46","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymicro1xngcxmaster\/?post_type=chapter&#038;p=855"},"modified":"2015-12-01T17:41:40","modified_gmt":"2015-12-01T17:41:40","slug":"learning-outcome-consumption-choices","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/chapter\/learning-outcome-consumption-choices\/","title":{"raw":"Outcome: How Utility Changes","rendered":"Outcome: How Utility Changes"},"content":{"raw":"<h2>What you'll learn to do:\u00a0explain how consumer's utility changes when income or prices change<\/h2>\r\nImagine you were to create a pie chart of your college budget and spending. Where does most of your money go? Is it spent on housing? Tuition? Maybe on a car payment or food? How much money goes towards savings, entertainment, or a night out with friends? In this outcome, you'll see how economists interpret these consumer choices and learn how to analyze utility considering a person's budget constraints.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading: The Foundations of Demand Curve<\/li>\r\n\t<li>Reading: Income Changes and Consumption Choices<\/li>\r\n\t<li>Self Check: Consumption Choices<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you&#8217;ll learn to do:\u00a0explain how consumer&#8217;s utility changes when income or prices change<\/h2>\n<p>Imagine you were to create a pie chart of your college budget and spending. Where does most of your money go? Is it spent on housing? Tuition? Maybe on a car payment or food? How much money goes towards savings, entertainment, or a night out with friends? In this outcome, you&#8217;ll see how economists interpret these consumer choices and learn how to analyze utility considering a person&#8217;s budget constraints.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading: The Foundations of Demand Curve<\/li>\n<li>Reading: Income Changes and Consumption Choices<\/li>\n<li>Self Check: Consumption Choices<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-855\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":74,"menu_order":14,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Steven Greenlaw and Lumen Learning\",\"organization\":\"\",\"url\":\"\",\"project\":\"\",\"license\":\"cc-by\",\"license_terms\":\"\"}]","CANDELA_OUTCOMES_GUID":"f90b33c8-ef0f-4809-ad2a-c86fab307984","pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-855","chapter","type-chapter","status-publish","hentry"],"part":27,"_links":{"self":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/users\/74"}],"version-history":[{"count":13,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/855\/revisions"}],"predecessor-version":[{"id":4232,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/855\/revisions\/4232"}],"part":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/parts\/27"}],"metadata":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapters\/855\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/media?parent=855"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/pressbooks\/v2\/chapter-type?post=855"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/contributor?post=855"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/wp-json\/wp\/v2\/license?post=855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}