Basics of consumption theory

4. The use of goods and services by households
5. The total amount of a specific good or service available to consumers
6. The additional satisfaction gained from consuming one more unit of a good or service.
7. The decision-making process of selecting among various goods and services.
9. A person who purchases goods and services for personal use.
14. The idea that consumer preferences determine the production of goods and services.
16. The amount of money exchanged for a good or service
17. The satisfaction or benefit derived from consuming a good or service.
18. The study of how individuals make decisions to allocate their resources.
20. graphical representation of relationships between economic variables

1. The replacement of one good with another due to changes in relative prices
2. The limits imposed on spending based on available income.
3. The financial plan for expenditure based on income and expenses
8. The total earnings adjusted for inflation.
10. The total earnings without adjustment for inflation.
11. The overall well-being and standard of living of individuals in an economy
12. The money received on a regular basis from work or investments.
13. An advantage or profit gained from something
15. The market price at which the quantity supplied equals the quantity demanded.
19. The willingness and ability of consumers to purchase goods and services.