use the theory of consumer choice and the impact of the concepts of asymmetric information, political economy, and behavior economics, to describe how consumers make economic decisions.

The appetites for further study in economics.

Purpose of Assignment
Week 5 exposes students to subjects that are intended to whet their appetites for further study in
economics. Students will use the theory of consumer choice and the impact of the concepts of
asymmetric information, political economy, and behavior economics, to describe how consumers make
economic decisions.
Assignment Steps
Scenario:You have been asked to assist your organization’s marketing department to better understand
how consumers make economic decisions.
Writea 850-word analysis including the following:
The impact the theory of consumer choice has on:
Demand curves
Higher wages
Higher interest rates
The role asymmetric information has in many economic transactions.
The Condorcet Paradox and Arrow’s Impossibility Theorem in the political economy.
People are not rational in behavior economics.
Use a Running head on the title page and use a page header on the other pages
Use a section heading for each topic in your paper
Citea minimum of three peer-reviewed sources not including your textbook