chapter eight: consumption and the consumer society
TRANSCRIPT
![Page 1: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/1.jpg)
Chapter Eight:
Consumption and the Consumer
Society
![Page 2: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/2.jpg)
Economic Theory and Consumption
![Page 3: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/3.jpg)
Figure 8.1: The Budget Line
![Page 4: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/4.jpg)
Figure 8.2: Effect of an Increase in Income
![Page 5: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/5.jpg)
Figure 8.3: Effect of a Fall in a Price
![Page 6: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/6.jpg)
Table 8.1: Quong’s Utility from Chocolate Bars
![Page 7: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/7.jpg)
Figure 8.4: Quong’s Utility Function for Chocolate Bars
![Page 8: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/8.jpg)
Consumption in Historical and International Context
![Page 9: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/9.jpg)
Figure 8.5: Revolving Debt in the United States, 1968-2012, Adjusted for Inflation
![Page 10: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/10.jpg)
Consumption in a Social Context
![Page 11: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/11.jpg)
Figure 8.6: Global Advertising Expenditures, by Country/Region, 2011
Source: Advertising Age, December 5, 2011.
![Page 12: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/12.jpg)
Consumption in an Environmental Context
![Page 13: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/13.jpg)
Figure 8.7: Ecological Footprint per Capita, Select Countries, 2007
Source: Global Footprint Network, www.footprintnetwork.org/en/index.php/GFN/page/footprint_for_nations/
![Page 14: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/14.jpg)
Appendix: A Formal Theory of Consumer Behavior
![Page 15: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/15.jpg)
Figure 8.8: The Budget Line and Its Slope
![Page 16: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/16.jpg)
Figure 8.9: An Indifference Curve
![Page 17: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/17.jpg)
Figure 8.10: Different Levels of Utility
![Page 18: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/18.jpg)
Figure 8.11: Utility Maximization
![Page 19: Chapter Eight: Consumption and the Consumer Society](https://reader035.vdocuments.mx/reader035/viewer/2022081418/5697bf771a28abf838c8176d/html5/thumbnails/19.jpg)
Figure 8.12: Response to a Change in Price