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[calvert]

A new island and its economy has been formed and the president has asked you, the economist,

"How can I be sure that my people will make right choices? How will they know how to make their buying decisions?"

I was going to write something revolving around this information from my textbook, but I'm not sure if it's correct or how to demonstrate it through graphs or tables.

- Opportunity costs: the highest-valued, next-best alternative that must be sacrificed to obtain something or to satisfy a want.
- Utility Analysis: the analysis of consumer decision making based on utility maximization
- "We apply the assumption that people behave as if they act rationally with an aim to maximize utility. "
- "A consumer's money income should be allocated so that the last dollar spent on each good purchased yields the same amount of marginal utility (when all income is spent), because this rule yields the largest possible total utility."


If someone can help me answer this question, I'd appreciate it, thank you!

[teyo]

I think Americans have the choices for many products made all over this world, including the America's counterpart made products VS all foreign made products at higher prices. Although America is rated as No.1 debtor in this world and officially bankrupt, America is the No.1 consumers in this world. You will find something releavant to what you actually want in the consumers's decision and choices
http://search.yahoo.com/search?p=FAQ%20about%20the%20right%20choices%20and%20decisions%20of%20consumers'%20wise%20choices
Many countries have no choice. For instance, many Portuges did migrate to Angola because the life is much easier down there with rich reserved crude oil and afford many contruction projects are undergoing. Portugal is dipped into the severe social and economic problems with many unemployed, particularly the U grads. I think this is the only supplementary information to provide sorts of references relating to consumers' choices are based on the country's GDP, purchasing power, and financial conditions of the individual citizen. HOng Kong is a city for the riches only with the worst poor and rich gaps in this world. Many are living in the third world standards and under the poverty line. There are more than 600k citizens migrated to foreign countries for good and forever. A city is sucked for no choice, pollution, and poverty.