What you’ll learn to do: explain how consumer’s utility changes when income or prices change 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’ll see how economists interpret these consumer choices and learn how to analyze utility considering a person’s budget constraints. LEARNING ACTIVITIES The learning activities for this section include: Reading: The Foundations of Demand Curve Reading: Income Changes and Consumption Choices Self Check: Consumption Choices Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section. CC licensed content, Original Authored by : Steven Greenlaw and Lumen Learning. License : CC BY: Attribution