| 单词 | consumer rationality |
| 释义 | consumer rationality The assumption that consumers, at least sane and sober adults, are the best judges of their own interests. This is the basis for leaving consumption patterns to be decided by the market; consumers face fixed prices of goods and services, which reflect the costs of production, and are left to maximize their own utilities by choosing whatever combinations of goods and services suit them best. Consumers cannot in fact have complete and reliable information on the quality of all the goods and services on offer. Governments clearly do not rely completely on consumer rationality: there are numerous laws about the health and safety standards goods must satisfy, and some goods such as narcotics or pornography are banned, while others such as alcohol and tobacco products are taxed heavily. |
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