Before completing this graded discussion. You should have full understanding of the concepts below, if you don’t please use the textbook and review them first.
Income, Tastes, Prices, Household Budget, Information, Law of Demand, Law of Supply, Transaction Costs, Utility, Satisfaction
1. View the following 3 TED Talks (video presentations). As you watch the videos, take notes of any relevant information.
What consumers want | Joseph Pine https://youtu.be/2RD0OZCyJCk
How stores track your shopping behavior | Ray Burke https://youtu.be/jeQ7C4JLpug
Choice, happiness and spaghetti sauce | Malcolm Gladwell https://youtu.be/iIiAAhUeR6Y
2. Decide which of the 3 TED Talks best responds to this question;
How can we better understand consumer behavior?
3. Produce a no more than 200 word Post in which you explain your position. Your post must contain at least the following elements:
It must state the title and the author of the chosen TED talk.
It must state the reason why believe that TED talk best answers the question
It must explicitly explain the relationship, connection, or link between the ideas provided in the TED Talk and the concept of Consumer Choice.