The Theory of Consumer Choice Ft. Mr. Beat

In this video, @iammrbeat explains the theory of consumer choice using relatable examples. He defines a Giffen good and how it relates to the theory of consumer choice. Moreover, he uses the theory of consumer choice to explain how households make consumption-saving decisions in response to changes in income and interest rates. By the end of this tutorial, you'll have a better understanding of the theory of consumer choice and its real-world application.

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00:00 Intro
00:24 Giffen Good
03:01 Interest rates and household saving