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ECO130 Analysis and Explanation on Consumer Behaviour: Assessment Item 2 Blog Posting Answer

Subject Summary

ECO130 - Business Economics
Faculty of Business, Justice and Behavioural Sciences
School of Accounting and Finance

Assessment item 2 - Blog Posting

TASK

Notes:
You are encouraged to refer to some other sources to gather additional information to write this blog. They can include, news paper articles, journal articles, media reports, and google search (online sites). To avoid Plagiarism, you must refer to those sources in the text of your blog, and give a list of such sources (with details) at the end of the blog under the heading:
References:

This blog will be a 'private bolg' meaning that no other student in the class can see it. However, I can open it to everyone after the blog submission deadline has passed, so that every one in the class can learn from this exercise. 

This assessment will be completed by using the secure online assessment platform, Cadmus. Cadmus can be accessed through the subject Interact2 site. In Cadmus, you will find further assessment instructions, write your submission, and submit your assessment. The platform is designed to simplify the assessment process, making it easy to focus on the task at hand while developing your academic skills.  

Question:
"What Economic theory/concept can be used to explain the consumer behaviour in Video 1, and analyse this behaviour applying the theory/concept that you identified.  If you think. there is something else other than economics in this consumer behaviour, please explain briefly".  Video 2 is a supplementary material that can be useful too. 
RATIONALE

This assessment task will assess the following learning outcome/s:

  • be able to apply economic concepts and principles to daily life.
  • be able to explain the economic decision making of producers and consumers and their interaction in the market place.
GRADUATE LEARNING OUTCOMES

This task also contributes to the assessment of the following CSU Graduate Learning Outcome/s:

  • Academic Literacy and Numeracy (Skill) - Charles Sturt Graduates demonstrate the literacy and numeracy skills necessary to understand and interpret information and communicate effectively according to the context.
  • Academic Literacy and Numeracy (Application) - Charles Sturt Graduates consider the context, purpose, and audience when gathering, interpreting, constructing, and presenting information.
  • Information and Research Literacies (Knowledge) - Charles Sturt Graduates demonstrate that disciplinary knowledge is developed through research and evidence.

Answer

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