what drives the decision making of consumers. It has to do with the utility of a good (the joy or satisfaction from consuming a good) and how much it costs. Remember the principle of opportunity cost! When you spend some of your budget purchasing one item, you are giving up the opportunity to purchase some other items. For each dollar spent, you will want to spend it on the items that have the highest value or worth (or utility) to you. In this chapter, you will use some math to calculate the best choices for several example individuals depending on their utility, budget or income, and prices