Media Economics: Applying Economics to New and Traditional Media differs from ordinary media economic texts by taking a conceptual approach to economic issues. As the book progresses through economic principles, authors Colin Hoskins, Stuart McFadyen, and Adam Finn use cases and examples to demonstrate how these principles can be used to analyze media issues and problems. Media Economics emphasizes economic concepts that have distinct application within media industries, including corporate media strategies and mergers, public policy within media industries, how industry structure and changing technologies affect the conduct and performance of media industries, and why the United States dominates trade in information and entertainment.  

Consumer Behavior
Consumer behavior

In Chapter 2 and Chapter 3, we examined market demand. In this chapter, we turn to analyzing demand by the individual consumer. (Consumption decisions are often made at the household rather than at the individual level. For convenience, we will continue to refer to “the consumer,” but you may substitute “the household” if you wish.) Consumers have limited budgets and income, but they are presented with many goods and services that they would like to buy. They must thus choose which of the desirable goods and services to purchase. In this chapter, we will look at how the Theory of Consumer Behavior explains consumer choices in the telecommunication, movie, television, music, computer, Internet, and publishing industries.

Studying this chapter will enable you to ...

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