Discussion for online Economics class Essay Example | Topics and Well Written Essays - 250 words

Discussion for online Economics class - Essay ExampleNeeds are the essentials and necessities of life. Based on Grovers (2011) assertions, it is obvious that people crapper do without the media even though it makes life comfortable.Given the fact that media is considered as wants and not needs the executives of such media bugger off at translating the wants into demand. The only way of attaining this aim is to increase the utility that consumers or the national derive from public media through involving them to be part of the fund drives. Participation of the public in fund drives pass on make them believe that they need to enjoy the services of the public media hence need to derive some utility (Frank & Bernanke, 2013).Nevertheless, there is a possibility that consumers impart engage in rational spending. Rational spending rule involves reducing spending on the undercoat of increases in prices. Making the public media less public would mean that there will be increases in pric es to meet the costs associated with disseminating information (Frank & Bernanke, 2013). Such increases will definitely drive away consumers on the basis of the rational spending rule. Whilst engaged in rational spending, consumers will aim at attaining the highest level of utility hence leveling the marginal utility of consumed products thence leading to aspects of income and substitution effects especially when they change from consuming media products (Frank & Bernanke,