Economic Definition of utility analysis preferences change. Defined.
Offline Version: PDF
Term utility analysis preferences change Definition: A disruption of consumer equilibrium identified with utility analysis caused by changes in the preferences for a good, which likely results in a change in the quantities of the goods consumed. The change in preferences alters the marginal utility-price ratio and forces a reevaluation of the rule of consumer equilibrium.
« preferences | preferred stock »
Permalink: https://glossary.econguru.com/economic-term/preferences+change,+utility+analysis