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Axiomatic theories relating to consumer behavior and rationality, and are an essential part of consumer demand theory and indifference curve analysis.

The axioms of rationality are:
- completeness (the ability to order every available combination of goods according to preference);
- transitivity (relationship between different combination preferences); and
- selection (the consumer will aim for the most desired combination).
The [...]

Theory of consumer demand is the analysis of demand with regard to consumer behavior and rationale when changes occur in variable factors such as price, income, substitute goods.
Choice and revealed preference are two important factors affecting consumer demand.
Written by: David Byrd
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