People make choices. They have to select from a bundle of goods
the one which is most desirable to them.
Consumers are rational. They know what is best for them.
There is cost involved in availing any goods or services. This
includes what you can give up for getting the goods and
services.
By purchasing the goods you get certain benefits.
Consumer preferences differs in relation with the provision of
incentives. The rewards and punishments attached to any activity
can be considered as incentives.
Microeconomics focus more on the marginalist concept. The
changes bought by the addition of a single unit to the total is
regarded as important. The decisions are taken accordingly.