Consumer preferences or choices have changed from time to time and to understand what accounts for these changes, as well as consumer choice or preferences more generally, it is important to outline several fundamental principles underlying consumer behavior. We also mentioned that these changes find their reflection through an indifference curve that measures the satisfaction of consumers via utility. Moreover, we, as consumers, have a goal in life, which is to maximize our utility subject to our budget constraint. When we go to the store, we pick the basket that we like best and that stays within our budget. Therefore, this section underlies the basic assumptions that economists make about the nature of the consumer’s tastes or preferences.