More Choice Is Desirable To Less Essay Example | Topics and Well Written Essays - 1500 words

More Choice Is Desirable To Less - Essay Example This paper will use the rational choice theory to provide an explanation of the reasons why having more choices is beneficial, when compared to limited choices. The rational choice theory is a theoretical application which assumes that people will make good choices, that gives them the greatest satisfaction and benefit. These choices will always work, in accordance with their interests. It is important to explain that resources are scarce, and because of their scarcity, there is an increase in the demand of using these resources. Based on this factor, some of the services provided by stakeholders are limited; hence customers have little choices on the kind of service to choose or access. However, it is important to explain that expanded choices have the capability of creating the utility to people. Utility refers to the ability of a good or product to satisfy the needs and wants of people. The availability of more choices normally has an impact of creating utility, and this is becaus e people will have a variety of products to choose from, which in turn may help in the satisfaction of the needs of the people under consideration. Take for example; people may have different tastes in the movies that they watch. One individual may love different movies, at different times. For instance, after working hard for about one week, an individual may prefer to watch comedy for entertainment. On a Sunday, the same person may prefer to watch a serious drama. This is because he would achieve utility or satisfaction, only if he or she watches movies on these days. Based on these facts, movie theaters that offer a wide range of movies have the capability of satisfying these needs and wants. Based on the principles of rational choice theory, an individual would choose to watch a movie that best suits his or her needs.