Bundle of goods

In microeconomics, a bundle of goods (also: consumer goods vector ) is a specific combination (or a bundle) of different goods with their respective number. Individual goods are combined into bundles of goods in order to abstract from the multitude of existing goods and to be able to derive regularities from the behavior of households .

Benefit theoretical aspects can be graphically represented by this abstraction in the three-dimensional coordinate system and can be derived analytically more easily. In this way, subjective preference structures of the household with regard to consumption quantity combinations can be considered and indifference curve systems can be derived. This happens particularly simply in the two-goods case, which could illustratively also be referred to as a two-goods bundle case.

Formal notation

Definition: Let be the number of goods in an economy. Then we call a - vector ${\displaystyle n}$ ${\displaystyle n}$

${\displaystyle \mathbf {x} =(x_{1},\ldots ,x_{n})}$

with the quantity of goods as a bundle of goods in the economy. ${\displaystyle x_{i}}$ ${\displaystyle i=1,\ldots ,n}$

See also

• Budget constraint

literature

• Friedrich Breyer: Microeconomics. An introduction. 6th edition. Springer, Heidelberg a. a. 2015, ISBN 978-3-662-45360-5 .

Remarks

1. ↑ See e.g. Breyer 2015, p. 115.