Consumer behavior is a key aspect of economics, influencing everything from market demand to business strategies. This project will explore how people make spending decisions by conducting a real-world experiment analyzing consumer habits. Students will observe, document, and analyze spending patterns among different demographics to understand the factors that drive economic decision-making.

The experiment will focus on how consumers allocate their money when presented with different choices. Students may choose to conduct surveys, monitor purchases in a controlled environment, or analyze shopping behaviors at a local store. Key concepts such as opportunity cost, utility, price sensitivity, and income effect should be considered when analyzing spending patterns.

For example, students might examine how people prioritize needs versus wants, how they react to price changes, or how marketing influences their decisions. They may also analyze how income levels or personal preferences affect spending habits. The goal is to understand the reasoning behind consumer choices and connect them to fundamental economic principles.

After collecting data, students will analyze their findings and interpret the broader implications of their observations. Their final report should discuss how the experiment reveals real-world economic behaviors and what this tells us about the way consumers respond to economic factors such as pricing, availability, and perceived value.