It is our self-interest to economize or pick and choose goods and services that maximize our satisfaction because of our limited incomes conflict with our insatiable wants for goods and services.
In the microeconomics theory, the individual's agents who were the consumers are trying all the time to satisfy their needs because of the fact that there exists an unlimited wish for goods and services which keep on continuing to grow all the time and it gets conflicted with the fact as most of the people have only limited resources to get their necessary income to purchase those goods and services.
Thereby consumers always look for a way to maximize their satisfaction from the available income that they hold on to with the purpose to spend on goods and services.
The resources which we value particularly such as time, money, labor, land, tools, and raw materials which are available in a limited supply. Simply there are never enough resources to meet all our desires and requirements. This condition is termed scarcity.
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