Does the economic theory of scarcity and choice assume that consumers are rational decision makers?
Ideally, everyone should weigh the costs and benefits before choosing a product or service, but I'm not so sure that's the case. With every choice, there is definitely something lost, an alternative. But some people don't choose based on economic factors.
For example, my dad refuses to use anything but an American made car due to patriotism. An American car may be more expensive and not as good quality as a Japanese car, but my dad will still choose the American car over the Japanese car. It's not very rational but I think many consumers make choices this way.