Where are We in the course? We are working on the 1t of the 3 components of microeconomics: Consumer behavior, production theory, and market There are three elements of consumer behavior: budget constraint, preference, and choicesWhere are We in the Course? We are working on the 1st of the 3 components of microeconomics: Consumer behavior, production theory, and market. There are three elements of consumer behavior: budget constraint, preference, and choices