*Differentiate wants and needs
Two major assumptions:
i. comparability, the assumption that the different things we value are comparable.
ii. non-satiation, the assumption that in any plausible society, present or future, we cannot all have everything we want and must give up some things we desire in order to have others.
*value (of things) means how much we value them and that how much we value them is properly estimated not by our words but by our actions
This definition is called the principle of revealed preference--meaning that your preferences are revealed by your actions.
the claim that people do not really have any choice confuses the lack of alternatives with the lack of attractive or desirable ones. Having chosen the best alternative, you may say that you had little choice; in a sense you are correct. There may be only one best alternative.
* Choice or Necessity? You just don't want it(given the cost, eg. $1000 shirts)
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