Figure 3-7
Mary's Production Possibilities Frontier Kate's Production Possibilities Frontier 
-Refer to Figure 3-7. If Mary and Kate trade foods with each other, who will trade away muffins in exchange for cookies?
Definitions:
Situational
Relating to or dependent upon a set of circumstances or conditions at a particular time that affects actions, decisions, and strategies.
Psychological Factor
Represents the mental and emotional influences that affect consumer behaviors and decision-making processes.
Functional Need
A consumer's requirement for a specific feature or function that a product or service must fulfill to be considered useful.
Lifestyle
The way in which a person or group lives, including patterns of social relations, consumption, entertainment, and dress.
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