Class 11 Economics Consumer Equilibrium | Part 1 #class11 #economics #consumerequilibrium

📌In this Part , we begin the topic of Consumer Equilibrium and explain it using the Cardinal Utility (Utility) Approach. Learn how consumers make decisions to maximize satisfaction and understand key concepts like total utility, marginal utility, and the law of diminishing marginal utility (LDMU) along with its assumptions.

📌 TIMESTAMPS FOR QUICK NAVIGATION
00:00 INTRODUCTION
00:28 CONSUMER EQUILIBRIUM
07:26 CARDINAL UTILITY APPROACH
07:51 CARDINAL UTILITY
11:30 UTILITY
16:19 TOTAL UTILITY
16:55 MARGINAL UTILITY
30:06 TYPES LF UTILITY
31:14 LAW OF DIMINISHING MARGINAL UTILITY (LDMU)
36:29 ASSUMPTION OF LDMU

📍Related terms
Consumer Equilibrium
Utility
Total Utility (TU)
Marginal Utility (MU)
Relationship between TU and MU
Law of Diminishing Marginal Utility (LDMU)
Cardinal Utility Approach
Ordinal Utility Approach
Indifference Curve (IC)
Indifference Map
Marginal Rate of Substitution (MRS)
Budget Line (Price Line)
Conditions for Consumer Equilibrium (Indifference Curve Approach)
Demand
Law of Demand
Demand Schedule
Demand Curve
Exceptions to Law of Demand
Factors Affecting Demand
Individual Demand and Market Demand
Movement along the Demand Curve (Expansion and Contraction of Demand)
Shift of Demand Curve (Increase and Decrease in Demand)

#class11 #economics #consumerequilibrium #utility #totalutility #marginalutility #lawofdiminishingmarginalutitliy #demandcurve #lawofdemand #budgetline #cardinalutility #ordinalutility

Видео Class 11 Economics Consumer Equilibrium | Part 1 #class11 #economics #consumerequilibrium канала Guru Dhawna Class 11