Class 11 Economics – Consumer’s Behavior

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Chapter 2: Microeconomics

2.3 Consumer’s Behavior

2.3.1 Concept of cardinal utility: Total and Marginal Utility

2.3.2 Law of diminishing marginal utility

2.3.3 Law of substitution

2.3.3 Concept consumers surplus and producer’s surplus

Also Visit:

1. Basic Concept of Economics and Allocation of Resource
2. Demand, Supply and Market Equilibrium
3. Elasticity of Demand and Supply

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Notes By: Bhumika Chand

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