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Explore The Economics Of Consumer Behavior In 90 Minutes
Introduction
Evolution of Economic Thoughts (5:49)
4 Different Definitions of Economics (6:21)
What are Micro & Macro Economics? (3:22)
Theory of Utility
Definition of Utility, Features of Utility, Total & Marginal Utility (8:30)
Summary - Theory of Utility
Law of Diminishing Marginal Utility
The concept of DMU, Relationship between TU & MU, Assumptions behind the Law of DMU (9:27)
Summary - Law of Diminishing Marginal Utility
Concept of Demand
What is Demand? Demand vs Need, Factors of Demand (6:15)
Summary - Concept of Demand
Determinants of Demand
Introduction to the Determinants of Demand (1:40)
Primary Factors (2:23)
Secondary Factors (7:23)
Summary - Determinants of Demand
Demand Funtion
Concept of Demand Function, Individual & Market Demand Function (3:55)
Law of Demand, Slope of Demand Curve, The Reason behind Negatively Sloped Demand Line (6:02)
Change in Quantity Demanded, Increase & Decrease in Demand (7:57)
Summary - Demand Function
Individual & Market Demand Schedule
The concept & difference and how to draw Individual Market Demand Schedule (5:33)
Reason for Downward Sloping Demand Line - both under Cardinal & Ordinal Utility Approaches (6:25)
Exceptions to the Law of Demand
4 Major Exceptions with Real Life Examples (5:49)
Elasticity of Demand
Types of Elasticity, How to Calculate Elasticity of Demand, Own Price Elasticity (6:02)
5 Possible Outcomes of Own Price Elasticity (7:25)
Determinants of Elasticity (3:18)
Income & Cross Elasticity and Consumer Surplus
Income Elasticity and Nature of the Commodity (3:20)
Cross Elasticity for both Substitutes & Complimentary Commodities (4:01)
Consumer Surplus - Definition & Graphical Presentation (5:04)
Summary - Income Elasticity
Indifference Analaysis
Definition & Graphical Presentation, Indifference Map for Perfect Substitutes & Perfect Compliments (5:56)
Budget Analysis
Budget Constraints, Characteristics of Budget Line & its Slope - Graphial Presentation (5:38)
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Introduction to the Determinants of Demand
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