Theory of Consumer Behavior - Supply Analysis, Business Economics & Finance Video Lecture | Business Economics & Finance - B Com

in this video we will discuss about
consumer behavior now what do you mean
by consumer behavior consumer behavior
simply means how a consumer would behave
in the market he gets many products in
the market but all the products do not
give him the same level of satisfaction
all the products are not priced at the
same level so it creates a difficulty
for him to choose as to which products
he should purchase and which products he
should avoid so in this chapter we study
as to how a consumer decides as to what
products he should purchase what
quantity he should purchase and at what
price I just give you just about what
about the topics that we'll be covering
first one is the theory of consumer
behavior then we study utility analysis
under utility analysis we will study in
detail about marginal utility and to
study marginal utility we need to study
in detail about two laws those two laws
are law of diminishing marginal utility
and the law of equal marginal utility
and then we come to consumers surplus
and finally we will do an analysis on
the indifference curve under
indifference curve will be seen what our
indifference curves and what does the
budget line or the price lane and
finally we come out with the consumers
equilibrium so let's get started
theory of consumer behavior as I have
already told you theory of consumer
behavior endeavors
to know how a consumer would behave in
the market how a consumer would buy
different goods at different prices what
is the quantity of the goods that will
buy second how a consumer locates his
income to purchase different commodities
or different goods these are the two
things that we studied in this chapter