UGC NET JRF Economic: Unit 1: Theory of Consumer Behaviour in Hindi (complete)

This video studies the UGC NET/JRF Economics' very first topic, "Theory of Consumer Behaviour". Here we will get an idea of all the topics to be covered in the big heading. Topics we touched on here are:

• Who is Consumer?
• What is Behavior?
• What is Consumer behaviour?
• Concept of Utility
• Approaches to utility (Measurement of Utility)
o Cardinal Approach to Utility
o Ordinal Approach to Utility
• Indifference Curve approach
• Revealed Preference Hypothesis
• Types of Utility
o Total Utility
o Average Utility
o Marginal Utility
• Law of diminishing marginal utility
• Law of equimarginal utility
• Concept of Consumer Surplus
• Concept of Demand
• Law of demand
o Demand Curve
o Demand Schedule
• Reason for the downward-sloping demand curve
o The Law of diminishing marginal utility
o Substitution effect
o Income effect
o New buyers
• Increase and decrease in demand
• Expansion and contraction of demand
• Elasticity of Demand
• Kinds of Elasticity of Demand
o Perfectly Elastic Demand
o Elastic Demand
o Unit Elastic Demand
o Inelastic Demand
o Perfectly Inelastic Demand
• Price Elasticity of Demand
• Income Elasticity of Demand
• Cross Elasticity of Demand
• Measurement of price elasticity of demand
o Percentage method
o Total outlay method
o Point method
o Arc method


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