MiE/P1: Microeconomics- Type of Goods, Giffen-Veblen-Inferior, Elasticity of Demand & Supply

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Type of Goods: free goods, common woods, public goods, private goods, economic goods, club goods, artificially scarce goods- features, examples and MCQs
What is tragedy of commons?
Types of demands for economic goods: individual versus market. Ex Ante vs. Ex Post, Joint demand, Derived Demand, composite demand
Why is demand for a 'factor of production' is said to be a derived demand?
3 types of demand elasticity
Positive cross elasticity in substitutes, Negative cross elasticity in complementary products, Zero cross elasticity
Price elasticity of demand: perfectly inelastic, perfectly elastic, unitary elastic
When demand curve shows “positive slope”: Veblen Goods, Giffen Goods, curfew and emergency situation
Income elasticity of Normal Goods
Giffen goods: understanding their demand slope and characteristics
Inferior goods and their demand curve
Laws of supply: understanding the difference between stock and supply; elasticity of supply
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Language: Hindi; Powerpoints: English
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