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CPT Chapter Theory of Consumer Behaviour

CA CPT Exam  

With Bharat Galani.Duration:3hrs 20min

Theory of consumer behaviour Duration (min:sec)
Theory of consumer behaviour  
{modal;rel=0|width=780|height=439|title=Introduction to Theory of consumer behaviour}Introduction to Theory of consumer behaviour{/modal} 02:39
{modal;rel=0|width=780|height=439|title=What is Utility}What is Utility{/modal} 04:33
{modal;rel=0|width=780|height=439|title=Two Theories( Cardinal & Ordinal)}Two Theories( Cardinal & Ordinal){/modal} 03:32
{modal;rel=0|width=780|height=439|title=Summary}Summary{/modal} 02:02
Marginal Utility  
{modal;rel=0|width=780|height=439|title=Marginal Utility Introduction}Marginal Utility Introduction{/modal} 01:38
{modal;rel=0|width=780|height=439|title=Marginal Utility Analysis}Marginal Utility Analysis{/modal} 09:42
{modal;rel=0|width=780|height=439|title=Assumption of Marginal Utility Analysis}Assumption of Marginal Utility Analysis{/modal} 02:23
{modal;rel=0|width=780|height=439|title=Law of Diminishing Marginal Utility}Law of Diminishing Marginal Utility{/modal} 14:25
{modal;rel=0|width=780|height=439|title=TU MU Curve}TU MU Curve{/modal} 06:25
{modal;rel=0|width=780|height=439|title=Marginal Utility Key points}Marginal Utility Key points{/modal} 03:47
{modal;rel=0|width=780|height=439|title=Limitations of the law of DMU}Limitations of the law of DMU{/modal} 05:39
{modal;rel=0|width=780|height=439|title=Summary }Summary {/modal} 01:56
{modal;rel=0|width=780|height=439|title=Law of Equi Marginal Utility}Law of Equi Marginal Utility{/modal} 14:49
{modal;rel=0|width=780|height=439|title=Consumer Surplus}Consumer Surplus{/modal} 20:27
{modal;rel=0|width=780|height=439|title=Limitation of Consumer Surplus}Limitation of Consumer Surplus{/modal} 06:35
{modal;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 08:19
{modal;rel=0|width=780|height=439|title=Summary Marginal Utility}Summary Marginal Utility{/modal} 12:52
Consumer Equilibrium  
{modal;rel=0|width=780|height=439|title=Indifference Curve}Indifference Curve{/modal} 07:53
{modal;rel=0|width=780|height=439|title=Definition of IC }Definition of IC {/modal} 02:35
{modal;rel=0|width=780|height=439|title=Indifference Map}Indifference Map{/modal} 03:12
{modal;rel=0|width=780|height=439|title=What is Marginal rate of substitution?}What is Marginal rate of substitution?{/modal} 07:36
{modal;rel=0|width=780|height=439|title=Properties of IC Curves}Properties of IC Curves{/modal} 14:44
{modal;rel=0|width=780|height=439|title=IC Perfect Substitutes & Complimentary}IC Perfect Substitutes & Complimentary{/modal} 08:57
{modal;rel=0|width=780|height=439|title=Budget Line}Budget Line{/modal} 06:12
{modal;rel=0|width=780|height=439|title=Consumer Equilibrium}Consumer Equilibrium{/modal} 11:57
{modal;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} 10:38
{modal;rel=0|width=780|height=439|title=Summary}Summary{/modal} 04:07
Total 3:19:34



What is Theory of Consumer Behaviour?
Utility analysis
1. Marginal Utility Analysis (Cardinal)
-Law of Diminishing Marginal Utility
-Law of Equi Marginal Utility
2. Consumer Surplus
3. Indifference Curve Analysis (Ordinal)
-Indifference Curves & Budget Line
-Consumer Equilibrium


Want satisfying power of a commodity
Not same as usefulness
Ethically neutral
Anticipated satisfaction

Marginal Utility

I. Law of Diminishing Marginal Utility
Schedule & Graphical Representation
II.Law of Equi Marginal Utility
III.Consumer Surplus

Assumption of Marginal Utility Analysis

Cardinal Measurement of Utility
Constancy of Marginal Utility of Money
Hypothesis of Independent Utility

Limitations of Law of Diminishing Marginal Utility

Homogenous goods
Standard units of consumption
Continuous consumption
Fails in case of Prestigious goods
Case of Related goods

Indifference Curve Analysis

Hicks & Allen
Iso-Utility Curve

Consumer rational & full information
Consumer capable of ranking
Consistent consumption pattern

Summary Properties of IC

Slopes downward to the right
Convex to the origin
Never intersect each other
Higher IC represents a higher level of satisfaction than the lower IC
Will not touch either axis

CPT Exam Exposure

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