CPT Chapter Theory of Consumer Behaviour
With Bharat Galani.Duration:3hrs 20min
| Theory of consumer behaviour | Duration (min:sec) |
| Theory of consumer behaviour | |
| {modal https://www.youtube.com/embed/JMqmQjAVZ7E?autoplay=1;rel=0|width=780|height=439|title=Introduction to Theory of consumer behaviour}Introduction to Theory of consumer behaviour{/modal} | 02:39 |
| {modal https://www.youtube.com/embed/JAufL04OrV0?autoplay=1;rel=0|width=780|height=439|title=What is Utility}What is Utility{/modal} | 04:33 |
| {modal https://www.youtube.com/embed/G7fv3QCAfME?autoplay=1;rel=0|width=780|height=439|title=Two Theories( Cardinal & Ordinal)}Two Theories( Cardinal & Ordinal){/modal} | 03:32 |
| {modal https://www.youtube.com/embed/Lqj4wPzMQTw?autoplay=1;rel=0|width=780|height=439|title=Summary}Summary{/modal} | 02:02 |
| Marginal Utility | |
| {modal https://www.youtube.com/embed/25b1Us91IFw?autoplay=1;rel=0|width=780|height=439|title=Marginal Utility Introduction}Marginal Utility Introduction{/modal} | 01:38 |
| {modal https://www.youtube.com/embed/q8_aHE9kqKg?autoplay=1;rel=0|width=780|height=439|title=Marginal Utility Analysis}Marginal Utility Analysis{/modal} | 09:42 |
| {modal https://www.youtube.com/embed/m0Reu__-d74?autoplay=1;rel=0|width=780|height=439|title=Assumption of Marginal Utility Analysis}Assumption of Marginal Utility Analysis{/modal} | 02:23 |
| {modal https://www.youtube.com/embed/5FIm0c-DEOc?autoplay=1;rel=0|width=780|height=439|title=Law of Diminishing Marginal Utility}Law of Diminishing Marginal Utility{/modal} | 14:25 |
| {modal https://www.youtube.com/embed/1mOe0zHNYf8?autoplay=1;rel=0|width=780|height=439|title=TU MU Curve}TU MU Curve{/modal} | 06:25 |
| {modal https://www.youtube.com/embed/c0GgpcxpuQA?autoplay=1;rel=0|width=780|height=439|title=Marginal Utility Key points}Marginal Utility Key points{/modal} | 03:47 |
| {modal https://www.youtube.com/embed/dcaV2C0CJdE?autoplay=1;rel=0|width=780|height=439|title=Limitations of the law of DMU}Limitations of the law of DMU{/modal} | 05:39 |
| {modal https://www.youtube.com/embed/viastV1Atp0?autoplay=1;rel=0|width=780|height=439|title=Summary }Summary {/modal} | 01:56 |
| {modal https://www.youtube.com/embed/4j4w8ldzr9U?autoplay=1;rel=0|width=780|height=439|title=Law of Equi Marginal Utility}Law of Equi Marginal Utility{/modal} | 14:49 |
| {modal https://www.youtube.com/embed/P1hQkJiTLK4?autoplay=1;rel=0|width=780|height=439|title=Consumer Surplus}Consumer Surplus{/modal} | 20:27 |
| {modal https://www.youtube.com/embed/o7DBztsI9_A?autoplay=1;rel=0|width=780|height=439|title=Limitation of Consumer Surplus}Limitation of Consumer Surplus{/modal} | 06:35 |
| {modal https://www.youtube.com/embed/rL05RQVkXQU?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} | 08:19 |
| {modal https://www.youtube.com/embed/47L7WNIKVaU?autoplay=1;rel=0|width=780|height=439|title=Summary Marginal Utility}Summary Marginal Utility{/modal} | 12:52 |
| Consumer Equilibrium | |
| {modal https://www.youtube.com/embed/BxI-sSezuG4?autoplay=1;rel=0|width=780|height=439|title=Indifference Curve}Indifference Curve{/modal} | 07:53 |
| {modal https://www.youtube.com/embed/Jqq4w4r8fJI?autoplay=1;rel=0|width=780|height=439|title=Definition of IC }Definition of IC {/modal} | 02:35 |
| {modal https://www.youtube.com/embed/P-2k-M3fLCQ?autoplay=1;rel=0|width=780|height=439|title=Indifference Map}Indifference Map{/modal} | 03:12 |
| {modal https://www.youtube.com/embed/Dz3sE7dPOnQ?autoplay=1;rel=0|width=780|height=439|title=What is Marginal rate of substitution?}What is Marginal rate of substitution?{/modal} | 07:36 |
| {modal https://www.youtube.com/embed/-qM4tfhXIEM?autoplay=1;rel=0|width=780|height=439|title=Properties of IC Curves}Properties of IC Curves{/modal} | 14:44 |
| {modal https://www.youtube.com/embed/UaBzMApUsys?autoplay=1;rel=0|width=780|height=439|title=IC Perfect Substitutes & Complimentary}IC Perfect Substitutes & Complimentary{/modal} | 08:57 |
| {modal https://www.youtube.com/embed/kWBNzQ2q3UE?autoplay=1;rel=0|width=780|height=439|title=Budget Line}Budget Line{/modal} | 06:12 |
| {modal https://www.youtube.com/embed/I0kuc-BUxyc?autoplay=1;rel=0|width=780|height=439|title=Consumer Equilibrium}Consumer Equilibrium{/modal} | 11:57 |
| {modal https://www.youtube.com/embed/-cHIgt9_2h0?autoplay=1;rel=0|width=780|height=439|title=Quiz}Quiz{/modal} | 10:38 |
| {modal https://www.youtube.com/embed/-VD230exUdU?autoplay=1;rel=0|width=780|height=439|title=Summary}Summary{/modal} | 04:07 |
| Total | 3:19:34 |
Notes
Index
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
Utility
Want satisfying power of a commodity
Subjective
Not same as usefulness
Ethically neutral
Anticipated satisfaction
Marginal Utility
I. Law of Diminishing Marginal Utility
Proposition
Assumptions
MU & TU
Schedule & Graphical Representation
limitations
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
Ordinal
Iso-Utility Curve
Assumptions
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