CONSUM
EQUILIB
,A consumer is one who buys goods and
services for the satisfaction of wants.
He takes decisions with regard to the
kind of goods to be purchased in order
to satisfy his wants.
The main objective is to get maximum
,The aim of this chapter is to
make you understand : How
does a consumer maximize his
satisfaction from consumption
of goods and services. As the
resources are limited in relation
to unlimited wants, a consumer
has to follow some principles or
, There are two main approaches to
studying consumer’s behaviour and
consumer’s equilibrium are :
Cardinal Utility Approach (or Marshall’s
Utility Analysis or Marginal Utility Ana
EQUILIB
,A consumer is one who buys goods and
services for the satisfaction of wants.
He takes decisions with regard to the
kind of goods to be purchased in order
to satisfy his wants.
The main objective is to get maximum
,The aim of this chapter is to
make you understand : How
does a consumer maximize his
satisfaction from consumption
of goods and services. As the
resources are limited in relation
to unlimited wants, a consumer
has to follow some principles or
, There are two main approaches to
studying consumer’s behaviour and
consumer’s equilibrium are :
Cardinal Utility Approach (or Marshall’s
Utility Analysis or Marginal Utility Ana
