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Theory Of Consumer Behaviour

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Distinguish between individual demand and market demand.

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Hint. Individual demand for a commodity means quantity of the commodity that an individual household is willing to buy at a particular price in a given period of time. On the contrary market demand for a commodity is the collective demand of all individuals for the commodity at a given price at a given time period.

Some More Questions From Theory Of Consumer Behaviour Chapter

When does a consumer attain equilibrium according to indifference curve approach?

Give meaning of demand.

Name two determinants of demand.

List the factors that cause changes in demand.

What is law of demand?

What is demand schedule?

Why does demand curve slope downwards?

Differentiate between substitute and complementary goods.

What is meant by one good being substitute of other?

What is meant by one good being complementary to another.

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