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Practice the Class 12 NCERT Solutions of Micro Economics on a regular foundation to recognize the chapters subjects underlying. All the answers furnished here are given step by step so that scholars will now no longer have a problem at the same time as getting ready.
NCERT Solutions for Class 12 Micro Economics Chapter 2 Theory of Consumer Behaviour
NCERT Solution for Class 12 Economics Chapter 2 – Theory of Consumer Behaviour offers a quick presentation approximately the concept. Chapter 2 explains exceptional terminologies which can be used inside the challenge Economics and approximately the attitude of a patron whilst shopping the goods. Like –
Utility – Utility is a period utilized by economists to provide an explanation for the quantification of “utilization” that a client obtains from any true bought. The software can also additionally compute how plenty one enjoys a theatre or the notion of protection one receives from shopping a blockade. Blockade
Marginal Utility – Marginal Utility is the extra contentment a client profits from shopping for one greater unit of an excellent or service. Marginal Utility is a
widespread financial subject matter due to the fact economists use it to alter how plenty of a commodity a patron will purchase.
Important Topics to be Covered in NCERT Class 12 Chapter 2
- Total utility
- Marginal Utility
- Law of Diminishing Marginal Utility
- Consumer’s Bundle
- Law of equi-marginal utility
- Budget set
- Consumer Budget
- Budget Line
- Monotonic Preferences
- Change in Budget Line
- Marginal Rate of Substitution (MRS)
- Indifference Curve
- Characteristics of IC
- Consumer’s Equilibrium
- Quantity Demanded
- Market Demand
- Demand Function
- Law of demand
- Change in Demand
- Change in Quantity Demanded
- Demand curve and demand schedule
- Price Elasticity of Demand
- Factors influencing Price elasticity of Demand
Access to Other NCERT Solutions for Class 12 Micro Economics Download Free PDF
Chapter 1 – Introduction to Micro Economics
Chapter 3 – Production and Costs
Chapter 4 – The Theory of the Firm under Perfect Competition
Chapter 5 – Market Equilibrium
Chapter 6 – Noncompetitive Markets
We have included all the information regarded NCERT Solutions for Class 12 Micro Economics Chapter 2 Theory of Consumer Behaviour. If you have any query feel free to ask in the comment section.
FAQ: NCERT Solutions for Class 12 Micro Economics Chapter 2 Theory of Consumer Behaviour
What do you suggest via way of means of the budget set of a purchaser?
The budget set of a purchaser is a package of or extra items in positive portions and combos this is acceptable and less costly for the purchaser primarily based totally on their rate range. A budget set is likewise known as a possible set.
What is the budget line?
A budget line is a graphical illustration of a purchaser’s constraints whilst shopping for a mixture of or extra merchandise with given finance. A budget line will shift on every occasion there’s an extra withinside the prices, alternatives, or profits. It is likewise known as an intake opportunity line. Here, it’s far assumed that the client spends the whole profits on the package of merchandise.
Explain why the budget line is downward sloping.
With a constrained profit, the client can grow the intake of 1 right simplest via way of means of lowering the intake of the opposite right. This is why a finances line is downward sloping
Can I download NCERT Solutions for Class 12 Micro Economics Chapter 2 PDF for free?
Yes, you can download NCERT Solutions for Class 12 Micro Economics Chapter 2 for free.
What takes place to the budget set if each of the costs in addition to the earnings doubles?
If both the expenses in addition to the profits double, there can be no extra withinside the budget set.
Is Class 12 Micro Economics Chapter 2 is difficult?
No, but this is the important chapter for Class 12 Economics.
What are the important topics to be covered in NCERT Class 12 Chapter 2?
You can refer to the above article to know about important topics to be covered in NCERT Class 12 Chapter 2.