Meaning & Definitions of Economics

https://onlineeducoach.com/wp-content/uploads/2024/07/adam-smith-1.mp4

This Topic Relate with the Adam Smith’s Definition of Economics . 

According to Adam Smith ” Economics is the study of nature and causes of Wealth of Nations .” 

this definition is elaborated in this topic with features . 

Alfred Marshall’s Welfare Defintion

Robin’s Scarcity Definition

LAW OF DEMAND

UTILITY ANALYSIS

https://onlineeducoach.com/wp-content/uploads/2024/07/mu1dmu-1.mp4https://www.youtube.com/watch?v=XHOmBV4js_E

LAW OF DIMINISHING MARGINAL UTILITY

LAW OF EQUI MARGINAL UTILITY

CONSUMER’S EQUILIBIRUM BY MARSHALL’S UTILITY ANALYSIS

INDIFFERENCE CURVE ANALYSIS

https://youtu.be/zeub8QfnGxI

PROPERTIES OF INDIFFERENCE CURVE

https://youtu.be/PobxvfBE5cE

CONSUMER’S EQUILIBRIUM BY INDIFFERENCE CURVE ANALYSIS

Hi all , This topic relates with the Question : What do you mean by Consumer’s Equilibrium ? how it can be explained with the help of Indifference Curve Analysis . 

Consumer’s Equilibrium is the point where indifference curve touches price line or budget line at its maximum point . this topic deals with three major aspects : 

1. Price line or budget line or Income line 

2. Meaning of Indifference curve analysis 

3. Equilibrium which is the intersection of price line by indifference curve at its maximum point 

So lets  check the video lecture to justify this .