Consumer Choice & Equilibrium | Lecture 1 — Simplest Explanation for Boards

Описание: Welcome to Skill Forum! In Consumer Equilibrium — Lecture 1, we build the foundation you need to master consumer behaviour for CBSE Class 11 Economics. This lesson explains Total Utility (TU), Marginal Utility (MU), the Law of Diminishing Marginal Utility, and how these ideas lead to consumer equilibrium — with clear definitions, board-ready diagrams, and simple solved examples.

➡️ What you’ll learn in this video • Definitions: Utility, Total Utility (TU), Marginal Utility (MU)
• Relationship between TU and MU (with diagram)
• Law of Diminishing Marginal Utility — intuition & examples
• How MU and TU lead to consumer equilibrium (preview)
• Quick short question for practice (homework)

⏱️ Timestamps 0:00 Intro — What is Consumer Equilibrium?
0:50 Utility: Meaning & Types
2:30 Total Utility (TU) — Definition & Table example
4:20 Marginal Utility (MU) — Definition & Calculation
6:10 TU vs MU — How they relate (diagram explained)
8:30 Law of Diminishing Marginal Utility — Statement & intuitive proof
11:00 Short solved example (table → graph)
13:30 Summary & Key Points to Remember
14:15 Homework (2 quick Qs)
15:00 Outro — Next lecture preview

📘 Study Material / Download
Download notes, diagrams and practice questions: [Insert link to Google Drive/Your site here]

✅ Exam Tips

Learn the TU–MU table and diagram — 90% of board questions test that.

Practice converting TU tables to MU and drawing correct graphs.

Memorize the exact statement of the Law of Diminishing MU (short form).


📝 Homework (try before Lecture 2)

1. Given TU sequence: 0, 5, 9, 12, 14 — compute MU and draw TU & MU sketches.


2. Explain in 2 lines why MU can become negative.



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5 MCQs with solutions for this lecture.



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