Example of economics concepts

1. Law of Demand:-
           The price and quantity of the goods and services are similar to each other. When price goes up and the demand of the goods will goes down.

example:-
       If the price of the tomato will increase the demand will goes down. the customer will not buys and demand will decrease.

2. Law of Supply:-
              When the price of goods will high the producer supply more quantity of goods and consumer willing to buy.

example:-
          On the occasion of rakhi every sweet shop price will be higher because everyone wants to buy the sweets and producer wants to supply more variety of goods.

3. Elastic Demand:-
                   The price will be effects to goods the quantity will be same and consumer wants to buy another one.

4.Utility:-
        It means the goods which consumer gets more satisfaction.
 
example:-
        Yesterday I went to KFC to eat chicken leg piece and after that I buy another two piece to get more satisfaction.

5. Equi marginal:-
         when consumer gets income and he equal buys every units of goods and gets equal satisfaction on every goods.

example:-
      when my father buys fruits ,he buys fruits like apple,grapes,kiwi,orange and he gets equal satisfaction on every fruits.