1.law of Demand
=Demand rises , Price rises
i phone demand increases due to its best and useful features with advance technology .so because of this the price also increased with increase in demand .
=Demand falls , Price falls
Lux shop product is one of the example where the demand falls because of the more competition in market .so price falls as the demand falls .
2.law of supply
=Quantity increases so price increase and sells increase .
::Dmart is the place of collection of things as the quantity is very high , so sells increases and therefore price increases .
::Collection of seasonal clothes in different seasons . Therefore increase in quantity of clothes will increase in sells with increases in prices .
3.Indifference Curve
:: I like orange and mosumbai both .If I reduce orange by half and doubles the mosumbai then also it remains same .
=Perfect Substitution
::I dont care whether the juice is tropicana or real , as long as 100%Active .So this is the perfect substitute we can substitute any in equal ratio .
4.Diminishing marginal utility
::lets take 3 aloo pratha the ,the customer consumes first pratha and fill high satisfied and in 2nd bit less hunger and in 3rd very very less benefits .
::3cake pieces till the 2nd one hunger was good but in 3rd it decreases .
5.Elasticity
:= when the price of coffee increases the demand decreases and demand of tea increases .
:=when the price of Maggie increases then switch to patanjali atta noodles.
=Demand rises , Price rises
i phone demand increases due to its best and useful features with advance technology .so because of this the price also increased with increase in demand .
=Demand falls , Price falls
Lux shop product is one of the example where the demand falls because of the more competition in market .so price falls as the demand falls .
2.law of supply
=Quantity increases so price increase and sells increase .
::Dmart is the place of collection of things as the quantity is very high , so sells increases and therefore price increases .
::Collection of seasonal clothes in different seasons . Therefore increase in quantity of clothes will increase in sells with increases in prices .
3.Indifference Curve
:: I like orange and mosumbai both .If I reduce orange by half and doubles the mosumbai then also it remains same .
=Perfect Substitution
::I dont care whether the juice is tropicana or real , as long as 100%Active .So this is the perfect substitute we can substitute any in equal ratio .
4.Diminishing marginal utility
::lets take 3 aloo pratha the ,the customer consumes first pratha and fill high satisfied and in 2nd bit less hunger and in 3rd very very less benefits .
::3cake pieces till the 2nd one hunger was good but in 3rd it decreases .
5.Elasticity
:= when the price of coffee increases the demand decreases and demand of tea increases .
:=when the price of Maggie increases then switch to patanjali atta noodles.
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