Read INTRODUCTION TO ECONOMICS Economics Basics: Theory of Consumer Behavior Consumer Budget : A consumer having fixed budget to buy a set of goods is consumer’s budget. Its exchange value of a consumer for a set of product and a particular time.
Introduction to Economics Economics is study of utilization of scarce resources to meet maximum utility. Example: Richa gets Rupee 2000 as Pocket money from her day. Resource is Rupee 2000. Richa wants to go to movie which costs Rupee 300. Richa wants to buy