Consumer Equilibrium Class 11 Notes [verified] Free May 2026

This law states that as a consumer consumes more and more units of a commodity, the intensity of desire for every additional unit goes on decreasing.

The sum total of satisfaction derived from consuming all units of a commodity. consumer equilibrium class 11 notes free

In everyday terms, a consumer is someone who buys goods and services to satisfy their wants. In economics, we study how that consumer decides to spend their limited income on different goods to get the . This state of maximum satisfaction is called Consumer’s Equilibrium . 1. Core Concepts: Utility Before reaching equilibrium, we must understand Utility . Definition: The want-satisfying power of a commodity. Measurement: Measured in imaginary units called Utils . This law states that as a consumer consumes