Lesson 4 of 15 • 6 upvotes • 13:26mins

In this lesson, the determination of the slope of the budget line is discussed along with the meaning of the points that lie below the budget line. Here, the effect of changes in the budget set in the budget line is also discussed.
15 lessons • 2h 40m
Course Overview
5:00mins
Introduction
7:18mins
The Consumers Budget Part 1
12:37mins
The Consumer's Budget Part 2
13:26mins
Consumer’s Preferences
12:08mins
Substitution between goods
11:39mins
Indifference curve
12:25mins
Optimal choice of the consumer
10:59mins
Demand
11:45mins
Types of goods
9:28mins
Shifts in demand curve
9:56mins
Market demand
9:34mins
Elasticity of demand
9:27mins
Elasticity of demand - II
11:46mins
Elasticity and expenditure
12:42mins