# Unit 2 | Freedoms4
April 12, 2026 # Types of Utility # A) Form Utility B) Place C) Time D) Possession Law of Deminishing Marginal Utility # Law of Equi-Marginal Utility # Law of Demand # Price and Quantity demanded for a product is inversely related. Exceptions of Law of Demand # A) Assumption of increase in price. B) Status goods or Veblen goods. C) Giffen goods. D) War. E) Economic depression. F) Essential goods.

S1 ET DCM1107 Live

# Unit 2

Table of Contents

### April 12, 2026 #

## Types of Utility #

A) Form Utility
B) Place
C) Time
D) Possession

## Law of Deminishing Marginal Utility #

## Law of Equi-Marginal Utility #

## Law of Demand #

Price and Quantity demanded for a product is inversely related.

## Exceptions of Law of Demand #

A) Assumption of increase in price.
B) Status goods or Veblen goods.
C) Giffen goods.
D) War.
E) Economic depression. F) Essential goods.