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.