hyzendust.github.io/content/uninotes/et-dcm1107-unit2/live.md

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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.