Q1.Who is consumer ? Ans. Consumer is an economic agent who consume goods and services for direct satisfaction of his/her wants. Q2.What is utility ? It refers to wants satisfying power of a commodity. Thus is refers to satisfaction derived from the consumption of a commodity. For example- A bread has the satisfying hunger, books fulfil our desire for knowledge. :
Q1. Who is consumer ? Ans. Consumer is an economic agent who consume goods and services for direct satisfaction of his/her wants. Q2. What is utility ? It refers to wants satisfying power of a commodity. Thus is refers to satisfaction derived from the consumption of a commodity. For example- A bread has the satisfying hunger, books fulfil our desire for knowledge.
According to mar:
According to mar