Unit-2

Question

1. Explain concept of Utility.

2. Explain Cardinal approach.

3. Explain law of demand.

4. Explain Types of Elasticity of Demand.

5. Explain types of price elasticity of demand.

6. Define Demand.

7. Explain Perfectly Elastic demand.

8. Explain Perfectly Inelastic demand.

9. Explain Unitary Elastic demand.

10. Define Utility.

11. Explain concept of consumer surplus,