Economics is a very interesting and quite realistic subject. It is not so difficult but if we study by understanding the concept it may ruin us afterwards. For easy leaning we need 2 things i.e
Like consumer equilibrium allow consumer to obtain more satisfaction possible from their income. Now relate this with example-
Suppose I want to buy a pair of shoes which cost Rs 1500, I loved that shoes but I will not buy it because the price is too high for me. Now it is on 50% discount and will cost Rs 750 and now we are comfortable to buy that. This is our equilibrium state when we are ready to pay the amount Rs 750 and get maximum satisfaction.
Like this we can relate this to example and learn the concept and it becomes easy in understanding.
- An excellent teacher who teaches all the concept with real life example.
- Focus more on diagram as diagram can be our strength.
Like consumer equilibrium allow consumer to obtain more satisfaction possible from their income. Now relate this with example-
Suppose I want to buy a pair of shoes which cost Rs 1500, I loved that shoes but I will not buy it because the price is too high for me. Now it is on 50% discount and will cost Rs 750 and now we are comfortable to buy that. This is our equilibrium state when we are ready to pay the amount Rs 750 and get maximum satisfaction.
Like this we can relate this to example and learn the concept and it becomes easy in understanding.
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