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Consumer Behaviour Cardinal And Ordinal Utility Analysis — Formula Sheet

ICSE · Class 12 · Economics

6 formulas from Consumer Behaviour Cardinal And Ordinal Utility Analysis (ICSE Class 12 Economics) on one page, grouped by topic.

68 questions40 flashcards6 formulas & key relations5 concepts

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A graph showing the relationship between total utility (TU) and marginal utility (MU) as consumption of a good increases. TU increases at a diminishing rate, reaches a maximum, and then declines, whil
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6 Entries · 3 Sections

Formulas and Key Relations

2. Total Utility and Marginal Utility

TU_x = MU_1 + MU_2 + ... MU_(n-1), MU_n

MU = ΔTU/ΔQ

MU = TU2 - TU1

4. Law of Equi-Marginal Utility and Consumer's Equilibrium under Cardinal Utility

MU_X/P_X = MU_Y/P_Y = ... = MU_n/P_n

MU of the commodity / MU of money = Price of the commodity

Key relations

It is calculated as MU = ΔTU/ΔQ.

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Frequently Asked Questions

What are the important topics in Consumer Behaviour Cardinal And Ordinal Utility Analysis for ICSE Class 12 Economics?
Key topics in Consumer Behaviour Cardinal And Ordinal Utility Analysis include Utility and Cardinal Utility Analysis, Types of Utility and Relationship Between MU and TU, Law of Diminishing Marginal Utility, Law of Equi-marginal Utility and Consumer's Equilibrium under Cardinal Utility. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How many formulas are in Consumer Behaviour Cardinal And Ordinal Utility Analysis?
This sheet lists 6 formulas from Consumer Behaviour Cardinal And Ordinal Utility Analysis, grouped by topic. Learn what each symbol stands for so you can apply the formula, not just recall it.
How should I revise Consumer Behaviour Cardinal And Ordinal Utility Analysis for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 68 practice questions on Consumer Behaviour Cardinal And Ordinal Utility Analysis. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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