This part is an introduction to the theory of Consumer behavior which is very key in microeconomics since the consumer sits at the center of microeconomics
1) Demand analysis examines how consumer demand for a product is determined based on factors like price, income, tastes, and prices of substitutes and complements. Consumer demand at the individual and market level can be modeled using demand functions.
2) At the individual level, consumers aim to maximize utility subject to a budget constraint. They allocate spending across goods until the marginal utility per rupee is equal for all goods. At the market level, demand is the sum of individual demands and is influenced by price, income, population, and other factors.
3) Demand functions express the quantitative relationship between demand for a product and its determinants. They can be linear or nonlinear. The slope of the linear demand
This document discusses key concepts in consumer behavior including:
1. Consumer preferences are evaluations consumers make about products based on factors like quality, price, and taste. Preferences are assumed to be complete, transitive, and where more is better than less.
2. Budget constraints graphically represent all combinations of goods that can be purchased with a given income and prices. Changes in income or prices shift the budget line in or out.
3. Consumers make choices to maximize satisfaction within their budget constraint by locating their preferred bundle on the budget line.
The document discusses the theory of consumer behavior and demand. It explains that consumers attempt to maximize their utility by allocating their limited income among goods. Utility can be measured cardinally using utils or ordinally using indifference curves. Consumer equilibrium occurs when marginal utility per rupee is equal for all goods, or when the indifference curve is tangent to the budget line. A change in prices or income can shift the budget line, impacting the consumer's optimal choice.
Into Econ Chapter 3 -1.pptx economics handoutReshidJewar
The document discusses consumer behavior theory and demand. It explains that consumers face a problem of choice when allocating their limited income among thousands of goods. Consumer behavior theory assumes consumers will maximize their utility or satisfaction given this constraint. Utility is subjective and can be measured ordinally or cardinally. The cardinal approach assigns numeric utility values while the ordinal only ranks preferences. Indifference curves and budget lines are used to depict the consumer's optimal choice that equalizes marginal utility per dollar across goods.
The document discusses consumer behavior theory and the concept of indifference curves. It introduces three approaches to analyzing consumer behavior: Marshallian, cardinal utility, and ordinal utility. It then defines utility, explores its features and concepts like total, marginal, and diminishing utility. The document also explains indifference curves and their properties, including convexity and non-intersection. It discusses the budget line and how consumers reach equilibrium when maximizing satisfaction given prices and income.
The document discusses budget constraints and consumer equilibrium. It explains that a budget line shows all combinations of two goods a consumer can buy given their budget and the goods' prices. A consumer will choose the combination on the budget line that maximizes their satisfaction. This optimal combination must be located on the budget line and give the consumer their most preferred basket of goods. For a consumer to be in equilibrium, their highest indifference curve must be tangent to their budget line. Indifference curve analysis is useful for understanding consumer behavior and concepts like consumer surplus.
1) Demand analysis examines how consumer demand for a product is determined based on factors like price, income, tastes, and prices of substitutes and complements. Consumer demand at the individual and market level can be modeled using demand functions.
2) At the individual level, consumers aim to maximize utility subject to a budget constraint. They allocate spending across goods until the marginal utility per rupee is equal for all goods. At the market level, demand is the sum of individual demands and is influenced by price, income, population, and other factors.
3) Demand functions express the quantitative relationship between demand for a product and its determinants. They can be linear or nonlinear. The slope of the linear demand
This document discusses key concepts in consumer behavior including:
1. Consumer preferences are evaluations consumers make about products based on factors like quality, price, and taste. Preferences are assumed to be complete, transitive, and where more is better than less.
2. Budget constraints graphically represent all combinations of goods that can be purchased with a given income and prices. Changes in income or prices shift the budget line in or out.
3. Consumers make choices to maximize satisfaction within their budget constraint by locating their preferred bundle on the budget line.
The document discusses the theory of consumer behavior and demand. It explains that consumers attempt to maximize their utility by allocating their limited income among goods. Utility can be measured cardinally using utils or ordinally using indifference curves. Consumer equilibrium occurs when marginal utility per rupee is equal for all goods, or when the indifference curve is tangent to the budget line. A change in prices or income can shift the budget line, impacting the consumer's optimal choice.
Into Econ Chapter 3 -1.pptx economics handoutReshidJewar
The document discusses consumer behavior theory and demand. It explains that consumers face a problem of choice when allocating their limited income among thousands of goods. Consumer behavior theory assumes consumers will maximize their utility or satisfaction given this constraint. Utility is subjective and can be measured ordinally or cardinally. The cardinal approach assigns numeric utility values while the ordinal only ranks preferences. Indifference curves and budget lines are used to depict the consumer's optimal choice that equalizes marginal utility per dollar across goods.
The document discusses consumer behavior theory and the concept of indifference curves. It introduces three approaches to analyzing consumer behavior: Marshallian, cardinal utility, and ordinal utility. It then defines utility, explores its features and concepts like total, marginal, and diminishing utility. The document also explains indifference curves and their properties, including convexity and non-intersection. It discusses the budget line and how consumers reach equilibrium when maximizing satisfaction given prices and income.
The document discusses budget constraints and consumer equilibrium. It explains that a budget line shows all combinations of two goods a consumer can buy given their budget and the goods' prices. A consumer will choose the combination on the budget line that maximizes their satisfaction. This optimal combination must be located on the budget line and give the consumer their most preferred basket of goods. For a consumer to be in equilibrium, their highest indifference curve must be tangent to their budget line. Indifference curve analysis is useful for understanding consumer behavior and concepts like consumer surplus.
Consumer behavior is the study about how the consumer purchases various goods and services with his/her limited resources (income).
Utility:- Utility is the ability or power goods or services to satisfy the wants of a consumer.
MG University MBA Theory of consumer behavior .ideal for MG University MBA degree 2020-22 .cardinal and ordinal utility analysis is mentioned with examples.
easy to understand very helpful for students .................................................................................................................
rights to respective owners..............................................................................................................................................................................................................................................................................................................................................................................................................................................................
- Consumer theory analyzes how individuals make choices given limited budgets and preferences. It assumes consumers rationally choose bundles that maximize their utility or satisfaction.
- A budget constraint shows affordable combinations of goods given prices and income. Indifference curves represent bundles providing equal utility, with higher curves preferred. Consumers maximize utility at the highest indifference curve possible given their budget.
- When prices or income change, consumers substitute toward relatively cheaper goods to stay on the highest possible indifference curve. This substitution effect impacts demand for goods.
This document provides an overview of consumer equilibrium using the utility and indifference curve approaches. It discusses key concepts like utility, marginal utility, consumer surplus, indifference curves, and properties of indifference curves. Consumer equilibrium occurs where the budget line is tangent to the highest indifference curve, indicating the consumer has maximized satisfaction given their budget. The document also includes sample questions to test understanding of these concepts.
This document discusses theories of consumer behavior, including cardinal and ordinal utility analysis. It covers cardinal utility theory developed by Alfred Marshall, which assumes utility can be quantitatively measured. It also covers ordinal utility theory and indifference curve analysis, which were developed by others to address weaknesses in cardinal utility. Indifference curves graph combinations of goods that provide equal satisfaction given constraints. The properties, marginal rate of substitution, budget constraints, and uses of indifference curves are also explained.
This document provides an overview of utility analysis and consumer behavior theory. It discusses key concepts like demand, utility, marginal utility, total utility, consumer surplus, and indifference curves. Specifically, it defines utility as the satisfaction received from consuming a good or service. It explains that utility is subjective and hard to measure directly. The document also outlines the laws of diminishing marginal utility and different approaches to measuring utility, including cardinal and ordinal measurement. Finally, it introduces concepts like marginal utility analysis, indifference curves, and consumer surplus that are important tools for understanding consumer choice.
This document provides an overview of consumer behavior theory and key concepts including:
1) Marginal utility analysis and the law of diminishing marginal utility which states that additional utility from consumption declines as more is consumed.
2) Indifference curve analysis which uses indifference curves to model equal levels of satisfaction from different consumption bundles.
3) The budget line and budget set which represent the consumer's purchasing constraints given prices and income.
4) Consumer equilibrium which occurs where the budget line is tangent to the highest indifference curve, maximizing satisfaction within constraints.
This document provides an overview of consumer behavior theory, including key concepts like utility, marginal utility, indifference curves, and consumer equilibrium. It discusses utility and its characteristics, the law of diminishing marginal utility, approaches to consumer behavior, indifference curves and schedules, properties of indifference curves, budget constraints, and how consumer equilibrium is reached at the point of tangency between the budget line and the highest attainable indifference curve.
This document provides an overview of consumer behavior theory, including definitions of key concepts like utility and marginal utility. It discusses the law of diminishing marginal utility and illustrates it with a graph. It also covers the ordinal and cardinal approaches to measuring utility, the concept of a consumer's budget line and budget set, and indifference curve analysis as a way to understand consumer preferences.
1) The document discusses consumer behavior and preference analysis using the concepts of indifference curves and utility maximization. It outlines the cardinal and ordinal approaches to analyzing consumer choice.
2) Under the cardinal approach, utility is measurable and consumers aim to maximize total utility subject to budget constraints. The ordinal approach uses indifference curves to model preferences graphically without quantifying utility.
3) The key assumptions of the ordinal approach are introduced, including complete preference ordering, transitive preferences, and diminishing marginal rate of substitution. Indifference curves illustrate combinations of goods that provide equal utility.
The document discusses concepts related to consumer behavior theory including utility, marginal utility, indifference curves, and budget constraints. It defines key terms, outlines assumptions, and describes properties and implications. Specifically, it explains that indifference curves represent combinations of goods that provide equal utility, have a negative slope and convex shape, and do not intersect. The budget line shows affordable combinations given prices and income. Consumer equilibrium occurs at the tangency point of the highest attainable indifference curve and an individual's budget line.
This document provides an overview of concepts related to the law of demand, including:
- Utility and the cardinal and ordinal approaches to measuring utility. It also discusses Giffen goods.
- The determinants of consumer choice and the assumptions used in economic analysis, such as rationality, utility maximization, and budget constraints.
- Indifference curves and how they represent combinations of goods that provide the same level of satisfaction to a consumer. Key properties like downward sloping and convex curves are explained.
Consumers must make optimal purchasing decisions given limited resources by weighing trade-offs between goods using indifference curves and budget curves. Budget curves show the maximum quantity of each good that can be purchased given prices and total budget, defining the opportunity cost of one good in terms of another. Indifference curves represent preferences, depicting bundles of goods that provide equal utility. Together, these tools allow economists to predict consumer behavior and consumers to maximize utility subject to their budget.
This document discusses the theory of consumer behavior and indifference curves. It defines key concepts like utility, marginal utility, total utility, consumer's equilibrium, indifference curves, and the budget line. It explains that consumer equilibrium is reached where the budget line is tangent to the highest indifference curve, indicating that the consumer is maximizing satisfaction given their budget. The properties of indifference curves are that they slope downward, are convex to the origin, and do not intersect, with higher curves representing greater satisfaction.
This chapter discusses key concepts of consumer behavior including:
1) Consumer preferences are represented by indifference curves which have properties of completeness, transitivity, more is better, and diminishing marginal rate of substitution.
2) A consumer's opportunities are defined by their budget constraint which shows affordable combinations given prices and income.
3) Consumers seek to maximize utility by equating marginal rate of substitution to price ratio, reaching the point of consumer equilibrium.
4) Changes in prices and income shift the budget constraint, causing substitution and income effects that lead to a new consumer equilibrium point along a higher or lower indifference curve.
This document provides an overview of consumer behavior theory and concepts. It discusses the determinants of demand, marginal utility analysis including the law of diminishing marginal utility, and the ordinal and cardinal approaches to measuring utility. It defines key terms like utility, marginal utility, and total utility. It also covers indifference curve analysis and the budget line/budget set that represent the consumption possibilities and constraints for a consumer. The purpose is to understand the various factors that influence how consumers make choices to maximize satisfaction given prices and income.
It is a stream of social sciences and commerce.
It is a study of production, consumption, distribution and regulation of flow of goods and services in an economy.
It has a direct relation with money.
It studies the economic aspect of goods and services provided in the economy.
It is a wider concept and hence affects the overall conditions of the economy.
It has two major segments: micro and macro. It is derived from Greek word ‘Mikros’.
It creates efficiency and smoothens up the process of final consumption of goods and services.
It tries to understand the problems that occur while producing, distributing and consuming a product.
It deepens our understanding.
Consumption is a broader term and it is the essence of economics. Economists generally consider consumption to be the final purpose of economic activity, hence consumption per person is a central measure of an economy’s productive success.
Consumption in economics means utilization of a product or a commodity and to derive benefits from the same. The utility of a product will help us in satisfying our needs and hence it is consumption.
Consumption can be defined in different ways, but is usually best described as the final purchase of goods and services by individuals. The purchase of a new pair of shoes, a burger at the fast food restaurant, or the service of getting your house cleaned are all examples of consumption.
It is a state of maximum satisfaction from a consumption.
A producer will obtain the stage of equilibrium when he will get maximum profit from his production.
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case refers to a condition where a market price is established through competition.
This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes and the quantity is called "competitive quantity" or market clearing quantity.
Key concepts covered include the law of diminishing marginal utility, the principle of equi-marginal utility, properties of indifference curves, and how budget lines represent the constraints consumers face when making choices.
The document discusses theories of consumer choice, including the cardinal and ordinal approaches. It provides details on:
- The cardinal approach, also known as the law of diminishing marginal utility, which assumes utility can be measured and that marginal utility decreases with increasing consumption.
- Indifference curves and marginal rate of substitution, which are tools of the ordinal approach that does not measure utility directly but rather analyzes consumer preferences.
- Assumptions of both approaches, such as consumers rationally substituting goods to maximize satisfaction and preferences being consistent.
- Concepts like consumer surplus, which is the difference between what a consumer would be willing and able to pay for a good or service.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
Consumer behavior is the study about how the consumer purchases various goods and services with his/her limited resources (income).
Utility:- Utility is the ability or power goods or services to satisfy the wants of a consumer.
MG University MBA Theory of consumer behavior .ideal for MG University MBA degree 2020-22 .cardinal and ordinal utility analysis is mentioned with examples.
easy to understand very helpful for students .................................................................................................................
rights to respective owners..............................................................................................................................................................................................................................................................................................................................................................................................................................................................
- Consumer theory analyzes how individuals make choices given limited budgets and preferences. It assumes consumers rationally choose bundles that maximize their utility or satisfaction.
- A budget constraint shows affordable combinations of goods given prices and income. Indifference curves represent bundles providing equal utility, with higher curves preferred. Consumers maximize utility at the highest indifference curve possible given their budget.
- When prices or income change, consumers substitute toward relatively cheaper goods to stay on the highest possible indifference curve. This substitution effect impacts demand for goods.
This document provides an overview of consumer equilibrium using the utility and indifference curve approaches. It discusses key concepts like utility, marginal utility, consumer surplus, indifference curves, and properties of indifference curves. Consumer equilibrium occurs where the budget line is tangent to the highest indifference curve, indicating the consumer has maximized satisfaction given their budget. The document also includes sample questions to test understanding of these concepts.
This document discusses theories of consumer behavior, including cardinal and ordinal utility analysis. It covers cardinal utility theory developed by Alfred Marshall, which assumes utility can be quantitatively measured. It also covers ordinal utility theory and indifference curve analysis, which were developed by others to address weaknesses in cardinal utility. Indifference curves graph combinations of goods that provide equal satisfaction given constraints. The properties, marginal rate of substitution, budget constraints, and uses of indifference curves are also explained.
This document provides an overview of utility analysis and consumer behavior theory. It discusses key concepts like demand, utility, marginal utility, total utility, consumer surplus, and indifference curves. Specifically, it defines utility as the satisfaction received from consuming a good or service. It explains that utility is subjective and hard to measure directly. The document also outlines the laws of diminishing marginal utility and different approaches to measuring utility, including cardinal and ordinal measurement. Finally, it introduces concepts like marginal utility analysis, indifference curves, and consumer surplus that are important tools for understanding consumer choice.
This document provides an overview of consumer behavior theory and key concepts including:
1) Marginal utility analysis and the law of diminishing marginal utility which states that additional utility from consumption declines as more is consumed.
2) Indifference curve analysis which uses indifference curves to model equal levels of satisfaction from different consumption bundles.
3) The budget line and budget set which represent the consumer's purchasing constraints given prices and income.
4) Consumer equilibrium which occurs where the budget line is tangent to the highest indifference curve, maximizing satisfaction within constraints.
This document provides an overview of consumer behavior theory, including key concepts like utility, marginal utility, indifference curves, and consumer equilibrium. It discusses utility and its characteristics, the law of diminishing marginal utility, approaches to consumer behavior, indifference curves and schedules, properties of indifference curves, budget constraints, and how consumer equilibrium is reached at the point of tangency between the budget line and the highest attainable indifference curve.
This document provides an overview of consumer behavior theory, including definitions of key concepts like utility and marginal utility. It discusses the law of diminishing marginal utility and illustrates it with a graph. It also covers the ordinal and cardinal approaches to measuring utility, the concept of a consumer's budget line and budget set, and indifference curve analysis as a way to understand consumer preferences.
1) The document discusses consumer behavior and preference analysis using the concepts of indifference curves and utility maximization. It outlines the cardinal and ordinal approaches to analyzing consumer choice.
2) Under the cardinal approach, utility is measurable and consumers aim to maximize total utility subject to budget constraints. The ordinal approach uses indifference curves to model preferences graphically without quantifying utility.
3) The key assumptions of the ordinal approach are introduced, including complete preference ordering, transitive preferences, and diminishing marginal rate of substitution. Indifference curves illustrate combinations of goods that provide equal utility.
The document discusses concepts related to consumer behavior theory including utility, marginal utility, indifference curves, and budget constraints. It defines key terms, outlines assumptions, and describes properties and implications. Specifically, it explains that indifference curves represent combinations of goods that provide equal utility, have a negative slope and convex shape, and do not intersect. The budget line shows affordable combinations given prices and income. Consumer equilibrium occurs at the tangency point of the highest attainable indifference curve and an individual's budget line.
This document provides an overview of concepts related to the law of demand, including:
- Utility and the cardinal and ordinal approaches to measuring utility. It also discusses Giffen goods.
- The determinants of consumer choice and the assumptions used in economic analysis, such as rationality, utility maximization, and budget constraints.
- Indifference curves and how they represent combinations of goods that provide the same level of satisfaction to a consumer. Key properties like downward sloping and convex curves are explained.
Consumers must make optimal purchasing decisions given limited resources by weighing trade-offs between goods using indifference curves and budget curves. Budget curves show the maximum quantity of each good that can be purchased given prices and total budget, defining the opportunity cost of one good in terms of another. Indifference curves represent preferences, depicting bundles of goods that provide equal utility. Together, these tools allow economists to predict consumer behavior and consumers to maximize utility subject to their budget.
This document discusses the theory of consumer behavior and indifference curves. It defines key concepts like utility, marginal utility, total utility, consumer's equilibrium, indifference curves, and the budget line. It explains that consumer equilibrium is reached where the budget line is tangent to the highest indifference curve, indicating that the consumer is maximizing satisfaction given their budget. The properties of indifference curves are that they slope downward, are convex to the origin, and do not intersect, with higher curves representing greater satisfaction.
This chapter discusses key concepts of consumer behavior including:
1) Consumer preferences are represented by indifference curves which have properties of completeness, transitivity, more is better, and diminishing marginal rate of substitution.
2) A consumer's opportunities are defined by their budget constraint which shows affordable combinations given prices and income.
3) Consumers seek to maximize utility by equating marginal rate of substitution to price ratio, reaching the point of consumer equilibrium.
4) Changes in prices and income shift the budget constraint, causing substitution and income effects that lead to a new consumer equilibrium point along a higher or lower indifference curve.
This document provides an overview of consumer behavior theory and concepts. It discusses the determinants of demand, marginal utility analysis including the law of diminishing marginal utility, and the ordinal and cardinal approaches to measuring utility. It defines key terms like utility, marginal utility, and total utility. It also covers indifference curve analysis and the budget line/budget set that represent the consumption possibilities and constraints for a consumer. The purpose is to understand the various factors that influence how consumers make choices to maximize satisfaction given prices and income.
It is a stream of social sciences and commerce.
It is a study of production, consumption, distribution and regulation of flow of goods and services in an economy.
It has a direct relation with money.
It studies the economic aspect of goods and services provided in the economy.
It is a wider concept and hence affects the overall conditions of the economy.
It has two major segments: micro and macro. It is derived from Greek word ‘Mikros’.
It creates efficiency and smoothens up the process of final consumption of goods and services.
It tries to understand the problems that occur while producing, distributing and consuming a product.
It deepens our understanding.
Consumption is a broader term and it is the essence of economics. Economists generally consider consumption to be the final purpose of economic activity, hence consumption per person is a central measure of an economy’s productive success.
Consumption in economics means utilization of a product or a commodity and to derive benefits from the same. The utility of a product will help us in satisfying our needs and hence it is consumption.
Consumption can be defined in different ways, but is usually best described as the final purchase of goods and services by individuals. The purchase of a new pair of shoes, a burger at the fast food restaurant, or the service of getting your house cleaned are all examples of consumption.
It is a state of maximum satisfaction from a consumption.
A producer will obtain the stage of equilibrium when he will get maximum profit from his production.
In economics, economic equilibrium is a state where economic forces such as supply and demand are balanced and in the absence of external influences the (equilibrium) values of economic variables will not change.
Equilibrium occurs at the point at which quantity demanded and quantity supplied are equal. Market equilibrium in this case refers to a condition where a market price is established through competition.
This price is often called the competitive price or market clearing price and will tend not to change unless demand or supply changes and the quantity is called "competitive quantity" or market clearing quantity.
Key concepts covered include the law of diminishing marginal utility, the principle of equi-marginal utility, properties of indifference curves, and how budget lines represent the constraints consumers face when making choices.
The document discusses theories of consumer choice, including the cardinal and ordinal approaches. It provides details on:
- The cardinal approach, also known as the law of diminishing marginal utility, which assumes utility can be measured and that marginal utility decreases with increasing consumption.
- Indifference curves and marginal rate of substitution, which are tools of the ordinal approach that does not measure utility directly but rather analyzes consumer preferences.
- Assumptions of both approaches, such as consumers rationally substituting goods to maximize satisfaction and preferences being consistent.
- Concepts like consumer surplus, which is the difference between what a consumer would be willing and able to pay for a good or service.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
The Impact of Generative AI and 4th Industrial RevolutionPaolo Maresca
This infographic explores the transformative power of Generative AI, a key driver of the 4th Industrial Revolution. Discover how Generative AI is revolutionizing industries, accelerating innovation, and shaping the future of work.
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...
Consumer.Behavior.pptx
1. The theory of Consumer behavior
• Consumer behavior is the study of
how individual consumers, groups or
organizations; select, buy or use goods
and services to satisfy their needs or
wants.
• It therefore refers to the actions of
individuals in the market place and the
main motives behind those actions.
• Lauden and Bitta look at consumer
behavior as the decision process and
physical activity which individuals
engage in when evaluating, acquiring,
using or disposing of goods and
services.
2. Nature of Consumer behavior
Consumers optimization problem
Individuals consumption decision are made
with the goal of maximizing total
satisfaction from consuming various goods
and services,
subject to..
The constraint that spending on goods and
services exactly equals the individuals
money income.
Consumer behavior is
influenced by;
• Marketing factors such as design,
price, promotion, packaging,
positioning and distribution.
• Personal factors such as age,
education, gender and income
level.
• Social factors such as social
status, and family issues
• Cultural factors such as religion
• Psychological factors such as
buying motive
3. Consumer theory (ii) Requires that consumers can rank all
consumption bundles based on the level of
satisfaction they would receive from consuming
the various bundles
The consumer theory assumes
that;
(i) Buyers are completely
informed about;
• Range of products available
• Prices of all products
• Capacity of products to
satisfy
• Their income
4. Properties of Consumer preferences
(iii) Non satiation
More of a good is always preferred
to less
(i) Completeness
For every pair of consumption bundles, A and B,
the consumer can say one of the following;
• A if preferred to B
• B is preferred to A
• The consumer is indifferent between A and B
(ii) Transitivity
If A is preferred to B, and B is preferred to C,
then A must be preferred to C
5. Utility • Utility is a psychological phenomenon that
implies the satisfying power of a good or
service
• It differs from a person to person and it
depends on persons mental attitude. The
measurability of utility is always a matter of
contention
Utility
These are benefits consumers
obtain from goods and
services they consume.
Utility Function
It shows an individuals
perception of the utility level
attained from consuming each
consumable bundle of goods.
6. Cardinal Utility approach to
consumer behavior • However, it has been raised with passage of
time that the cardinal measurement of utility is
not possible and hence less realistic.
• There are many difficulties in measuring utility
numerically, as utility derived by the consumer
from a good or service depends on a number
of factors such as mood, interest, taste or
preferences.
Many traditional economists like
Alfred Marshall hold a view that
utility is measure quantitatively
like length, weight, height or
temperatures.
This was based on cardinal
measurement of utility for which
these neo classical economists
coined the term “util” as the unit
of utility.
Accordingly, one util is equal to
one unit of money and there is
constant utility of money.
7. Ordinal utility
• In this way, measurement of utility is ordinal
i,.e. qualitative based on ranking of
preferences for commodities.
• For example, suppose a person prefers tea to
coffee and coffee to milk. He or she can not
tell subjectively; his or her preference. i.e.,.
Tea is better than coffee and coffee is better
that milk.
• This approach is propounded
by modern economists J.R
Hinks, R.G.D Allen who
argue that it is not possible to
measure utility quantitatively.
• Modern economists hold that
“a person can introspectively
express whether a good or
service provides more, less or
equal satisfaction when
compared to one another.
8. Indifference curves U=f(X,Y)=K
Assumptions of and indifference curve
• Rational consumers
• Two commodities
• Utility is measured ordinally
• Diminishing marginal rate of substitution
• Consistence and transitivity of choice
• An indifference curve is a locus of points –
particular combinations or bundles of
goods which yield the same level of utility
(satisfaction) to the consumer so that he is
indifferent as to the particular combination
he consumes.
• It shows a combination of two goods that
gives the same level of satisfaction to the
consumer.
• Each point on the indifference curve shows
that the consumer is indifferent between
the two and all points give him the same
utility.
9. Properties of an indifference
curve • Indifference Curves analysis
They include the following;
• Negatively and downward
sloping
• Further away from the
origin and indifference
curve lies, means more
satisfaction.
• Indifference curves do no
intersect
• Convex to the origin
13. Marginal Utility Relationship between TU & MU
Consumer equilibrium
Under cardinal approach, the consumer is in
equilibrium when he equates marginal utilities of
goods consumed to the prices paid for those goods.
MU(X) =Px (X)
Addition to total utility attributable
to the addition of one unit of a good
to the current rate of consumption,
holding constant the amounts of all
other goods consumed.
MU𝑥 =
𝐶ℎ𝑎𝑛𝑔𝑒 𝑖𝑛 𝑡𝑜𝑡𝑎𝑙 𝑈𝑡𝑖𝑙𝑖𝑡𝑦
𝐶ℎ𝑎𝑛𝑔𝑒 𝑖𝑛 𝑄𝑡𝑦 (𝑋)
Quantity TU MU
0 0 -
1 5 5
2 9 4
3 12 3
4 14 2
5 15 1
6 15 0
7 13 -2
14. Consumers Budget line • A budget line therefore shows all the
combinations of two goods.
• The consumer can buy spending his given
money income at their given prices
• All those commodities which are with in the
reach of the consumer will lie on the budget
line.
It Shows all possible commodity
bundles that can be purchased at
given prices with a fixed money
income.
In an attempt to attain more and
more satisfaction, the consumer
experience two major constraints;
(i) He has to pay the prices for
goods and services
(ii) He has limited money income
with which to purchase the
goods