An essential component of economics is consumer behavior, which examines how people and households decide what to buy, consume, and do with products and services. For businesses, decision-makers, and economists, comprehending consumer behavior is crucial because it offers insights into market dynamics, demand patterns, and the efficacy of monetary policies. An overview of consumer behavior in economics is given in this chapter, along with important determinants of decision-making, theories and models for behavior analysis, and consequences for market outcomes and economic wellbeing.
Consumer Behavior, Diminishing Marginal, Declining Marginal, Good Service, Law Diminishing.
[Dr. Mounica Vallabhaneni (2022) Introduction to Consumer Behaviour in Economics] (ISSN 2347 - 5552). www.ijircst.org
Dr. Mounica Vallabhaneni
Assistant Professor, Department of Commerce And Economics, Presidency University, Bangalore, India,
Email Id-mounicav@presidencyuniversity.in
