Hello students, now let us start to your journey in 12th Standard, now when I talk about 12th standard economics today we are going to start with very interesting topic and topic is all about the students, Consumer Behavior. What is this consumer Behavior let us start very first module, and in this module we are going to introduce the topic Part-1 so now when I start with the introduction let us study this topic with an example . abhi tum log screen pe dekha there is a man so this man has certain kind of wants the desire, now what are the desire of this man, to start with delicious food second to wear a good cloths and to look a better personality uska aur ek want hai I want a very good and beautiful house too stay, the next one is muje thoda relax hona hai, I want to go on a tour , also he want a car ky hai ye sab students? What are all these, your are right these are nothing else but the wants of the consumer. So even you ever want, even I have a want and even this man has a want. But remember one thing students we are humans and we are worst animal on this earth and when I say we are worst that means are wants are unlimited , ki ek khatam nai hua to dusra want hota hai dusra khatam hone wala rehta hai to tisra want appear ho jata hai , so humans wants are always unlimited, now to satisfy this wants what i require students, listen to me very carefully I require resources ,what kind of resources now resources like it can be land or it can be labour, students even it can be capital or it can be entrepreneur. So what all these are, perfect, they are the resources lekin ek taklif hai yaha par abhi 2 min pehle mene ky bataya students we are humans and humans wants are unlimited so now when I compared wants and resources students wants are more compared to resources , so whenever I compare my unlimited wants with the given amount of resources the wants are always more and hence as a consumer we have to make a choice now when I see we have to make a choice matlab mai mere sare wants satisfy at a same point of time nai kar sakta so I have to make a choice and this choices students reason for any economic problem remember this . Let us continue with the introduction part generally, utility means usefulness of a commodity but now when I talk from economics point of view utility means “WANT SATISFYING POWER OF A COMMODITY”remember it is “WANT SATISFYING POWER OF A COMMODITY”. Confused let us understand this again with an example as u can see on the screen there is a thirsty boy, so this boy is very thirsty so can I say student to satisfy his thirst, he needs something , muje bahut pyas laga hai “pani’ so what he need can I say he will demand a product and when I say he demand a product that product is nothing else but water so why he is demanding the product water “bahut payas laga hai pani, pani, oh I am drinking water, “ wow , can I say the product have the capacity to satisfy the want of this thirsty boy so can I say students water has the capacity to QUENCH the thirst , muje baut pyas laga tha mene pani ko demand kiya and the water has the capacity remember water has the capacity to QUENCH the thirst mujhe bahut payas laga tha maine pani ko demand kiya and this water has the capacity to quench my thirst that means students water has the power to satisfy the want of this thirsty boy. There can be many products but in my example was water so water had the power to satisfy the want and hence I conclude students, water has utility, so remember one thing what is utility in economics says it is WANT SATISFYING POWER OF A COMMODITY and in my example the water had the power, the power to satisfy the want of this thirsty boy and hence I said water has utility. So common students this was the very first module and I hope a small information of what is utility is cleared will again talk again what is utility in the next module.
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