very good afternoon everyone okay um well it's good to see you and I apologize U because I kept changing the time for the short notice uh sorry for uh this inconvenience uh but anyway uh thank you for your patience and thank you for your understanding uh uh you know like so today um we are going to discuss about a very important issues I think in the Eco 2011 in the microeconomics uh subject so today uh we're going to discuss further about the uh consumer Theory um for those who uh have a experience before doing the uh degree in economics I believe that you guys already you know like uh learn about this Theory before and I believe that you know like uh I hope that this is the things that you know like uh okay so sadik said that interational are happy with this change in time I know that you guys have to deal with the difference in thaia but anyway I'll do my best you know like uh to make it more consistent uh and well again if you happy with the afternoon class I will propose it to uh The Faculty staff but I think uh there are some of you uh have a you know a conflicting uh schedule uh because I think some of you already enroll in the different classes in different class in the same time but anyway uh let's see I'll do my best to make sure to accommodate all of the students uh here so yeah so today like I told you and just want to focus on the consum theory so I split into four uh points here uh to discuss further about uh the uh the the things that we are going to discuss on a consumer theory of course number one you should know about the uh consumer behavior number two uh the behavior I think was supposed to be uh lead by the uh choices so you know like uh people going to respond choices if you have more choices it will be uh more you will be more happy as a consumer because you have a extra options then uh of course um for Point number three um uh since you have a choices if and you have a behavior of course it depends on the budget as well you know like if you are rich enough you have a flexibility to buy more and more goods or services but if you have a limited budget of course you have to prioritize which uh choices or which uh uh Goods or service that you have to uh fulfill first you know like from the primary to the tertiary products or services and then the last Point here you know like I'm trying to focus on the preferences uh later on we are going to discuss about the consumer preferences it depends on the choices that we have and also depends on budget constraints do you uh have um in order to fulfill your needs talking about the consumer Behavior Uh I think we have discussed um in the previous session that you know like when we are talking abouts when we studing economics uh we are dealing with so many choices of course uh if you have so many choices it's mean that you have so many preference so it depends on your taste right but of course you know like uh uh regarding that kind of situations uh consumer also dealing with the constraint with the limitation so we call it as a budget constraint so I know that people want to buy more and more but you know like um as a individual you have to uh think twice uh which one that you have to buy first you know like it's about the priority you have to prioritize on something and then as as a consumers can say that you know like you going to deal with so many uh choices like I mentioned before and then I think the consumers will do their best you know like uh uh and the the discussion that we have uh had uh in the previous session you know like consumer usually focusing on how to maximize their utility meanwhile the company or the U uh uh firms trying to maximize their profit so basically there's a different things between consumer and producers we are going to discuss about the producer Theory uh in the next week okay so uh just focus on the consumer Theory first so this kind of preferences and then this kind of constraints that always facing by uh the individual so this is things these things that could determine the demand you know like so at the end you know like you have to know what I mean by the consumption I think we discuss uh even though this is not my uh uh authority to discuss about the microeconomics things and I believe that your uh e202 microeconomics under uh Professor um uh hamidi you guys have learned about a component called the consumption it could be a government consumption and also it could be uh you know like uh household consumption but in this case since we are doing a microeconomics so your guys dealing with the individual consumption so so we're talking about the uh fudgers consumption talking about uh s consumption and uh some of uh and many individual uh consumption but when you're trying to aggregate all the consumption uh so we call it as a you know like aggregate consumption so basically it's a part of the macroeconomy bre the Eco to2 the other application that you have to you know like U know uh when we are talking about the consumer Choice it could be about the consumption uh in the labor Supply um you know like uh nowadays I believe that uh we have some issues that you know like the the the Labor uh Market is a bit different it it is a bit different because of the technological disruptions because there are some of the you know like uh uh uh artificial intelligence or the technology that can well I'm not saying that 100% substitutes the human but at least you know like uh they trying to you know like uh replace uh the the role of the human being in this case not 100% because I believe that when you are dealing with the AI with you are dealing with the technology we also need a human in order to operate you know like to deal with with this uh uh operations of the AI for the technology and also you know like talking about the financial markets you know like um again this is a microeconomics concept when you're talking about the financial markets I believe that you have so many options you may put your money in the context of Suk hook you may put your money in in the in the form of the green bonds uh you know like you may put your money uh in the stock market you can deposit your money you can save your money without a low rate in the bank so there's so many options so basically there are so many application that you can deal with this uh consumer choice and consumer the and then what are the Assumption about consumers okay so basically as a consumers you know like um well of course you know like you have to you are price taker you are not a price maker okay consumer going to take the price as given by the firms or the company who sell the goods or services and then there are also assumptions that you know like we assume that there's a perfect information so there will be no what soal as a asymmetric information a black market like uh you know like a informal Market uh some things that cannot be seen or cannot be recorded So basically we assume that everything is a perfect things you know like and then we already know the characteristic of the products we know what choices that we may face you know like so everything you know like uh this is things that uh uh to Define uh the perfect information and then the the last assumptions that you have to consider of course people are free to choose there is no limitation there is no barriers to choose whatever you want to consume right again it depends on your uh budget of course if you have more budget if you richer if you are a rich guy or Rich uh uh Rich uh person of course you may buy anything that you want but if you have a limited budget of course you have to like I mentioned to prioritize the consumption that you really want to make so that's the consumer behavior and then what what does it by the consumer Choice then so people going to choose uh products uh goods or services it depends on the available options that they uh see or they face you know like uh of course for example you know like you have an option to buy a mobile phones whether you are like an Android User or you are an iOS user so you prefer to buy a products of apple or you before to buy a products of many brands that you can name it as a Android mobile phones right well assuming that you know like we just pick the best one let's say Samsung you know like Samsung is the Android uh phone and then you know like and then you are dealing with the uh apples with the iPhone so it depends on you and depends on your uh budget if you think that you have a you know like a more spacious budget uh spacies money to consume you know like and you may buy um you know like uh the the U the pricey one you know the most expensive one but if you have a limited uh budget of course you have to think twice uh whether you have to you know like uh um you know like uh pick the phone uh whether you want to pick the iPhone or the Android phone so again it's a it's an options and then talking about the needs or the you know like uh what does the consumer wants so I can say in this case that you know like later on we are going to discuss about what so called as the indifferent curve so basically this is the curve that showing the combination of products goods or services that you guys consume okay so later on I'm going to discuss I'm going to explain and then the utility at the end you know like um if you trying to buy something of course you have to uh measure the utility that may um generate uh buy uh the goods or service that you buy for example you know like when you visit the faculty building you know like uh your campus uh I believe that you know um there's a you know like a elep right you know like uh and then some of them is broken or still under maintenance can you imagine that the utility of having the elevator or a li you know like it might be uh very low because nobody use it it the LIF or the elevator is there and then nobody use it so basically the util the utility may be equal to zero How about if it is work I mean like uh the lift or the elevator works properly and then we can use it so I believe that the utility will be higher than zero or even you know like it it can be fully utilized and then it will be equal to one so that is the thing things that you know like uh uh the definition on how to understand about the utility um I hope that my voice is clearer because I did I didn't see any uh you know like a signal on my audio so is it okay with you guys I mean like my voice please let me know if you think that you cannot hear me clearly okay clear thank you thank you uh Karim uh for the uh you know like for the clarifications okay and then we can move on you know like U after knowing what is the consumer Behavior what is the consumer Choice and then the last uh I mean like the next part it will be the budget constraint so this is the things that you know like um it's it is a privilege for the uh you know like for the people uh if they the pre for the person I mean like so we talking about the microeconomics this is a privilege for the person if you have a more money if you have more money so it's mean that you can have more choices you can buy more uh uh things and buy more goods or services but if you have a limited uh money like I mentioned to you before that you have to prioritize for example now you know like when we are dealing with the assuming that we are still dealing with the crisis the pandemic crisis even though the covid-19 is already passed you know like now we are dealing with the post pandemic crisis we we we we know that it is very privileged for us if we still have like a uh High liquidity or High I mean if you still have a a bunch amount of money to be consumed right you can buy for example nowadays people k to buy um electric vehicles right they buy a car because now it is more affordable for them to buy the electric vehicle why because I don't know because in in this case that EV it's a part of the life style of the people who want to make uh you know like uh make our Earth cleaner yeah I assume or maybe it's a part of you know like okay so I already have the uh fuel car you know like the com the the the the internal comus engine or IC car and now I really want to have a eveve you know like or even you know like people for example like me I prefer to buy uh a hybrid car first you know like and then probably later on I will buy an EV car because of some of the some consideration of course so this is the things that probably you know like it's a part of the process you know like people want to buy some things and then can you imagine that in the beginning people when we people only look at uh Tesla if they really want to know about the electric vehicles but nowaday Tesla have so many comp competitors even in the context of the global market uh the Chinese manufacturers like byd I think is already taking a place as a you know like a biggest uh uh uh eeve uh manufacturers uh in the context of you know like uh uh selling you know like nowadays you know like you can see especially in Jakarta or in the in Java Islands there are so many uh you know like um uh uh Chinese car uh that can be seen and then I I assume that it is because of that free market or free competitions and now people have a you know like a affordability to buy the Eevee before the E's uh car at least you have to spend like 100,000 right but now I think if you have a like a 20,000 or 30,000 doar you still you you um you can buy uh the EV so basically that's the uh it depends on your budget so here you know like if we assume that you know like you only have two choices you know like of course you know like um this is only for the for the sake of simplification in order to understand or to explain about the threat off that consumer may have uh and then of course you know like um uh uh if if we are dealing with uh uh two goods it will be more um uh easier for us to make uh analysis but if you have more than that like let's say three or four or 100 or even 1 million choices it will be so difficult for us to you know like uh to analyze because of course when we are talking about two goods it's only like a showing like a two uh axis right like say the y axis and x-axis but if you have like a three combinations that you have to you should have like a 3D uh pictures or 3D curve and then there will be like a x axis Y axis or even Z axis and you can imagine you know like if you have a uh 1 million choices so you have so many aises there and then it the the pictures will be a bit uh messy and it will be so difficult to understand okay just give you like a some uh example you know like on how to understand about choices okay assume that we have a two goods here uh we have a coffee and buns so basically you know like we assume that the price of buns is around $2 per buns and then the price of coffee is will be $1 per cup of coffee of course this is not Starbucks because Starbucks is could be more than $11 you know like if you just buy Americano so it will cost you like a for example at least you know like in jakata uh yeah $2 so if you know um you know like um um friendly with rupia so it will cost you at least 30,000 or 40,000 rupia for a cup of coffee like American coffee here it will be a different story if you buy a coffee like the shash one I mean like uh if you buy in the you know like a traditional uh shop or even we call it as uh the bike the bicycle who sell the coffee you know like uh that sell the coffee uh well you can get like probably like a 50 Cent or yeah $1 coffee there anyway so in order to um well assume that well the price of bond is $2 per Bond and price of coffee is a $1 per cup of coffee and then assume that you have a $20 income per month so in order to you know like uh okay of course you also uh you know like taking my um courses in the mathematical economy so in order to convert The Narrative into the mathematical terms so you can make it a budget constraint as a PB which is the price of bond times the the QB which is the quantity of pond uh and then you plus the price of coffee times quantity of coffee and it will be equal to Y so y basically is your income so you're going to have the combinations you know like of how many bus that you can afford and how many coffee that you can buy and you can bring okay and then you can rearrange it the combination of the quantity of the bond that you can consume and the quantity of coffee that you can consume by rearranging this mathematical uh uh forms so at the end you know like if you want to uh see the budget line uh or the budget constraint so it will be the equation it will be the quantity of P it will be equal to a plus b times the quantity of coffee so later on you know I will show it to you uh how it could be uh you know like a uh could be drawn in the curve analysis so it will be easier for you to understand so at the end you know like since that you're going to have the combination of how many buns that you can consume and how many cup of coffee that you can consume so it depends on your budget so assuming that you can uh in this case let's say that you don't consume coffee at all so with $20 maximum bun that you can consume it will be 10 buns because 10 buns the quantity of buns times the price of buns still be $20 so $20 is the maximum money that you have and how many cup of coffee if you if you can consume if you don't uh uh buy a buch at all or with zero bun of course you know like uh by doing like a arranging the equations here so assuming that the price of the coffee is $1 so the quantity of coffee it will be 20 cup of coffee that you can consume if you're not buying a bunch at all so later on there will be like a substitutions uh you know like a uh shift so we call it as the marginal rate of transformation or MRT so MRT is not a mass rapid transport not the train that we have here in jakata or in your country but this is the basically is the slope that showing the thread off between coffee and B consumption so and let on you know like um the shift of the you know like U uh the uh the composition or the combination between coffee or p it depends on you know like uh how much money that you have and how much uh how for favorable uh you consume the coffee or you consume the Buns I'm going to show it to you later on here then so it will make you uh easier to understand so here I think I already show you to you let's say that the Buns the quantity of buns as a y AIS here and the quantity of coffee is xaxis here so I I told you before that since uh the price of pond it will be $2 so if you not consuming coffee at all so it will be here zero but you can consume 10 of buns and on the other way around if you don't consume buns at all you can consume the coffee uh you can consume 20 cup of coffee so it will be like a straight line here so this is what we call as budget line and then the um the combinations along this budget line so basically this is the consumtion that consumption that you can afford the question is do you think that you can you know like a uh consume the buns and the coffee if the combination is beyond this line of course the answer is of course not because you know like you may consume the quantity of bond and the quantity of consumption within the budget line like below this line but if you thinks that you you know like uh you want to consume even further or Beyond so in this case that you cannot do that because why because of your budget so Bas basically that's the idea about the uh budget line okay so thank you fad for uh responding to my uh questions uh and then yeah uh that's the the idea and then you can see that this slope basically trying to show the uh marginal rate of uh trans uh transformation like I mentioned the MRT so let's say that you sacrifice uh one BN so it's mean that if you want to uh consume the coffee you have to if you want to consume more coffee it's me that you have to sacrifice a bun that you want to eat and the other way around if you want to consume more bun so you have to sacrifice the quantity of coffee that you want to drink so this is the things that you going to uh learn from this simple line we call it as the budget line so we are understanding about The Intercept we are understanding about the slope and this slope basically showing the relative prices and the opportunity cost if you think that you are willing to sacrifice more Goods more specific Goods to others so it's mean that the opportunity cost to consume that Goods it will be higher than the one that you sacrifice you know you got what I mean so basically you know like okay so I'm going to because I want to uh deal with my assignment so it's mean that I want to more coffee and I will sacrifice the bun that I want to culture or the other I'm so hungry uh I don't want to uh feel awake because I don't have any assignment to do tonight so I want to eat more so it's mean that you have to sacrifice uh the coffee consumption and then you prefer to buy more buns in order to you know like uh to fulfill your um uh to fulfill your uh needs um Ananda asked me a questions Do we have an equilibrium point of this Bond and cof of course uh yes the equilibrium is it is along the budget line so as long as you still can you know like uh reach the $20 as your maximum budget so basically that's the equilibrium either you are in this point when you don't consume coffee at all or you are in this point when you don't consume bun at all okay so basically this is the long of the this is the equilibriums that you can uh reach and then and then this is the combination that you can also uh you know like uh uh reach you know like with your $20 of money so I hope that you uh get the uh points then Ananda so is there any direct or indirect relation in coffee and Bean if we keep budget aside for a while yeah well again this is like a very uh simple uh uh examples um you know like uh for you to understand uh fad so that why you know of course in the real life we not only dealing with the bun and coffee right we might dealing with the prata with the CH you know like with some others like chicken Momos yeah I like chicken MOS I don't when I was in India I like to eat chicken MOS basically MOS is basically is a diam like a South Asian deam okay and then you know like um yeah so again it depends you know like um um uh so this is only for the sake of the simplification so if you ask me if there is is there any direct or indirect relation in coffee of course you know like since that we are dealing with only these two um you know like uh Goods or products of course there's a direct uh relationship between uh the uh bun and coffee and it depends on what are your most uh you know like uh uh consumable products I mean like it depends on your um you know like uh choices or your your needs right so this is in this case that we're assuming that we are in dealing with the bun and coffee at all uh bun and coffee um I hope I answer your questions uh ananta and fad um and then for the further explanation here sorry um basically when you want to understand about the you know like uh the slope of the budget constraint uh well you know the slope right so we are talking about the demand and the supply curve before the slope is the downward for the demand and upward slopping for the supply so basically that's a slope and the slope of budget constraint basically is the rate of the at which the market allows consumer to subtit uh between a coffee and buns like I mentioned you're willing to sacrifice a coffee to Consumer bonds and the other way around you you willing to you know sec ifies funds in order to consume more coffee so again it depends on and then and then and then for the U you know like in the mathematical terms so basically it's a a Delta buns divided by the Delta coffee and then of of course it depends on the price of coffee divided by the price of bus the substitution could be made if something happened not only because of the test on or the preferences but of course it depends on for example you know like uh when we are dealing with the uh demand uh low of demand if the prices goes up so your demand will be lower right if the price is going down your demand will be higher so of course it depend for example if you think that oh now the coffee uh the price of coffee is not $1 anymore so it will become $2 so it's me that you have to you know like U uh there's like an increase of 100% right so it's mean that you have to um you know like rearrange your combination between coffee consumption and the bun consumption so if you think that ah it's too expensive and then you may uh you know like uh uh uh consume less coffee then you know because it is more uh expensive well you can imagine you know like uh uh the original price is $1 and now the price is uh will become $2 so it's mean that you know like usually you can uh drink two cup of coffee for $2 and now you only can drink one coffee for $2 so that's the way how to you know like uh deal with this kind of uh substitution effect so uh this is the things that you know like he also have to consider in order to you know like uh understand uh about the concept of the consumer uh Behavior consumer preferences and and also uh related to the budget line so this is the other uh explanation when we are trying to un understand further about uh the budget constraint so the question is you know like U is it possible for the budget uh to increase or to decrease of course it is it is it is possible why because you know like uh well for example before you only can earn $20 per per month yeah $20 per month is so low let's say before you can only earn $20 and then let's say that there is like a uh a policy to improve uh the earnings or the minimum wage let's say that now you you know like uh you can uh earn $30 of course if there's like a increase in income so you can shift this budget line even upward there you know like uh for example here before you are in this position and then let's say that your income increases to $30 so now you have more combination and then assuming that the price of the coffee and the price of bun not changing at all okay so this is what happens then when there's an increase in y and then of course you know like uh it could also uh have a impact on you know like on the budget line if there is a dynamic uh uh uh changes in prices so you can see that you know like a there will be like a rotations of well this is a shifting of the budget line right so if you in you in your income increases it could shifting to the right but if your income decreases it also can shift to the left okay so it could be shift to the right and shift to the left so what happen if the price or the price of the goods that we are dealing with let's say that we are dealing with the bun and coffee increases or decreases so in this case if the price of coffee increases to $2 so it mean that you have to what you have to rotate down your uh budget line from this points to this point why because uh when assuming that when you uh don't uh consume BN at all so you you you from 20 coffee that you can consume you know you only now can only uh buy 10 cup of coffee right because there's an increase of 100% from $1 $2 okay so this is the things that you know like you have to give up so so it can be rotate down like this what happen if what happen if the price of coffee decreases to one to 50 Cent for example so if the price of coffee decreases to uh 50 Cent or half dollars so it's it mean that you can consume more coffee right so it will rotate up like a rotates to the uh right so okay I think I will use the tape so it can rotate up like this and then now you may have a oop that sorry and then now you may have like more you know like a more coffee to consume right so basically this is a way how to okay so this one okay and then let's say with the half of dollars uh so it's mean that you can consume how much how much coffee with the total uh earnings of $20 so you may uh drink 40 coffee yeah yeah 40 coffee and then you will get a uh more Cafe in then yeah because 0.5 * 40 it will be $20 right so yeah you can consume 40 coffee so that's the way how you are going to you know like explain about the increase in the prices of coffee and then the the increases of decreases of income so the next question is how about if it is if it is B that change uh that uh uh because in this case that it depends uh it is the case when the price of coffee increases or decrease How about if the price of BNS increases or decreases so you can just do uh the other way around so let's say that you know like okay assume that we don't have these things yeah we can just let's say we eras this okay assume that now the price of uh B is uh $1 so if the price of B $1 so it's that you can consume more PS so it's mean that it will be 20 PS so again it's rotate uh uh up like this okay uh but if the price of bus let's say increase to$ so it's mean that you can only spend five pths so it will be down like this okay so it depends which prices they change coffee or bun the price the uh the goods in the y axis or the goods in the x-axis okay so that's the you know like an explanation for the changes in budget uh constraint uh I know how to okay post this okay um yeah this yeah thank you filza uh well you you may say it as like a shift outwards or inwards okay so it's it's it's it's up to you which uh terms that you prefer uh in order to explain uh the uh the changes or the Dynamics of the budget constraints um and then the consumer preferences okay uh so we uh hope that you know like uh have a more time later on at the back to discuss uh further about this uh consumer Theory so let's me finish uh uh the uh the slide first and after that we can have more time to uh discuss but anyway you can also you know like write something in the chat box or if you want to uh uh you know like ask anything also you can just write it down in the chat box okay so yeah again talking about the preferences well the idea here I think we assume that you know like people or individual or as a consumer want to maximize their your utility to optimize the utility if the utility is getting higher and higher so the individual or the persons that we are dealing with here uh uh probably could get more happier it could be it could get happier and happier okay so happiness may have a you know like strong correlation or relationship with the utility uh for example you know like again I I assuming that because I sometime when I visited the campus you know like if there is like a broken elet I really uh sad you know like uh I'm not happy in that case because why the utility of the elator is very uh low or even zero and then I'm sad but if the eleat can be used you know like the utility will be higher and then I'm I will be more happy because my room my office there it's at uh third floor so I have to take the later in order to go upstairs so it will be uh uh challenging for me that I have a very heavy weight here you know like to bring my body anyway but it's good for exercise though um so um okay so um okay so some of you ask me still about the coffee and Bun uh fad asked me sir is the increase in coffee price will affect the demand for p well again we assume that the the uh you know it depends on your you know like uh uh combinations if there's an increase in coffee price of course you're going to spend uh you're going to consume less coffee and the BN the demand for for BN I think is still uh uh uh the same so there's no change change there's no change in the BN demand and the other way around if the BN price is going up or it's going down I think the demand for coffee will be the same as well again uh the combination that might be different uh aiz uh Abdul aiz yeah here ask me how if you try to consume more than two goods good to get yeah like I said to you before it might be not like a two Dimension curve upis uh so as this it might be have like let's say we have a three Goods that we are trying to uh analyze so it will be like uh three different axis right so there's like a y axis x axis and then probably Z axis Z axis so they will be like a three dimensions of uh curve analysis so so that's why you know like for the sake of you know simplification to make it simpler you know like uh we assume that we only have uh two goods to make it easier to explain about the concept so I hope that I answered your uh you know like uh uh questions okay so back to the um you know like uh uh utility and happiness I mentioned that you know like uh if you maximize your utility you might be happy and then if you think that you know like uh uh uh you uh have a less utility so you might be sad and then of course there will be like some uh examples uh because um later on we are going to assume whether the goods is a normal Goods or uh inferior Goods or maybe a given good so basically this is the things that we are going to discuss later on uh you know like uh in order to give a a different perspective on how to analyze uh uh the situation and and the things that you also have to consider here basically you know like uh we assume that you know like uh uh there there are some assumptions that you have to consider in order to understand about the consumer preferences to understand about the utility and the happiness number one of course talking about the completeness so we going to rank the bundles of good so this is like the more is the merrier uh uh so if you things that you know like um if you have like a higher budget or higher utility higher budget it might be give you like an higher utility so that's why it could shift like a uh you can shift the uh the the budget line to the right and then if we think that you know like um and and people going to say uh you know like um in this case if you have no uh uh uh uh you know like if you thinks that is not a big deal whether I consume less or more certain of goods sometime we call we call as the situation as the in indifferent situation so later on uh I'm going to show it to you uh about the IND differenter curve so basically this is the curve to show the combination at a specific budget that you have so basically this is the things that you also have to understand um um so the completeness number two basically is a transitivity letter on I will showing to you that you know like uh of course everything is supposed to be rational we have to also use the logic in order to understand the custumer preferences well of course there are several uh Goods that might be not rational and not logic uh uh to uh explain for example let's say the reason why people like to buy an expensive bag even though we know that the utility or the usage is the same uh and then probably you're going to say why PE people prefer to buy like a luxury watch even though we know that the function of the watch is the same to know the time so of course you know like later on we are going to discuss about which U uh Goods that can be categorized as the luxury goods or non-luxury Goods which Goods that can be categorized as an if inferior good or as a a normal Goods so transitivity basically is supposed to be based on the rationality Assumption um for example if x is preferable than y and then y preferable than Z so of course uh X is supposed to be preferable than Z right suppose not true so X is preferable by Y and Y is preferable by Z but Z is PR by X so basically this is not rational right so basically it's a transitivity supposed to be you know like uh you should have like a a consistent degree yeah you can see that X is preferable than y and then Y is preferable than Z and then you know like then of course X is pref than Z because the degree of X is higher than Y and Z Okay so there a transitivity uh uh you know explanation and then uh uh the other assumption is the non satiation or more is better I think this is the things that I I have to you know like explain that you know like the more is better so it's mean that you know like if you buy more buns or coffee it's mean that your utility will be higher your happiness will be higher but again it depends on your you you know like a budget that you have so it depends on the way how you utilize your budget so of course there are several justification here assume that there's a free disposals and know like consumer will never really choose to buy something that makes them worse off so basically things that you know like uh you have to consider about the uh you know like a non creation um okay and how about representing the indifferent curve like I told you before the indifferent curve basically is some things that to show the combinations of goods you know like in a specific budget line so it will be easier for me to show it to you the example so it make it easier for you to understand about the you know like the IND different curve by definition you can see basically this is the set of all the consumption bundles that give the same level of satisfaction to the consumers uh and then later on you know like uh we also have to make sure that you know like you have to understand about the marginal rate of substitution basically is a quite similar with the marginal rate of transformation you know like uh and then basically this is the way how we have to sacrifice of a certain Goods to gain or to get more specific Goods again talking about this you know like two combination of goods um and one more assumption basically here that the typical iner curve is conx uh so I assume that you know like it could you know like uh showing you that there will be like a a low of the diminishing of the Marin rate of substitution okay so this is the points that I think I already uh uh explained before the more of effect or the less uh willing to give up on why so basically this the uh you know like the idea of the you know like how to sacrifice one good in order to get another Goods um I'm trying to you know like respond to Abdul Kad sadik questions how does the mo is better principal account for theing marginality so yeah so this is the things um this is things that I'm going to explain uh sadik before you know like uh of course in the context of normal Goods the more is better principle I think it's still very relevant but of course at the end you know like U if you consume more and more and at the same time that you already let's say that you your tum is already getting full it's mean that if you you know like U for example you know like you eating one bread it it's will be more enjoyable to bread it's it's good but if you're eating more and more bread satisfaction will be lower and lower because why because your tum is getting full and then you not really enjoying eating bread anymore okay um yeah and then your point your second Point uh I think it's also very relevant why because later on I'm going to explain the difference between the normal Goods U and the um in VAR Goods usually people going to reduce the consumption of the inferior good if they are getting richer and richer for example if you are getting richer and then you really concerned about a healthy food you're going to spend less on the junk food you don't want to buy a KFC or McDonald's anymore you prefer to buy like a very you know like fresh vegetables from from the you know like from the market or even from the you know like from the traditional Market and or you are willing to buy like a you know like a organic foods you know like uh the foods that have no contain contaminations of pesticide or any other you know like a chemical things so there the things that you may uh uh doing if you're getting more and more richer uh so again there the things that I want to respond to you uh sadik and then of course later on I'm going to show it to you the difference between uh the inferior good and the normal Goods but before going to that points of course you know like uh you also have to uh you know like you also have to know there's like a special cases for the uh uh you know like a consumer uh preferences or consumer behavior number one is a perfect substitutes of course you know like a perfect substitutes is something that you know like of course if you let's say if you buy 5 kilos of java rice from kour or from Hypermart it doesn't matter it is rice if you buy a rice from the you know like from the alpha M or Ino M basically it's a totally it is price because it is a perfect substitutes okay and then for the perfect compliments for example we are talking about the you know like a left sock and the right sock or left sh and right sh or let's say that you have a perfect complement between one cup of coffee with a two spoon of sugar so there's also like a special cases when we are talking about the consumer preferences so Bic this is one of the examples you know like uh in order to show uh the uh you know like U uh the the Indi curve so basically the Indi curve is kind of like a confex to origin so it's not like a straight line like a budget line so basically Instead This is a like a conx to origin curve so the conx one yeah and you can see that you know like uh assume that we have a still two bundles uh we have a two goods here quantity of buns and quantity of coffee and you can see that there's like a point a when you uh consume 12 months and consume two coffee and you have a point B when you consume three buns and 10 coffee and then you have Point D that you have a assuming that you have a 10 buns and eight coffee for example my question is which which point that can give you a higher satisfaction anyone can guess from point A B and D which one that give you more satisfaction or you can you can write them with with the chat box or you can uh speak up yourself okay so okay D yeah thank you yes yeah the more is the more is better uh so in this case it's true uh it's a t uh you all is right to answer the question but my question my next question which which which combination between A and B that give you more satisfaction between a point A and B which one that can give you more satisfaction okay still no answer a a more satisfaction really fza sadik said that consumer is indifferent in this case okay any other any other Insight besides filza and sadik for me is B salmon said B Thea said that maybe both are same okay so guys um I I forgot to tell you you know like uh back to the definition again you you know like U indifferent curve basically it's the curve that's showing the bundles of goods that you consume that consumer at the end have the same satisfaction you know like even though you are in the A on B it seems that oh a is higher than b but basically if you still in the one iner curve you're going to have the same satisfaction okay so it will be different if you have more you have a higher in different curve or even later on probably you have like a lower in different C so you may uh uh you may uh explain that you know like if you have a higher IND different curve of course you're going you're going to get a you get you going to get a higher satisfaction but if you have have a lower in different FR curve so you have a lower satisfaction so I can say that from the response thank you sadik uh um you know like uh Denisha uh uh you said that consumer is in different in this case so A and B will be the same whether you consume more coffee than bun than coffee and three buns or you consume only two coffee and 12 bun it will give you the same satisfaction okay so this is the things that you also have to you know like U consider in order to you know like uh uh understand about the in differenter Cur I hope that you guys got the points here uh talking about the indifferent curve yeah okay now uh I think I will just skip this it's only like another explanation about that and then basically when we are talking about the utility function uh you can uh make a square roots of the two goods that you are dealing with in this case that you are dealing with the FN and coffee so let's say if the combination is uh one and two so you can get the utility is square two if you have like two bun and two coffee you have the uity is two but if you have more bun coffee you have more utility as well so more is better okay and of course at the end you know like there will be like a low of the diminishing marginal diminishing marginal uh uh utility okay so as you can see here you know like um if you're trying to see the marginal utility and the margin of rate of substitution you may see that you know like the utility uh if you consume more and more Bond the uity is going and higher but the change in units the marginal utility will be getting lower and lower so that's why we call it as a diminishing marginal utility function in total the utility is getting higher and higher but uh in the context of marginal utility the value is not same I mean like it's getting lower and lower so this is the concept of the diminishing marginal uh utility and then well this is another you know like explanation of the mathematical terms that you may uh consume that you may uh um you know like discuss later on and you can learn um you know like talking about the indiferent curve and the function of course you know like higher satisfaction ction it's mean that you're going to have a higher utility and the other way around if you have a lower utility you have a lower satisfaction so basically this only like some you know like another justification in order to discuss about the Indi curve and the utility um beyond that I want to show it to you between a normal inv varer and the given Goods so this is the example you know like uh we have a examples of assuming that we are still dealing with the B and coffee yeah okay okay just wait for a second okay e e e e e e because I have to discuss on a very uh special issues on the upcoming you know like uh well of course the new uh house of parliament member and then uh the projection the economic projections what's going on under uh the new presidency tro and Gibran because they have like an aspiration to uh reach the target of 8% right so again anyway this is very but I cannot share you uh um um uh inside or I cannot share you the points but of course you know like we still observe what will happen you know like at least the 100 uh days after the uh uh uh the prob give R uh uh government anyway I can just continue with the you know like uh with the uh difference between the goods uh the normal uh Goods infer goods and also the given good for the uh for the first pictures here as you can see that you know like we are still using the bun and coffee uh the bun and coffee and then we assume that both are a normal good so it means that you know like if you you have a higher earnings if you have a higher salary so it's mean that you're going to spend more fun and coffee as you can see that the shifting of the IND curve is uh quite linear you know like uh it's kind of like an upward to the right uh for the second you know like a pictures here well uh you can see that there is like some uh uh uniqueness that you can see from the pictures before it's uh we assume that both pan and coffee are normal good so it's me that when you have a higher earning or higher salary you're going to uh increase your you know like uh consumption of pot and coffee but in this case for the second uh pictures here when we assume that one is the normal goods and the coffee is the inferior Goods while assuming that you know like uh there's an inferiority of the uh consumptions of coffee well let's say that if you have a higher earnings higher salary uh uh you may uh uh things about a good health and then trying to you know like a uh what like a consum less caffeine so and then you're going to you know like uh uh uh you know like live healthier and as you can see that you know like uh the the shifting of the indifferent curve is not like a linearly upward but it's instead it seems that it's showing like uh it's still increasing but you can see that the consumption of coffee tend to be lower than the first in different curve meanwhile the quantity of bond is still higher than before so basically here we assume that coffee or C is inferior and the other way around if you thinks that one is inferior and the coffee is a normal Goods uh you can see from the thir pictures here if you have a higher salary if you have a higher earnings you're going to uh consume less bu okay but you're going to increase the coffee like a consumption of coffee so this is the things that you know like you have to you know like know or you have to understand but at the end you know like you may also meure the income elasticity of demon the question is can all Goods be inerior um well depends okay okay I think some of them some of them maybe have okay good some people already you know like a answer the question so ananta said that no filza said that not all Goods can be inv VAR to be label as in a fair good it depends on the income of the consumer it's true and because of the fation of the what uh strata value of goods will keep changing yeah of course it will be it depends and it's quite quite Dynamics but in this case you know like um it's a it's a very um you know like uh complicated if you assume that B and C is in variant so how we going to put our IND different curve right whether it is in the you know like in the right hand side right below or left upper or where because we only can assume only one Goods it it very so probably it will be more complicated but of course you know like U it depends on the situation I'm not saying that uh it it is it is impossible or it is possible but I can say that it also depends on the situation and uh the the whether it is a changing of preference or taste uh uh happens in the individual or in the person um so now I'm going to you know like explain to you about the given Goods I don't know whether you have heard about the terms given uh Goods or no but I can say that given Goods is a bit you know like a unique uh well we assume that you know like it happens when there is a extraordinary situation happens in the the economy so before we go to the given Goods uh of course you know like um uh you may what you may uh uh understand about the two effects that you have to understand in order to uh uh know about the consumer preferences number one is a subtitution effect so basically you already know it could happen when the one of the goods uh the price of the goods fors and then of course it will uh requires less sacrifice of other Goods so it will be buy more and then there will be an income effect you know like uh let's say when the price Falls if you continue to purchase and bundle of goods you will not have the money left over this effect may be negative or positive so the idea here is so the question is I mean like if we have like a income effect so it's mean that there will be like a money left over so where the money goes so probably there the questions right so it might goost for saving it may goes for investment but again it depends on how you're going to you know like uh uh uh it depends on how you're trying to optimize your uh you know like a budget at the end because in this case I believe that it will be great if you could have some kind of like analysis that can be you know like uh can can assess whether the effect is a part of the subtitution effect or the effect is a part of the income effect so in the context of given Goods everyone um uh I think I will give you an example well during the covid-19 pandemic I still remember that you know like in the beginning of 2020 in February 2020 or even you know like in the first quarter of 2020 when the covid-19 viruses you know outbreak uh at the time you know the price of you know like a what the hand sanitizer you see remember and the price of the uh uh Mass you know like you know like a medic Mass it's rocketed you know like it's increased significantly so so in that case yeah F know that situation I know that and then we are so blessed that we are survived from uh that pandemic guys uh because I believe that some of you probably have a you know like a bad experience probably some of your relative some of your uh you know like a family uh pass away because of the pandemic I also uh have my uh Auntie you know like a pass away because of the covid-19 pandemic but again you know like if we uh you know like a flashback what happens at that on that day you know like well of course we are uh we are so thankful that we are still here we are still can communicate and enjoy the know like uh uh the complexions I mean like the uh the uh the uh we can still can um U feel the fresh air and uh deal with this kind of robust technology enjoying the football and so on and so forth so if we can flashback what happens on on on that year in 2020 you know like it's quite uh surprising that you know like the law of demon is not valid anymore the law of demand is not relevant anymore because the idea of the low of demand you know the price is going down so it's mean that you're are going to increase uh the demand uh uh of the quantity demanded but in that case even though the price of surgery mask or medic medical mask or the price of the head sentence is going up people still want to buy it so it's a violations of law of demand right so basically it's a part of the uh given Goods uh even you know like during the war situation for example you know like when the it is very hard to find uh food for example people willing to pay in any prices in order to buy food right so during the crisis during the war or during the famine situation so basically that's a part of the given G uh yeah uh ananta asked me is there any given Goods in the nor noral economic situation as we know that this given against the theory of supply and demands again you know like uh for me it depends on how we going to treat you know like uh the condition because sometime I don't know in the during this you know like uh uh technological disruptions you know like uh during this you know like people like to see like to update everything through the wheels or video Tik Tok uh access the information from the YouTube and so on and so forth I don't know can you feel that you know like let's say during the you know like uh uh the uh situation when uh for example um I said remember like during the pandemic people have a hobby right they have a hobby to buy plans and collect the plans you know like uh you know like so many plants that you buy and then you're trying to take care of it and then sometime it can give you like a higher the price is going up because of you know like because people really want to uh have a you know like a hobby to collect uh um um a specific uh type of plant or currently let's say that the beta fish in Indonesia we call it as Ian Chang the beta fish for example at the time you know like people like to wow uh everyone buy a beta fish and then the price it could be rise to million or even billion no like only because of the beta F they have like a specific characteristic like a good colors good body you know like so on and so for and then nowadays also you know like but now I think it's going down again the price and I still remember like a lowan like a lowan f or even China China is like can gab CH ofish that have like a very uh you know have like a motive good motive in their body you know like uh it also can give you like a sometime irrational uh uh uh you know like love of demon because usually again you know like uh they the well I can say the buzzer or people who like to update uh the they always make a uh give informations that uh if they have like a very specific characteristic they're going to have a special crisis so again it it's it's it's a it it happens you know like the viral food or place maybe but I think for the viral food or place I think they will they still can maintain the price not like uh beta fish or China Fish or even plan uh but again uh you know for more Fe of missing out yeah okay so that's also part of the situation set you know like a stock market yeah well the stock market is quite Dynamic Asis I don't know because I even cannot project uh the Dynamics of uh uh stock markets then it happens in cryptocurrency crypto I'm I'm I don't play crypto I I don't have a uh investment in cryptocurrency or Bitcoins or whatever but yeah if I uh have more literacy on that product probably you know I'm I prefer to buy a uh Bitcoins when the price is still very low but now I think the price of Bitcoin is you know like uh you know like it's amazing you know like um the price is going up so significantly but again you know like given good is something like uh um uh Goods that well sometime you know like I can say it's a irrational there's like a irrational or illogical thinkings behind uh behind that you know like yeah so that's my my opinion on the given Goods um even though I can say that it is extremely rare you know like but of course a given is examples of violation of the law of demand you know like people willing to buy uh well I still remember that you know like when there's like a love bird you guys know love bird right a love bird also some uh uh once quite viral because it depends on the colors of uh the FM of the L birds and then now the L bird is so cheap even you know you can buy uh the Lo bu only 50,000 or 100,000 before it could be a million right like we call it as like a Batman type of lofter like a blue or whatever like a what is that pastel whatever so many type of you know like Lo but now because people like to breed the Lo and it's easy to breed the Lo but because it's very easy you know you can just put together between the female and the male one of course you have to make sure that they not fight each other and then after that they can U you know like a probably can breathe you know like uh uh they can lay EGS and then after that you know like uh uh it come up the new Lo the baby Lo B so it's very easy though but anyway again uh back to uh the definition of the given Goods uh I believe that you know like uh yeah yeah it's true an yeah yeah the gem uh Stone it was quite viral as well before like call as a k or whatever there are so many type of uh Stone yeah so anyway uh to uh simplify understanding of the difference between the normal Goods the inferi goods so it can say say that if the good is a normal Goods then you would also buy more for in some reason so if you have a more income you're going to buy more Goods there but if you have a less income you're going to have less uh good there and the second point if you have a uh if the good is an inferior good so you would buy less for income reason this iner Goods your auto demand will of course you know like the stop should EV back will be higher than the income effect um so that's the you know like a uh um that's the uh obvious explanation about uh this uh inar and the normal Po and then if you know like the demand decrease if the income effect is higher than S effect so we call it as the given Goods so there is no substitution at all like I mentioned you know we cannot substitute the hand sanitizer with water you cannot substitute the you know like uh the medical mask with the uh the you know like with your clothes you know like or bav I don't know what is the name in order to put you know like before you put the helmet sometime you use like something to cover your your uh your uh head your face something like that uh so yeah so the demon will increase usually for the inferior good the demand will increase if the sttion effect is higher than the income effect but in this case for the given good the demand uh at the end uh increase you know like if the income effect is higher than such effect or the other way around it will increase if the you know like uh uh sub effect is higher than the inter so I mean you know like U usually uh from the first week session I can say that you know like uh you may facing the situation when you may to buy uh certain Goods in any prices let's say that if you rice eat them you know like you cannot eat without rice so you may buy rise with any prices so it's kind of like a there's like a inelastic uh uh uh situations there in in the context of elasticity but if you think that you have more substitution if you cannot if if the price of rice is higher and then you prefer to consume a potato as a substitutions of rice so of course you know it's also part of the you know like a uh um you know like a substitution like a it it means that they have like a more elastic elasticity okay so there's a you know like explanation in order to know the uh differences between the elastic situation and in in elastic situations um yeah so yeah of course you know like uh you know like a it's a it's only like a some other explanation in order to differentiate between normal Goods in Fair and give good uh but the thing is you know like uh we assume that most of the goods are normal and then the consumer preferences it could make the normal Goods to become inar and also the other way around but again it's it depends on the test and it depends on your preferences um I will give you another examples even though here basically we are not trying to explain about the FN and coffee we may also use the labor Supply in order to you know like uh explain about this kind of utility and happiness of course you know like if you are in the labor market like me nowadays it means that I have to sacrifice my Lal time right so I can watch the Netflix I can go out to have a coffee or to visit a shopping mall instead of you know like uh doing a lectures here or doing like a work so basically this is kind of like a sometime uh it depends on you know if you have more ler time so it's mean that it depends on your income so so you can see that you know there's a threat of between Leisure and income but nowadays I think it's not 100% valid anymore why because now we can do I would work uh anyway I mean like there's so many you know like uh uh uh activities or job or uh works that not required to come to the office you know like you may uh work in Bali or in La one bajo but you still ear someone for example you design on design uh you are a designer a fashion designer or whatever but at the end you know like but for to generalize assuming that working is always uh you know like dealing with the how many times you spend at the office so here basically the Trap the threat off is still there you know like between the Leisure and income so if you have more Leisure so you may sacrifice your income but if you have more income you're going to sacrifice your ler so basically this a part of the uh threat off that you may uh that you may uh experience and of course another explanation here there's uh some others application um you know like uh um how do increasing marginal tax affect budget craint and optimal hours to work so people usually you know like like a paying taxes and earnings so of course you know like as a good citizen you have to pay taxes right but again if you have an option people people prefer not to or person prefer not to pay the taxes because it also part of the expenses that they have to do right so but again as a good citizen you also have to uh sacrifice part of your money to be taxed and then we assume that the tax is going to be used for development you know I have to develop the country and uh so and and many uh other examples that you may also you know like uh um find in the literature I will stop there for a while uh perhaps you know like we still have time um uh to discuss many things so I'm going to you know like uh limit myself uh because I I'm the person who prefer not to you know like uh uh uh spend too much time in the in the class uh or well assuming that we are in the zoom classrooms but I prefer to have like a two-way discussion or even I'm happy to respond if you send me an email to ask anything you know like uh regarding uh the things that you may want to uh figure out and for your information I already open the Dropbox just in case you want to submit your uh first assignment well not assignment first practice questions uh so you can just put it and please make sure that you only uh uh submit one um one documents per students you know each student so I don't have to you know like uh so if you need to merch your page uh so just find uh apps that can uh merch the apps uh mer merch the page okay so yeah uh I will stop there for a while then uh please if you have any questions and I saw that harani now you know like U flying somewhere you know like because I think arani going uh you know like somewhere with the with with the eyelines I don't know which eyelines that you are using there anyway so fle raise your hands please fle if you have any question F sorry I still curious but the utility yeah can we find out the factors make someone feel satisfied uh as we know that satisfication or utility can be different for each person for example uh just in the previous week uh they giving some of our wealth in Islam to others can bring special kind of happiness or utility are there any specific ways to measure the person satisfication or the person utility thank thank you P yeah thank you f for the questions and well you may ask this to others uh uh lecturers perhaps you know if you want to uh dig deeper the Islamic economics probably you can discuss with Ori Ori but the thing is you know like uh I do agree because I believe that my satisfaction level might be different with your satisfaction level I'm happy now if I uh you know like um um um on the TV and then spend my day on the couch and then watching my doubters playing around so that's my satisfaction level there my high satisfaction level I can say but in your case f probably you will be say that you know he mentions about the charity that you make is also part of this it could be part of the satisfaction right I mean like I don't know if if if you think that giving something as a part of the charity like the let's say I don't know what is Engish like giving like a yeah giving money to the uh to the persons that really needed you know like uh especially in the cont of funding you know like nowadays I think it's very uh uh uh uh very uh you know like a popular of doing like a crowdfunding if something happens to persons or the family let's say that the person is not feeling well and then you know like we want to help even though it's only very small part of money but You Feel So Satisfied that so in order to measure that of course it's a bit uh well of course there will be like a well the utility uh I think you already show it that the utility of how to measure the is like a square root of uh the combinations of uh uh uh activity that you uh you are doing right so in that case you know like uh for examples in order to measure the utility like Square from the uh consuming uh uh coffee but it can be modified probably like how many rup or how many dollars that you spend for charity and how many rup that you spend for let's say uh giving the money to your parents and how many dollars uh rup that you spend for your uh your what your uh uh Leisure Time so yeah again it depends I mean like I canot say that you know like uh it is impossible to measure the satisfaction rate but of course you know like I do agree that the satisfaction rate or satisfaction level of the individual is a different so there is a uniqueness of the satisfaction so there my points to answer your question for I hope it answer your questions thank you okay now I will move to Salon please Salon thank you Pap for the opportunity so I'm still have some question regarding the indifferent curve so you saying that whatever positions A or B will have the same satisfactions so is it something like uh mathematical modeling or is there any you know basic theory that can support this IND curve thank you Pap yeah well thank you um I mean like thank you uh for the you know like for the uh questions and the comments yeah well I don't know uh probably you know like some of you uh haven't had a chance to you know like uh learn about the IND but by definitions of course you know different it's you know kind of like so whatever the combination is so I'm indifferent so I'm okay with and we assume that stat statistic statisfaction level is the same so if you thinks that you know like it's a bit confusing for me to understand that A and B will give you a satisfaction so of course it's is based on the theory and it's based on the definitions that the different curves basically is the curve that's showing you uh the combination of two activities or two goods that you consume that you do and it give you the same satisfaction so basically that's the idea of the different so what you know like um the next question is probably you know like so how come it can be um you know like IND difference so at the end in order to make sure that it is an optimal situation of course that combination is supposed to be uh you know like supported by the budget line the budget constraint so of course you have like a a and b but if you have like a budget line okay so which uh intersection can be made it is with a or with B so the the the optimum and the feasible uh feasible combination that you can do is something that have an intersection with the budget line so basically that's the the main idea uh but uh you know like if let's say that we assume that okay assuming that we don't have any issues or we don't have any limitation with the budget uh constraint so as long as you know like um the combination is a uh you know like it's along the curve so basically it doesn't matter you know like you may uh uh you may consume more um you know like uh uh uh products a then b or you may um consume more products B than a or even you have the same quantity between products A and B at at then you know like you're going to have the same same satisfaction so that's the things that I can explain to you uh s so perhaps I suggest you to probably just Ed it again uh I mean like uh I know probably my explanation is not really you know like U answering your uh curiosity answering your uh uh uh uh questions but that's the things that you know probably I'm going to uh you know like that I can uh share to you so again you know like uh of course at the end uh with that kind of combination in different curve at the end it depends on uh the budget line the budget uh that you have so that's my my respon okay um now I'm going to move to Pilot uh pilot harani please okay thank you is it clear my voice yeah very clear okay uh actually I want to ask about um is it possible for us to find um the consumer behavior and choice that influenc by such as uh an uncomforable things maybe such as belief uh like that and yeah uh could it apply to any service thing sir uh this issue thank you thank you so well my my my uh straight comments uh my response to you basically of course this combination it could be in the in the form of goods and services and then probably um you know like uh the things that I can say that it could be in the forms of tangible goods or intangible so tangible like something that you can touch you can feel it can in and of course it's also can be part of the intangible good that that cannot be seen like for example you you like uh before fil mentioned about you know like charity giving money to the poor for example we cannot feel it right we can't touch it right but we can just feel it in the air like oh well someone here yeah said that utility first baraa yeah I mean like a get a bless you know like so that kind of blessing is part of the intend uh uh uh Goods right you know like you cannot feel but you feel like oh I'm sorry I'm only give that poor uh with some money that I have at least I can say it is a very sincere action that I can do E Class know in that case so of course it also can be part of the you know like uh uh soorry to answer your question uh yeah you can um uh use any kind of goods or services even though it is a tangible things or intangible so that's my response to you uh um so yeah I it is clear okay um uh before I move to un Ananda asked me how to implement soci Behavior Theory into a general economic cycle because measuring the utility sometimes you have the yeah yeah again it's a very unique so that why you know like we cannot so it's kind of like probably you have uh heard about One sizes not fit all so basically we're not trying to make you know like a uh we cannot generalize everything so like I said that uh uh you know like satisfaction probably it will be different with Salon satisfaction with unit satisfaction with high satisfaction so basically you know like uh uh you can implement this consumer Behavior Theory but of course you know like you might find a uniqueness and U I can say uh a different uh treatment from one individual to another individual because again taste and preferences of the individual will be VAR you you know like uham so it will be so uh there's a various uh uh taste and you know like preferences uh I will move to uness I hope this is the last uh question that I might uh take so please uness uh please uh unmute your microphone okay sir thank you thank you for you answering all the questions and thank you for uh friends for asking everything related to this uh lesson but for me actually it is about the instruction for for for writing the the assignment it should be writing or typing okay thank you un it's up to you you can draw it as well if you want to draw so I don't I don't uh have any uh preferences so as long as you submit your U you know like assignment so I'm I'm so my happiness will be higher so that's my my respon to you un so it's up to you you want to type it in the computer in laptop or you want to hand writing it doesn't matter so my concern is please make sure that you subit only one documents each student okay so I don't um uh uh get confusion uh when checking the work from your side so that's my respond uness thank you sir for appreciating our like uh uh differen and and and and utility or preferences thank you sir yeah so and then Salim and KU asked me about the deadline I told you that you know like um the deadline probably I will give you like a uh more deadline until next week because I forgot uh to you know like uh uh upload uh the uh syllabus and also so uh the materials so of course you know like at the end um you know like uh please check the ulms thank you sad so please open your you know like a modles or your learning management system LMS to check the update because I usually you know like sharing the materials uh uh two days or 3 days before uh the session so you you have time to you know like to read the matterial first before you go to the session so we couldn't not see the link Dropbox in your yeah basically there is no link it's only like uh uh if you go to the week one session the demand and Supply uh you can click the Dropbox I will double check again you can check the Dropbox and you can upload uh your words there uh so if those uh uh or for the PD me not so sure I think it's supposed to be as long as you have an access to microeconomics uh subject uh I believe that you can access the urms so please make sure to The Faculty uh staff uh sister Salma or you know like uh or who else yes it's a s yeah you can ask I already send assignment through email I know Savia but is it possible for you to submit it again in the Dropbox um I'm going to uh um uh so you just open the ums go to the microeconomics subject and then in the week one session in the demand and Supply you can find the Dropbox I forgot whether I put the name of Dropbox or not I think can just click it and then you can upload the uh your works there so I think that's my my resp respond to you is it clear yeah okay so if you don't have further questions uh I will stop here thank you very much for your uh understanding uh and for your attention all the best uh if you have any questions or any things that you want to uh discuss please please feel free to send me you know so it's very easy to uh reach me so you can just also click something on the ulms and then you can just type anything and then uh you know like ask me everything's there so thank you everyone all the best have a good day thank you and thank you everyone thank you