 वैज्ध सलिएत Fashion,😭 अपतिमा�派 धफाव पर्मकिन। वैजध आझोसबाटूendra विजध क чет कराथगि। बजअ़िमर बाद़नoused Power表 on on on on the outcome of differences ना�otte गुँउउउउउउउउउउउउउ If we called demand Backday As a result within its resources. So, today we will talk about its preferences. You know that in economics we use the concept of utility to show preferences. And, for this we have a very useful tool, the tool of Indifference Curve. We show the preferences of any individual through Indifference Curves. माएक्रोए्रामिख्सके, बाजी कोर्सेिज में आप विसकी डेटेल सपाट्रुके हैं के अःटिप्रन्स कर्व कै है, अःटिप्रन्स कर्व actuali, यए उन उन कुमबिनश्यच को शुक हरता है, जिस परुटिलेटी कोंस्च्ट्रन कैं ती हैं. यक यागा ड़ेटिये यागा ती? अच्ट़ागराम देखें, हम ने दो अ आपस तावाग बब़ी इस्टी करीगें. आपस औक यह दिखात नहीं उरड़़ी एक यह आपस उटी थी थी अजोग़े थी बारी ख़।. total utility remains constant. So, if you move along this ic1 all points on this ic1 for example, we have three points x, y and z. So, according to the definition of the indifference curve the total utility on all these three points x, y and z is same. And ic2 is another indifference curve. And similarly, on this ic2 all the different points will give the same utility. We will note two or three things regarding the indifference curve. The first thing is that indifference curves are negatively sloped. y negatively sloped If you compare points z and x, then on z current consumption is 63000 and future consumption is 39000. So, if you reduce current consumption when you move along z to x, then what will happen? Your current consumption is decreasing. So, to keep the total utility constant current consumption is decreasing and your current consumption is decreasing. So, to keep the total utility constant it is necessary to increase the future consumption. So, that is why these negatively sloped indifference curves are coming. And higher indifference curve, higher level of satisfaction. ic2 is to the right of ic1. So, ic2 from ic1 the higher level of satisfaction is seen. ic2 has all the points, for example w. This is the only point. These all the points of ic1, x, y and z, you can compare them. So, w is giving more utility than any point on ic1. Why is that? इसके रीजन्त आप अगरगे जी और ऐक हो देक हैं जी पर मैंने बता है कि करन्ड क्नडम्स्यन खेर्च ती टी शुक्ची टी खुएक। तर्छी आईन उत्वाईन तोवो याखश्तको ठारेत है आपक लोगा पुटी एक दिया से अंत्री म्रगले था तो इस दी तोनो को ज़ाएन कर रहें, तो इस टेट लाएन पर दब्लुपाईट रहें। तो क्या दब्लु क्या दब्लु is simply the, you can say the average, weighted average of X and Z. तोनो की एक अपरच है. दब्लुपर क्या वर है? कि वो वो अपनी कंडंदमशन को समुथ कर रहें. अपर करन्द जाडा है, फुछर काम है, और X पर इसके रिवर सूरते हालगेद, जबको दब्लुपर करन्द तोर फुछर दोनो 51,000 है. तो समुथिंग प्रन्चीपल हम इस पर भी बात कर चुकें, इन्दिविच्छल तुहें वो ये चाते है, कि उसंका लाइप पेट्रन वो समुथ हो, उनके इंकमस में तो फुलक्टूऊशन जाती रहती है, लेकन उन फुलक्टूऊशन को सेविंग के दरिये से वो कोशिष करते है, तो समुथ कंदम्षन को हमेश्या वो एकस्ट्रीम कंदम्षन से प्रेफर करेंगे, आज्स वाई व जे है, वो एक हाईर इंदिविच्छल करव पर है, अगर आप इसको अख्सर जी से कमपेर करेंगे, इन बातों को हम समराएस करेंगे, इन बातों को हम समराएस करेंगे, पहला पुण्ट इंदिविष्ट्रीम करव के बारे में क्या है, के इट्स लोग्स दाऊवर्ट from left to right, less consumption in one period requires more consumption in the other period so that the total utility is constant. Second, हम ने क्या देखा, के higher इंदिविष्ट्रीम कर, higher level of satisfaction. So, third is that indifference curves are bored towards the origin. They are convex to the origin. In the microeconomics course, you are diminishing the concept of marginal utility. They will be familiar. Because it is not a microeconomics course, it is a microeconomics course, that is why we are not going into detail. So, we are simply saying that these indifference curves are convex to the origin. So, now we have seen two things. One is that the budget constraints have been discussed about the available resources available to the consumer. And with the help of indifference curves, we have understood its utility preferences. We have shown it. So, the budget constraint, the red line, you have a budget constraint. I told you that this triangle is actually showing what is available to it. Which current and future consumption pairs can be afforded in the resources available to it. It cannot be out of this triangle. For example, point T, we have drawn three indifference curves. The highest point T is the utility which is available to it. So, the highest point T is if you compare it with any other D, E or B. But since it is outside of its budget space, this is unattainable for it. For it, B is attainable, E is attainable and D is attainable. But, who will choose that? B and E are on a lower indifference curve. B, D and E are on a total expenditure same. Because they are coming above the budget line on the same line. So, they are on a total expenditure same. But the total utility is more than B and E on D. So, D is on a higher indifference curve. B and E are on a lower indifference curve. So, where will its utility maximization be? In microeconomics, you know, where the indifference curve becomes the tangent of the budget line. So, this is the tangency point. This is D. So, D is the optimal level of consumption. What is D? According to D, current consumption is 45000. And future consumption is 49500. So, this is its current and future consumption. So, this is the pair which is given to the available resources. It provides maximum satisfaction level. It is the highest possible indifference curve. So, we are using numerical values. So, on this point, on D point, if you want to calculate its saving, if you recall, we said that its current income is 42000 in the last module. What is the consumption? 45000. So, how much will its saving be? Minus 3000. Okay. And future AF. We are using AF that in the future period, when it starts, it will have what assets, what wealth, it will have available. What will be available? Y plus A minus C, right? Y current income A, which was available to it, wealth, C is the consumption. We are putting these values. We are putting the value of Y is 42000. A's value was 18000. Condumption was 45000. So, these are the answers to this. These are the resources available to us in the current period. And we can carry this in the future period. But we will multiply these with 1.1. Because we will get an interest on these. So, if you do this calculation, you will get its answer. 16500. So, what will be the future consumption? First, these 16500, which you have brought from the previous period, these resources are with it. Plus, in the second period, it will do ARNB, it will provide some labour services. These are the value of YF. So, these are 49500. In the second period, there will be total available resources. And since we have assumed that its lifespan is on two-time periods, in the second period, all its resources will be spent. So, CF is 49500. So, in this way, you can see these numerical things. Thank you very much.