Abstract

At times when parliament has a subject matter of making law in relation to the behaviour change of people it gets tough to understand what they are really doing. In modern times with various products and a huge market gap people often get confused about what to do and what not and along with that comes the change in law. Despite governments’ various attempts to make the economic flow smooth, the sudden change in the demand and supply of the market either domestic or internationally leads to a chaotic situation be dealt with. The behaviour of the consumer is very dynamic, and law is majorly rigid until unless you have flexible judiciary to implement the written text into most efficient comprehension. This article deals with understanding of how behavioural economics effects the law-making authority decisions. At times people criticize the government for the union budget until they learn about no tax for individuals earning Rs.12 lakh per annum. Dynamic is a small word that highlights the consumer and for this never comprehending concept we have limited applications such as consumer law , contract law & other such law which deals with the law related to economics. Dealing with wider concept the paper specifically understands the law-making authority decisions on the changing behaviour of the citizen and showing the connection between both law and economics. This Article may lead to show case a balanced relation between law and economics.

Keywords