Central Problems of an Economy

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Topics

  • Indian Economy on the Eve of Independence
    • Introduction to Indian Economy on the Eve of Independence
    • Low Level of Economic Development Under the Colonial Rule
    • Agricultural Sector
    • Industrial Sector
    • Foreign Trade
    • Demographic Condition
    • Occupational Structure
    • Infrastructure
  • Introduction
    • Meaning of Micro and Macro Economics
    • What is an Economy?
    • Positive and Normative Economics
    • Central Problems of an Economy
    • Concepts of Production Possibility Frontier
    • Concept of Opportunity Cost
    • Understanding Economics - Adam Smith (Father of Economic)
    • Understanding Economics - Dr Alfred Marshall
    • Understanding Economics - Lord Robbins
    • Understanding Economics - Prof Samuelson
    • Types of Economic System - Capitalism
    • Types of Economic System -socialism
    • Efficient Utilization of Resource
    • A Simple Economy
    • The Centrally Planned Economy
    • The Market Economy
  • Introduction to Macroeconomics
    • Emergence of Macroeconomics
    • Context of the Present Book of Macroeconomics
  • Introductory Macroeconomics
  • Consumer Equilibrium and Demand
  • Indian Economy 1950-1990
    • Introduction to Indian Economy 1950-1990
    • Goals of Five Year Plans
    • Agriculture
    • Industry and Trade
    • Trade Policy: Import Substitution
  • Indian Economic Development
  • National Income and Related Aggregates
    • Concept of National Income
    • Basic Concepts - Consumption Goods
    • Basic Concepts - Capital Goods
    • Basic Concepts - Final Goods
    • Basic Concepts - Intermediate Goods
    • Meaning of Investment
    • Depreciation
    • Basic Concepts - Gross Investment
    • Basic Concepts - Net Investment
    • Basic Concepts - Stocks and Flows
    • Circular Flow of Income (Two Sector Model)
    • Methods of Calculating National Income - Value Added Or Product Method
    • Expenditure Method
    • Income Method
    • Aggregates Related to National Income - Gross National Product (GNP)
    • Aggregates Related to National Income - Net National Product (NNP)
    • Gross and Net Domestic Product (GDP and NDP)
    • GDP and Welfare
    • Aggregates related to National Income - Private Income
    • Aggregates Related to National Income - Personal Income
    • Aggregates Related to National Income - Personal Disposable Income
    • Aggregates Related to National Income - Domestic Income (NDP)
    • National Disposable Income (Gross and Net)
    • Aggregates Related to National Income - Gross Value Added and Net Value Added
    • Real and Nominal GDP
    • Macroeconomic Identities
    • Methods of Calculating National Income - Factor Cost, Basic Prices and Market Prices
  • Introductory Microeconomics
  • Producer Behaviour and Supply
    • Production Function
    • Production Function - Short-run
    • Production Function - Long-run
    • Concept of Production
    • Total Product
    • Average Product
    • Marginal Product
    • Relation Between Total, Average and Marginal Product
    • Law of Variable Proportions
    • Average and Marginal Physical Products
    • Returns to a Factor
    • Basic Concepts of Cost
    • Short Run Cost Curves
    • Cost - Fixed Cost
    • Cost -variable Cost
    • Cost - Total Cost
    • Cost - Total Fixed Cost
    • Cost - Total Variable Cost
    • Cost - Average Cost
    • Cost - Average Fixed Cost
    • Cost - Average Variable Cost
    • Cost - Marginal Cost
    • Relationship Between Average Variable Cost and Average Total Cost and Marginal Cost
    • Concept of Opportunity Cost
    • Total, Average and Marginal Revenue
    • Concept of Producer's Equilibrium
    • Concept of Supply - Supply Schedule and Supply Curve
    • Market Supply
    • Difference Between Stock and Supply
    • Determinants of Supply
    • Supply Curve and Schedule
    • Movements Along and Shifts in Supply Curve
    • Measurement of Price Elasticity of Supply - Percentage-change Method
    • Measurement of Price Elasticity of Supply - Geometric Method
    • Total, Average and Marginal Cost
    • The Law of Diminishing Marginal Product
    • Shapes of Product Curves
    • Costs - Long Run Costs
    • Returns to Scale
  • Money and Banking
    • Meaning of Money
    • Primary Function
    • Secondary Functions
    • Standard of Deferred Payment
    • Money - Store of Value
    • Money - Transfer of Value
    • Meaning of Supply of Money
    • Concept of Barter Exchange
    • Difficulties Involved in the Barter Exchange
    • Monetary Payments
    • Commercial Banks
    • Currency Held by the Public and Net Demand Deposits Held by Commercial Banks
    • Money Creation Or Credit Creation by the Commercial Banking System
    • Definition - Central Bank
    • Function of Central Bank - Bank of Issue
    • Central Bank Function - Goverment Bank
    • Central Bank Function - Banker's Bank
    • Central Bank Function - Controller of Credit
    • Control of Credit Through Bank Rate
    • Cash Reserve Ratio (CRR)
    • Statutory Liquidity Ratio (SLR)
    • Repo Rate and Reverse Repo Rate
    • Open Market Operations
    • Margin Requirement
    • Demand for Money
    • Policy Tools to Control Money Supply
    • Balance Sheet of a Fictional Bank
    • Limits to Credit Creation and Money Multiplier
  • Liberalisation, Privatisation and Globalisation : an Appraisal
    • Introduction to Liberalisation, Privatisation and Globalisation : an Appraisal
    • Liberalisation
    • Privatisation
    • Globalisation
    • Indian Economy During Reforms: an Assessment
  • Determination of Income and Employment
  • Poverty
    • Introduction to Poverty
    • Identification of Poor People
    • The Number of Poor in India
    • What Causes Poverty?
    • Policies and Programmes Towards Poverty Alleviation
    • Main Programmes for Poverty Alleviation - a Critical Assessment
  • Forms of Market and Price Determination
    • Market
    • Market Equilibrium
    • Determination of Market Equilibrium
    • Effects of Shifts in Demand and Supply
    • Features of Perfect Competition
    • Imperfect Competition
    • Forms of Market
    • Features of Oligopoly
    • Market Forms - Perfect Oligopoly
    • Market Forms - Imperfect Oligopoly
    • Equilibrium Price
    • Simple Applications of Demand and Supply
    • Price Ceiling
    • Price Floor
    • Revenue
    • Profit Maximisation
    • Determinants of a Firm’s Supply Curve
    • Market Supply Curve
    • Price Elasticity of Supply
  • Human Capital Formation in India
    • Introduction to Human Capital Formation in India
    • Sources of Human Capital
    • Human Capital and Human Development
    • State of Human Capital Formation in India
    • Growth of Education Sector in India
    • Future Prospects
  • Non - Competitive Markets
    • Simple Monopoly in the Commodity Market
    • Other Non - Perfectly Competitive Markets
  • Government Budget and the Economy
    • Meaning of Government Budget
    • Objectives of Government Budget
    • Components of Budget
    • Classification of Receipts
    • Classification of Expenditure
    • Types of Budget
    • Types of Budget - Deficit Budget
    • Measures of Government Deficit Or Surpluses
    • Direct and Indirect Tax
    • Government Budget - Allocation of Resources
    • Deficit Budget - Primary Deficit
    • Meaning of Disinvestment
  • Open Economy Macroeconomics
    • Concept of Balance of Payments Account
    • Measure to Control Disequilibrium
    • Balance of Payments Deficit Meaning
    • Systems of Exchange Rates
    • Concept of Foreign Exchange Rate
    • Determination of Exchange Rate in a Free Market
    • Devaluation of a Currency
    • Revaluation of a Currency
    • Balance of Trade
    • Current Account
    • Capital Account
    • Balance of Payments Surplus and Deficit
    • Foreign Exchange Rate
    • Determination of the Exchange Rate
    • Merits and Demerits of Flexible and Fixed Exchange Rate Systems
    • Managed Floating
  • Rural Development
    • Introduction to Rural Development
    • Credit and Marketing in Rural Areas
    • Agricultural Market System
    • Diversification into Productive Activities
    • Sustainable Development and Organic Farming
  • Employment: Growth, Informalisation and Other Issues
    • Introduction to Employment - Growth, Informalisation and Other Issues
    • Workers and Employment
    • Participation of People in Employment
    • Self-employed and Hired Workers
    • Employment in Firms, Factories and Offices
    • Growth and Changing Structure of Employment
    • Employment - Informalisation
    • Employment - Workforce
    • Unemployment
    • Government and Employment Generation
  • Infrastructure
    • Infrastructure
    • Relevance of Infrastructure
    • The State of Infrastructure in India
    • Energy
    • Health
  • Environment and Sustainable Development
    • Introduction to Environment and Sustainable Development
    • State of India’s Environment
    • Sustainable Development
    • Strategies for Sustainable Development
  • Comparative Development Experiences of India and Its Neighbours
    • Introduction to Comparative Development Experiences of India and Its Neighbours
    • Developmental Path - a Snapshot View
    • Demographic Indicators
    • Gross Domestic Product and Sectors
    • Indicators of Human Development
    • Development Strategies - an Appraisal
  • What is produced and in what quantities?
  • How are these goods produced?
  • For whom are these goods produced?
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