Introduction to Micro and Macro Economics
- Types of Utility
- Concepts of Utility
- Relationship Between Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Assumptions of Diminishing Marginal Utility
- Exceptions to the Law of Diminishing Marginal Utility
- Criticisms of the Diminishing Marginal Utility
- Significance of the Diminishing Marginal Utility
- Relationship Between Marginal Utility and Price
- Diminishing Marginal Utility
Elasticity of Demand
Forms of Market
- Concept of National Income
- Features of National Income
- Circular Flow of National Income
- Different Concepts of National Income
- Methods of Measurement of National Income
- Output Method/Product Method
- Income Method
- Expenditure Method
- Difficulties in the Measurement of National Income
- Importance of National Income Analysis
Public Finance in India
Money Market and Capital Market in India
- Financial Market
- Money Market in India
- Structure of Money Market in India
- Organized Sector
- Reserve Bank of India (RBI)
- Commercial Banks
- Co-operative Banks
- Development Financial Institutions (DFIs)
- Discount and Finance House of India (DFHI)
- Unorganized Sector
- Role of Money Market in India
- Problems of the Indian Money Market
- Reforms Introduced in the Money Market
- Capital Market in India
- Structure of Capital Market in India
- Role of Capital Market in India
- Problems of the Capital Market
- Reforms Introduced in the Capital Market
Foreign Trade of India
Introduction to Micro Economics
- Features of Micro Economics
- Analysis of Market Structure
- Importance of Micro Economics
- Micro Economics - Slicing Method
- Use of Marginalism Principle in Micro Economics
- Micro Economics - Price Theory
- Micro Economic - Price Determination
- Micro Economics - Working of a Free Market Economy
- Micro Economics - International Trade and Public Finance
- Basis of Welfare Economics
- Micro Economics - Useful to Government
- Assumption of Micro Economic Analysis
- Meaning of Micro and Macro Economics
Analysis of Demand and Elasticity of Demand
Analysis of Supply
Types of Market and Price Determination Under Perfect Competition
Factors of Production
Introduction to Macro Economics
Determinants of Aggregates
- Introduction of Public Economics
- Features of Public Economics
- Meaning of Government Budget
- Objectives of Government Budget
- Features of Government Budget
- Public Economics - Budget (1 Year)(1 April to 31 March)
- Types of Budget
- Taxable Income
- Budgetary Accounting in India
- Budgetary Accounting - Consolidated , Contingency and Public Fund
- Components of Budget
- Factor Influencing Government Budget
- On the basis of place
- On the basis of Time
- On the Basis of Competition
Classification of Market :
I) On the basis of place :
1) Local market :
Local market is a market in which sellers sell and customers buy a product in the region or area in which it is produced.
2) National market :
National market is a domestic market in a given country. Each national market is governed by the regulation of its own country.
3) International market :
International market is a worldwide market in which buyers and sellers trade in goods and services across the national borders.
II) On the basis of time :
1) Very short period :
Very short period is a period in which supply is fixed and price is determined by the demand. The time period is for a few days or weeks in which the supply of commodity cannot be increased.
2) Short period :
Short period is a period of less than one year. In this period, firms can only make adjustments in inputs like labour to increase the supply of goods and services.
3) Long period :
Long run is a period of time in which all factors of production and costs are variable. In the long run, firms are able to adjust all costs. It is for a few years, generally up to five years.
4) Very long period :
Very long period is a production time that is so long that all inputs are variable. It is of more than five years.
III) On the basis of Competition :
Competition among the sellers and buyers is the most important criteria for classification of markets in economics.
Perfect Competition, Imperfect Competition, Oligopoly, Monopolistic Competition are the types of Competitons.
Characteristics of long period market:
- All factors of production and costs are variable.
- Firms are able to adjust all costs.
- It is for a few years, generally up to five years.
- Supply of commodity cannot be increased.
The interaction of demand and supply to determine price of a commodity in perfect competition is ______.
Assertion (A): Monopolist is a price maker.
Reasoning (R): Monopolist can fix the price of his own product as he controls the whole market supply.
State with reason whether you agree or disagree with the following statement:
Selling cost is the only feature of monopolistic competition.