Topics
Micro Economics
Introduction to Micro and Macro Economics
Utility Analysis
- Utility
- 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
Macro Economics
Demand Analysis
Elasticity of Demand
Supply Analysis
Forms of Market
Index Numbers
National Income
- 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
Consumers Behavior
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
National Income
Determinants of Aggregates
Money
Commercial Bank
Central Bank
Public Economics
- 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
notes
B) Revenue Concepts :
The term ‘revenue’ refers to the receipts obtained by a firm from the sale of certain quantities of a commodity at given price in the market. The concept of revenue relates to total revenue, average revenue and marginal revenue.
1) Total Revenue (TR) :
Total revenue is the total sales proceeds of a firm by selling a commodity at a given price. It is the total income of a firm. Total revenue is calculated as follows :
Total revenue = Price × Quantity
For example, if a firm sells 15 units of a commodity at ₹200 per unit TR is calculated as :
TR = P × Q
= ₹200 × 15
= ₹3000
2) Average Revenue (AR) :
Average revenue is the revenue per unit of output sold. It is obtained by dividing the total revenue by the number of units sold.
`"AR"="TR"/"TQ"`
AR = Average Revenue
TR= Total Revenue
TQ =Total Quantity
For example, if the total revenue of 15 units, is ₹3000, then average revenue is calculated as :
`"AR"="TR"/"TQ"`
`=3000/15`
=₹200
3) Marginal Revenue :
Marginal revenue is the net addition made to total revenue by selling an extra unit of the commodity.
MRn = TRn – TRn-1
MRn = Marginal revenue of nth unit
TRn = Total revenue of nth unit
TRn-1 = Total Revenue of previous units
n = Number of units sold
For example, if the previous total revenue from the sale of 20 tables is ₹4000 and that from the sale of 21 tables is ₹4200, marginal revenue is calculated as :
MRn = TRn – TRn-1
=4200-4000
= ₹200 per table
