Topics
Micro Economics
Introduction to Micro and Macro Economics
- Branches of Economics
- Father of Econometrics: Ragnar Frisch
- Microeconomics
- Macroeconomics
- Micro Economics VS Macro Economics
Introduction to Micro Economics
- Analysis of Market Structure
- Microeconomics
- 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
- Welfare Economics
- Micro Economics - Useful to Government
- Assumption of Micro Economic Analysis
Consumers Behavior
Analysis of Demand and Elasticity of Demand
Analysis of Supply
Types of Market and Price Determination Under Perfect Competition
Factors of Production
- Factors of Production - Feature of Capital
- Factors of Production
Macro Economics
Utility Analysis
- Basic Concepts of Microeconomics > Utility
- Commodities and Their Specific Utility for Individuals
- Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Paradox of Value
- Relationship Between Marginal Utility and Price
- Indifference Curve Analysis by Hicks and Allen
Introduction to Macro Economics
- Macroeconomics
- Micro Economics VS Macro Economics
- Allocation of Resource and Economic Variable
National Income
Determinants of Aggregates
- Total Demand for Good and Services
- Concept of Aggregate Demand and Aggregate Supply
- Consumption
- Investment Demand
- Government Demand
- Foreign Demand
- Difference Betweeen Export and Import
- Effect of Population of Consumption Expediture
- Types of Investment Expenditure
- Micro Eco-Equilibrium
Money
- Concept of Money
- Functions of Money
- Standard of Deferred Payment
- Standard of Transfer Payment
- Money - Store of Value
- Barter system
- Monetary Payments
- Concept of Good Money
Commercial Bank
Central Bank
- Central Bank
- Central Bank Function - Banker's Bank
- Central Bank as a Controller of Credit
- Monetary Function of Central Bank
- Non Monetary Function of Central Bank
- Methods of Credit Control
- Repo Rate and Reverse Repo Rate
- Central Bank Function - Goverment Bank
Public Economics
- Introduction of Public Economics
- Features of Public Economics
- 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 (Structure) of the Government Budget
- Factor Influencing Government Budget
Demand Analysis
- Concept of Demand
- Demand Schedule
- Individual Demand Schedule
- Market Demand Schedule
- Demand Curve
- Individual Demand Curve
- Market Demand Curve
- Reasons for the Downward Slope of the Demand Curve
- Types of Demand
- Determinants of Demand
- Law of Demand
- Exceptions to the Law of Demand
- Variations in Demand
- Changes in Demand
Elasticity of Demand
- Concept of Elasticity of Demand
- Types of Elasticity of Demand > Income Elasticity
- Types of Elasticity of Demand > Cross Elasticity
- Types of Elasticity of Demand > Price Elasticity
- Perfectly Elastic Demand
- Perfectly Inelastic Demand
- Unitary Elastic Demand
- Relatively Elastic Demand
- Relatively Inelastic Demand
- Methods of Measuring Price Elasticity of Demand
- Linear Demand Curve
- Non-Linear Demand Curve
- Factors Influencing the Elasticity of Demand
- Importance of Elasticity of Demand
- Determinants of Price Elasticity of Demand
Supply Analysis
- Concept of Supply
- Concept of Total Output
- Concept of Stock
- Distinguish between Stock and Supply
- Supply Schedule
- Individual Supply Schedule
- Market Supply Schedule
- Determinants of Supply
- Law of Supply
- Variations in Supply
- Changes in Supply
- Cost Concepts > Total Costs
- Cost Concepts > Average Cost
- Cost Concepts > Marginal Cost
- Revenue Concepts
- Total Revenue
- Average Revenue
- Marginal Revenue
Forms of Market
- Concept of Market
- Classification of Market > Based on Place
- Classification of Market > Based on Place
- Classification of Market > Based on Time
- Classification of Market > Based on Competition
- Perfect Competition
- Price Determination Under Perfect Competition
- Imperfect Competition
- Monopoly
- Concept of Monopsony
- Oligopoly
- Monopolistic Competition
Index Numbers
- Index Numbers
- Features of Index Numbers
- Types of Index Numbers
- Index Numbers Used by Government of India
- Significance of Index Numbers
- Rebasing of GDP, IIP, and WPI
- Construction of Index Numbers
- Methods of Constructing Index Numbers > Simple Index Number
- Price Index Number
- Quantity Index Number
- Value Index Number
- Methods of Constructing Index Numbers > Weighted Index Number
- Laaspeyre’s Price Index Number
- Paasche’s Price Index Number
- Concepts of Sensex and Nifty
- Crops in India's Agricultural and Industrial Production Index
- Limitations of Index Numbers
National Income
- Concept of National Income
- Features of National Income
- Circular Flow of National Income
- Two Sector Model of Circular Flow of National Income
- Three Sector Model of Circular Flow of National Income
- Four Sector Model of Circular Income
- Different Concepts of National Income
- Concept of Green GNP
- Methods of Measurement of National Income
- Output Method/Product Method
- Income Method
- Expenditure Method
- Concept of Mixed income
- Difficulties in the Measurement of National Income
- Importance of National Income Analysis
Public Finance in India
- Public Finance
- Difference Between Public Finance and Private Finance
- Structure of Public Finance > Public Expenditure
- Important Social Welfare Schemes by the Government
- Structure of Public Finance > Public Revenue
- Public Revenue > Taxes
- Types of Taxes
- Direct Tax
- Indirect Tax
- Public Revenue > Non-tax Revenue
- Structure of Public Finance > Public Debt
- Structure of Public Finance > Fiscal Policy
- Structure of Public Finance > Financial Administration
- GST(Economics)
- Government Budget
- Revenue and Capital Budgets
- Types of Budget
- Importance of Budget
Money Market and Capital Market in India
- Concept of Financial Market
- Money Market in India
- Structure of Money Market in India > Organized Sector
- 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)
- Structure of Money Market in India > Unorganized Sector
- Money Market Instruments
- Role of Money Market in India
- Problems of the Indian Money Market
- Reforms Introduced in the Money Market
- Recent Developments in Banking Sector
- Capital Market in India
- Structure of Capital Market in India
- Role of Capital Market in India
- Problems of the Capital Market
- Regional Stock Exchanges in India
- Reforms Introduced in the Capital Market
- Economic Policy in an Economy
Foreign Trade of India
- India’s Trade Relations Before 1947
- Internal Trade
- Foreign Trade of India
- Types of Foreign Trade
- Role of Foreign Trade
- India’s Recent Trade Relations with China and Japan
- Composition of India’s Foreign Trade
- India’s Foreign Trade Share in GNI
- Composition of India's Imports
- Composition of India's Exports
- Direction of India’s Foreign Trade
- Trends in India’s Foreign Trade since 2001
- Concept of Balance of Payments
- Balance of Trade
- Member Nations of OPEC and OECD
- Introduction
- Features
- Types of Supply
- Difference Between Stock and Supply
- Factors Affecting Supply
- Supply Schedule
- Supply Curve
- Distinction: Supply vs. Quantity Supplied
- Real-Life Application
- Key Points: Concept of Supply
CISCE: Class 12
Introduction
- Supply is the amount of a good or service that sellers are willing and able to offer for sale at different prices during a certain time (day, week, month).
- Always stated with both price and time.
Example: "At ₹10 lakhs, 200 cars will be supplied per day by the car dealer."
CISCE: Class 12
Features
- It is the desired quantity—what producers are willing to sell.
- Linked to price—changes in price mean changes in supply.
- Expressed as a flow variable (per day, week, or month).
CISCE: Class 12
Types of Supply
CISCE: Class 12
Difference Between Stock and Supply
| Aspect | Stock | Supply |
|---|---|---|
| What is it? | Total available quantity at a time | Amount offered for sale at a price over time |
| Time element | At a single point (static) | Over a period (dynamic) |
| Basis | Does not depend on supply | Depends on stock available |
| Example | All bread in a bakery | Bread offered to sell at today’s price |
| Purpose | Storage/Readiness | Actual selling in market |
CISCE: Class 12
Factors Affecting Supply
- Price of the Commodity: Higher price → Higher supply.
- Price of Related Goods: Producers may switch to costlier alternatives.
- Cost of Production: Higher costs usually decrease supply.
- Technology: Better tech can increase supply.
- Natural Factors: Good harvest/weather increases supply.
- Number of Sellers: More sellers = more supply.
- Transport & Communication: Better facilities aid supply.
- Goals of Firm: Different goals affect supply.
- Producer Agreements: Pools/collusions can restrict supply.
- Future Expectations: Sellers may hold back supply if prices are expected to rise.
CISCE: Class 12
Supply Schedule
Supply Schedule Example:
| Price (₹) | Quantity Firm A | Quantity Firm B | Market Supply |
|---|---|---|---|
| 10 | 50 | 100 | 150 |
| 20 | 100 | 200 | 300 |
CISCE: Class 12
Supply Curve
- Individual Supply Curve
The individual supply curve is a graphic presentation of the supply schedule of an individual firm in the market. Curve indicated the upward sloping. It shows a positive relationship between price of a commodity and quantity supplied.
- Market Supply Curve
The market supply curve is a graphic presentation of supply schedule of all firms producing a particular commodity in the market. It is supply curve of the industry as a whole. It can be derived by way of horizontal summation of supply curves of all the firms in the industry.
CISCE: Class 12
Distinction: Supply vs. Quantity Supplied
- Supply: A Whole set of quantities at different prices.
- Quantity Supplied: Amount offered at one specific price.
CISCE: Class 12
Real-Life Application
- A fruit vendor has 50 apples (stock). If apples are ₹20 each, the vendor is willing to sell 40 today (supply is 40).
- All bakers in a city together offering bread at today’s price = Market Supply.
Maharashtra State Board: Class 12
CISCE: Class 12
CISCE: Class 12
Key Points: Concept of Supply
- Supply is about "ready to sell", linked to both price and time.
- Supply ≤ Stock.
- Stock is what’s on hand; supply is what’s for sale.
