Frank Solutions for Economics [English] Class 12 ISC

Concepts covered in Microeconomics and Macroeconomics: Introduction are Branches of Economics, Macroeconomics, Microeconomics, Micro Economics VS Macro Economics.

Concepts covered in Demand and Law of Demand are Change in Demand – Shift in Demand Curve, Change in Quantity Demanded: Movement along the Demand Curve, Concept of Demand, Demand Curve, Demand Function, Demand Schedule, Determinants of Demand, Difference Between Contraction and Decrease in Demand, Difference Between Extension and Increase in Demand, Exceptions to the Law of Demand, Importance of the Law of Demand, Individual Demand Curve, Individual Demand Schedule, Law of Demand, Market Demand Curve, Market Demand Schedule, Movement along the Demand Curve and Shift of the Demand Curve, Paul A. Samuelson: Father of Modern Economics, Reasons for the Downward Slope of the Demand Curve, Role of Demand and Supply in Economics, Types of Demand.

Concepts covered in Theory of Consumer Behaviour: Marginal Utility and Indifference Curve Analysis are Alfred Marshall: Key Contributor to Economics, Approaches to Consumer Behaviour, Basic Concepts of Microeconomics > Utility, Cardinal Approach (Utility Analysis), Consumer's Equilibrium through Cardinal Utility Approach, Consumer's Equilibrium through Indifference Curve Approach, Importance and Limitations of law of Equi-Marginal Utility, Law of Diminishing Marginal Utility, Law of Equi-Marginal Utility, Ordinal Utility Analysis/Indifference Curve Analysis, Price Line or Budget Line, Properties of Indifference Curves, Relationship Between Marginal Rate of Substitution and Marginal Utility, Relationship Between Total Utility and Marginal Utility, Total Utility and Marginal Utility.

Concepts covered in Elasticity of Demand are Concept of Elasticity of Demand, Factors Affecting Price Elasticity of Demand, Importance of Elasticity of Demand, Methods of Measuring Price Elasticity of Demand, Numerical Problems of Price Elasticity of Demand, Types of Elasticity of Demand > Cross Elasticity, Types of Elasticity of Demand > Income Elasticity, Types of Elasticity of Demand > Price Elasticity.

Concepts covered in Supply - Law of Supply and Price Elasticity of Supply are Categories (Degrees) of Elasticity of Supply, Concept of Supply, Determinants of Supply, Law of Supply, Measurement of Elasticity of Supply, Movements Along and Shifts in Supply Curve, Price Elasticity of Supply.

Concepts covered in Market Mechanism: Equilibrium Price and Quantity in a Competitive Market are Applications of Tools of Demand and Supply Price Control, Basic Concepts of Equilibrium and Equilibrium Price, Effect of Simultaneous change in Demand and Supply on Equilibrium Price, Effects of Simultaneous Changes (Shifts) in Demand and Supply, Equilibrium Price and Quantity in a Competitive Market, Some Special Cases of Equilibrium.

Concepts covered in Laws of Returns - Returns to a Factor and Returns to Scale are Basics of Production Theory, Changes in Production, Diseconomies of Scale, Economies of Scale, Explanation of the Law of Variable Proportions, Factors of Production, Law of Variable Proportions, Law of Variable Proportions and Returns to Scale Compared, Production Function, Products, Relationship between Average Product (AP) and Marginal Product (MP), Relationship between Total Product (TP) and Marginal Product (MP), Scale of Production and Concept of Indivisibility, Significance of Economies of Scale, Stages of Operation and the Decision to Produce, Three Stages of Production, Variation of Output in the Long Run - Returns to Scale, Variation of Output in the Short-Run Returns to a Factor.

Concepts covered in Cost and Revenue Analysis are Behaviour of Cost in the Short - Run, Comparative Study of Revenue Curves under Different Markets, Cost Concepts > Average Cost, Cost Concepts > Marginal Cost, Cost Concepts > Total Costs, Cost of Production, Costs in Long Run Period, Difference Between Short - Run & Long Run Costs, Long-Run Cost Curves, Relation Between Total, Average and Marginal Revenue, Relationship between Average and Marginal Cost, Relationship Between (Mutual Determination) AR, MR, and Elasticity of Demand, Relationship between Total, Average and Marginal Revenues under Perfect Competition, Relationship between Total, Average and Marginal Revenue under Imperfect Competition, Revenue Concepts, Significance of Revenue Curve, Theories of Costs: Traditional Theory of Costs/Short Run Cost Curves, Types of Revenue.

Concepts covered in Forms of Market are Bilateral Monopoly, Classification of Market Structure, Comparison between different forms of market, Concept of Market, Concept of Monopsony, Demand Curves of Firms under Different Market Forms, Duopoly, Factors Determining Market / Extent of Market, Market Structure, Monopolistic Competition, Monopoly, Oligopoly, Other Forms of Market, Perfect Competition.

Concepts covered in Producer's Equilibrium are Firm : An Economic Entity, Firm's Equilibrium, Producer's (Firm's) Equilibrium: Marginal Revenue and Marginal Cost Approach, Producer's (Firm's) Equilibrium: Total Revenue and Total Cost Approach, Profit Maximisation Objective.

Concepts covered in Determination of Equilibrium Price and Output Under Perfect Competition are Changes in Equilibrium, Comparison between Market Price and Normal Price, Determination of Equilibrium Prices, Determination of Long Run Equilibrium of a Firm, Determination of Short Run Equilibrium of a Firm, Effect of Simultaneous change in Demand and Supply on Equilibrium Price, Normal Price and Law of Returns, Perfect Competition, Practical Applications of Tools of Demand and Supply Analysis, Price Determination Under Perfect Competition, Time Element in the Theory of Price Determination.

Concepts covered in Theory of Income and Employment are Aggregate Demand and Its Components, Basic Model of Income Determination, Deficient Demand, Determination of Equilibrium Income and Output, Excess Demand, Important Terms of Employment and Unemployment, Investment Expenditure, Investment Multiplier and Its Mechanism, Propensity to Consume or Consumption Function, Propensity to Save, Saving-investment Approach, Solved Problems on Consumption and Income, The Concept of Full Employment.

Concepts covered in Money: Meaning and Functions are Barter system, Concept of Money, Functions of Money, Importance of Money, Inflation, Modern Forms of Money, Supply of Money, Types of Money.

Concepts covered in Banks: Commercial Bank and Central Bank are Banking > Functions of Commercial Bank, Central Bank, Central Bank as a Controller of Credit, Commercial Banks, Comparison Between Central Bank and Commercial Banks, Concept of Bank, Credit Creation by Commercial Banks, Methods of Credit Control, Qualitative (Or Selective) Methods, Quantitative Methods, Role of Commercial Banks in an Economy, Types of Bank.

Concepts covered in Balance of Payments and Exchange Rate are Balance of Payments Always Balances, Balance of Payments Disequilibrium, Balance of Trade and Balance of Payments- Comparison, Capital Account Transactions, Categories of Balance of Payments, Components of Balance of Payments, Concept of Balance of Payments, Concepts of Depreciation, Appreciation, Devaluation and Revaluation, Current Account Transactions, Determination of Equilibrium Rate of Exchange, Determination of Exchange Rate in a Free Market, Exchange Rate, Factors or Determinants of Foreign Exchange Rate, Features of Balance of Payment, Fixed Rate of Exchange, Flexible Rate of Exchange, Foreign Exchange Rate, Managed Floating Exchange Rate System, Measures to Correct Disequilibrium in the Balance of Payments, Methods to Measure Balance of Payments, Structure of Balance of Payment, Types of Foreign Exchange Rate.

Concepts covered in Fiscal Policy are Deficit Financing, Fiscal Measures for Stabilisation, Fiscal Policy in Action, Importance of Public Expenditure, Instruments of Fiscal Policy, Instruments of Fiscal Policy - Taxation, Limitations of Fiscal Policy, Methods of Fiscal Policy in Developing Countries, Miscellaneous Objectives of Fiscal Policy, Objectives of Fiscal Policy, Proportional, Progressive and Regressive Taxes, Public Debt - Redemption, Public Finance, Reasons for Borrowing by the Government, Structure of Public Finance > Fiscal Policy, Structure of Public Finance > Public Debt, Structure of Public Finance > Public Expenditure, Structure of Public Finance > Public Revenue, Tax Reforms in India, Types of Taxes.

Concepts covered in Government Budget are Balanced Budget Vs Unbalanced Budget, Budget, Budgetary Procedure, Capital Receipts, Classification of Budget Receipts, Components (Structure) of the Government Budget, Concepts Related to Budget Deficits, Constituents of budget /Structure of the budget, Developmental and Non-developmental Expenditure, Government Budget, Modern Classification of Budget, Need and Importance of Government Budget, Objectives of Budget, Public Revenue > Non-tax Revenue, Revenue Expenditure and Capital Expenditure, Significance of Budget, Structure of Public Finance > Public Expenditure, Tax Revenue, Types of Budget, Types of budget deficit, Types of Government Budget in India, Zero-Base Budgeting in India, Zero-Base Budgeting (ZBB).

Concepts covered in National Income and Circular Flow of Income are Circular flow and the Equality between Production, Income and Expenditure, Circular Flow in a Closed Economy, Circular Flow in a Open Economy, Circular Flow of Income, Concept of National Income, Domestic Income, Economic Sectors of an Economy, Four-Sector Model of Circular Flow of Income, National Income Aggregates, Significance or Importance of Circular Flow of Income, Significance or Importance of National Income, Three-Sector Model of Circular Flow of Income, Two-Sector Model without Savings and Investment, Two-Sector Model with Savings and Investment.

Concepts covered in National Income Aggregates are Constituents of GNP, Difference between National and Private Income, Difference between Net Domestic and Net National Product at Market Price, Difference between Net Domestic Product at Factor Cost and Net Domestic Product at Market Price, Difference between Net National and Gross National Product at Market Price, Difference between Private and Personal Income, Disposable Income Aggregates, Factor Income from Net Domestic Product accuring to Private Sector, Gross Domestic Product at Market Price, Gross Domestic Product (National Income) and Economic Welfare, Gross Domestic Product or Income at Factor Cost, Gross National Product at Factor Cost, Gross National Product at Market Price, Interrelationship among National Income Aggregates, Key Relationships Among National Income Aggregates, National Income Aggregates, Net Domestic Product at Market Price, Net Domestic Product or Income at Factor Cost, Net National Income or Product at Factor Cost, Net National Product (NNP), Per Capita Income, Personal Income of National Income, Private Income, Real GDP and Nominal GDP, Real Income.

Concepts covered in Methods of Measuring National Income are Alternative Methods of National Income Estimation, Components of Net National Product at Factor Cost in its Three Phases, Concept of National Income, Difficulties in the Estimation of National Income by Value-added Method, Expenditure Method, Income Method, Methods of Measurement of National Income, Net Product or Value Added Method, Numericals on Income, Product and Expenditure Method, Precautions in the Estimation of National Income by Expenditure Method, Precautions in the Estimation of National Income by Value-added Method, Reconciling The Three Methods Of Estimating National Income, Significance of three Methods, The Identity of Output, Income and Expenditure, Transactions Included in National Income, Transactions not Included in National Income.

Concepts covered in Project Work are Aggregate Demand and Its Components, Alfred Marshall: Key Contributor to Economics, Alternative Methods of National Income Estimation, Applications of Tools of Demand and Supply Price Control, Approaches to Consumer Behaviour, Balanced Budget Vs Unbalanced Budget, Balance of Payments Always Balances, Balance of Payments Disequilibrium, Balance of Trade and Balance of Payments- Comparison, Banking > Functions of Commercial Bank, Barter system, Basic Concepts of Equilibrium and Equilibrium Price, Basic Concepts of Microeconomics > Utility, Basic Model of Income Determination, Basics of Production Theory, Behaviour of Cost in the Short - Run, Bilateral Monopoly, Branches of Economics, Budget, Budgetary Procedure, Capital Account Transactions, Capital Receipts, Cardinal Approach (Utility Analysis), Categories (Degrees) of Elasticity of Supply, Categories of Balance of Payments, Central Bank, Central Bank as a Controller of Credit, Change in Demand – Shift in Demand Curve, Change in Quantity Demanded: Movement along the Demand Curve, Changes in Equilibrium, Changes in Production, Circular flow and the Equality between Production, Income and Expenditure, Circular Flow in a Closed Economy, Circular Flow in a Open Economy, Circular Flow of Income, Classification of Budget Receipts, Classification of Market Structure, Commercial Banks, Comparative Study of Revenue Curves under Different Markets, Comparison Between Central Bank and Commercial Banks, Comparison between different forms of market, Comparison between Market Price and Normal Price, Components of Balance of Payments, Components of Net National Product at Factor Cost in its Three Phases, Components (Structure) of the Government Budget, Concept of Balance of Payments, Concept of Bank, Concept of Demand, Concept of Elasticity of Demand, Concept of Market, Concept of Money, Concept of Monopsony, Concept of National Income, Concept of Supply, Concepts of Depreciation, Appreciation, Devaluation and Revaluation, Concepts Related to Budget Deficits, Constituents of budget /Structure of the budget, Constituents of GNP, Consumer's Equilibrium through Cardinal Utility Approach, Consumer's Equilibrium through Indifference Curve Approach, Cost Concepts > Average Cost, Cost Concepts > Marginal Cost, Cost Concepts > Total Costs, Cost of Production, Costs in Long Run Period, Credit Creation by Commercial Banks, Current Account Transactions, Deficient Demand, Deficit Financing, Demand Curve, Demand Curves of Firms under Different Market Forms, Demand Function, Demand Schedule, Determinants of Demand, Determinants of Supply, Determination of Equilibrium Income and Output, Determination of Equilibrium Prices, Determination of Equilibrium Rate of Exchange, Determination of Exchange Rate in a Free Market, Determination of Long Run Equilibrium of a Firm, Determination of Short Run Equilibrium of a Firm, Developmental and Non-developmental Expenditure, Difference Between Contraction and Decrease in Demand, Difference Between Extension and Increase in Demand, Difference between National and Private Income, Difference between Net Domestic and Net National Product at Market Price, Difference between Net Domestic Product at Factor Cost and Net Domestic Product at Market Price, Difference between Net National and Gross National Product at Market Price, Difference between Private and Personal Income, Difference Between Short - Run & Long Run Costs, Difficulties in the Estimation of National Income by Value-added Method, Diseconomies of Scale, Disposable Income Aggregates, Domestic Income, Duopoly, Economic Sectors of an Economy, Economies of Scale, Effect of Simultaneous change in Demand and Supply on Equilibrium Price, Effects of Simultaneous Changes (Shifts) in Demand and Supply, Equilibrium Price and Quantity in a Competitive Market, Exceptions to the Law of Demand, Excess Demand, Exchange Rate, Expenditure Method, Explanation of the Law of Variable Proportions, Factor Income from Net Domestic Product accuring to Private Sector, Factors Affecting Price Elasticity of Demand, Factors Determining Market / Extent of Market, Factors of Production, Factors or Determinants of Foreign Exchange Rate, Features of Balance of Payment, Firm : An Economic Entity, Firm's Equilibrium, Fiscal Measures for Stabilisation, Fiscal Policy in Action, Fixed Rate of Exchange, Flexible Rate of Exchange, Foreign Exchange Rate, Four-Sector Model of Circular Flow of Income, Functions of Money, Government Budget, Gross Domestic Product at Market Price, Gross Domestic Product (National Income) and Economic Welfare, Gross Domestic Product or Income at Factor Cost, Gross National Product at Factor Cost, Gross National Product at Market Price, Importance and Limitations of law of Equi-Marginal Utility, Importance of Elasticity of Demand, Importance of Money, Importance of Public Expenditure, Importance of the Law of Demand, Important Terms of Employment and Unemployment, Income Method, Individual Demand Curve, Individual Demand Schedule, Inflation, Instruments of Fiscal Policy, Instruments of Fiscal Policy - Taxation, Interrelationship among National Income Aggregates, Investment Expenditure, Investment Multiplier and Its Mechanism, Key Relationships Among National Income Aggregates, Law of Demand, Law of Diminishing Marginal Utility, Law of Equi-Marginal Utility, Law of Supply, Law of Variable Proportions, Law of Variable Proportions and Returns to Scale Compared, Limitations of Fiscal Policy, Long-Run Cost Curves, Macroeconomics, Managed Floating Exchange Rate System, Market Demand Curve, Market Demand Schedule, Market Structure, Measurement of Elasticity of Supply, Measures to Correct Disequilibrium in the Balance of Payments, Methods of Credit Control, Methods of Fiscal Policy in Developing Countries, Methods of Measurement of National Income, Methods of Measuring Price Elasticity of Demand, Methods to Measure Balance of Payments, Microeconomics, Micro Economics VS Macro Economics, Miscellaneous Objectives of Fiscal Policy, Modern Classification of Budget, Modern Forms of Money, Monopolistic Competition, Monopoly, Movement along the Demand Curve and Shift of the Demand Curve, Movements Along and Shifts in Supply Curve, National Income Aggregates, Need and Importance of Government Budget, Net Domestic Product at Market Price, Net Domestic Product or Income at Factor Cost, Net National Income or Product at Factor Cost, Net National Product (NNP), Net Product or Value Added Method, Normal Price and Law of Returns, Numerical Problems of Price Elasticity of Demand, Numericals on Income, Product and Expenditure Method, Objectives of Budget, Objectives of Fiscal Policy, Oligopoly, Ordinal Utility Analysis/Indifference Curve Analysis, Other Forms of Market, Paul A. Samuelson: Father of Modern Economics, Per Capita Income, Perfect Competition, Personal Income of National Income, Practical Applications of Tools of Demand and Supply Analysis, Precautions in the Estimation of National Income by Expenditure Method, Precautions in the Estimation of National Income by Value-added Method, Price Determination Under Perfect Competition, Price Elasticity of Supply, Price Line or Budget Line, Private Income, Producer's (Firm's) Equilibrium: Marginal Revenue and Marginal Cost Approach, Producer's (Firm's) Equilibrium: Total Revenue and Total Cost Approach, Production Function, Products, Profit Maximisation Objective, Propensity to Consume or Consumption Function, Propensity to Save, Properties of Indifference Curves, Proportional, Progressive and Regressive Taxes, Public Debt - Redemption, Public Finance, Public Revenue > Non-tax Revenue, Qualitative (Or Selective) Methods, Quantitative Methods, Real GDP and Nominal GDP, Real Income, Reasons for Borrowing by the Government, Reasons for the Downward Slope of the Demand Curve, Reconciling The Three Methods Of Estimating National Income, Relation Between Total, Average and Marginal Revenue, Relationship between Average and Marginal Cost, Relationship between Average Product (AP) and Marginal Product (MP), Relationship Between Marginal Rate of Substitution and Marginal Utility, Relationship Between (Mutual Determination) AR, MR, and Elasticity of Demand, Relationship between Total, Average and Marginal Revenues under Perfect Competition, Relationship between Total, Average and Marginal Revenue under Imperfect Competition, Relationship between Total Product (TP) and Marginal Product (MP), Relationship Between Total Utility and Marginal Utility, Revenue Concepts, Revenue Expenditure and Capital Expenditure, Role of Commercial Banks in an Economy, Role of Demand and Supply in Economics, Saving-investment Approach, Scale of Production and Concept of Indivisibility, Significance of Budget, Significance of Economies of Scale, Significance of Revenue Curve, Significance of three Methods, Significance or Importance of Circular Flow of Income, Significance or Importance of National Income, Solved Problems on Consumption and Income, Some Special Cases of Equilibrium, Stages of Operation and the Decision to Produce, Structure of Balance of Payment, Structure of Public Finance > Fiscal Policy, Structure of Public Finance > Public Debt, Structure of Public Finance > Public Expenditure, Structure of Public Finance > Public Revenue, Supply of Money, Tax Reforms in India, Tax Revenue, The Concept of Full Employment, The Identity of Output, Income and Expenditure, Theories of Costs: Traditional Theory of Costs/Short Run Cost Curves, Three-Sector Model of Circular Flow of Income, Three Stages of Production, Time Element in the Theory of Price Determination, Total Utility and Marginal Utility, Transactions Included in National Income, Transactions not Included in National Income, Two-Sector Model without Savings and Investment, Two-Sector Model with Savings and Investment, Types of Bank, Types of Budget, Types of budget deficit, Types of Demand, Types of Elasticity of Demand > Cross Elasticity, Types of Elasticity of Demand > Income Elasticity, Types of Elasticity of Demand > Price Elasticity, Types of Foreign Exchange Rate, Types of Government Budget in India, Types of Money, Types of Revenue, Types of Taxes, Variation of Output in the Long Run - Returns to Scale, Variation of Output in the Short-Run Returns to a Factor, Zero-Base Budgeting in India, Zero-Base Budgeting (ZBB).

Concepts covered in Model Short Answer Questions are Aggregate Demand and Its Components, Alfred Marshall: Key Contributor to Economics, Alternative Methods of National Income Estimation, Applications of Tools of Demand and Supply Price Control, Approaches to Consumer Behaviour, Balanced Budget Vs Unbalanced Budget, Balance of Payments Always Balances, Balance of Payments Disequilibrium, Balance of Trade and Balance of Payments- Comparison, Banking > Functions of Commercial Bank, Barter system, Basic Concepts of Equilibrium and Equilibrium Price, Basic Concepts of Microeconomics > Utility, Basic Model of Income Determination, Basics of Production Theory, Behaviour of Cost in the Short - Run, Bilateral Monopoly, Branches of Economics, Budget, Budgetary Procedure, Capital Account Transactions, Capital Receipts, Cardinal Approach (Utility Analysis), Categories (Degrees) of Elasticity of Supply, Categories of Balance of Payments, Central Bank, Central Bank as a Controller of Credit, Change in Demand – Shift in Demand Curve, Change in Quantity Demanded: Movement along the Demand Curve, Changes in Equilibrium, Changes in Production, Circular flow and the Equality between Production, Income and Expenditure, Circular Flow in a Closed Economy, Circular Flow in a Open Economy, Circular Flow of Income, Classification of Budget Receipts, Classification of Market Structure, Commercial Banks, Comparative Study of Revenue Curves under Different Markets, Comparison Between Central Bank and Commercial Banks, Comparison between different forms of market, Comparison between Market Price and Normal Price, Components of Balance of Payments, Components of Net National Product at Factor Cost in its Three Phases, Components (Structure) of the Government Budget, Concept of Balance of Payments, Concept of Bank, Concept of Demand, Concept of Elasticity of Demand, Concept of Market, Concept of Money, Concept of Monopsony, Concept of National Income, Concept of Supply, Concepts of Depreciation, Appreciation, Devaluation and Revaluation, Concepts Related to Budget Deficits, Constituents of budget /Structure of the budget, Constituents of GNP, Consumer's Equilibrium through Cardinal Utility Approach, Consumer's Equilibrium through Indifference Curve Approach, Cost Concepts > Average Cost, Cost Concepts > Marginal Cost, Cost Concepts > Total Costs, Cost of Production, Costs in Long Run Period, Credit Creation by Commercial Banks, Current Account Transactions, Deficient Demand, Deficit Financing, Demand Curve, Demand Curves of Firms under Different Market Forms, Demand Function, Demand Schedule, Determinants of Demand, Determinants of Supply, Determination of Equilibrium Income and Output, Determination of Equilibrium Prices, Determination of Equilibrium Rate of Exchange, Determination of Exchange Rate in a Free Market, Determination of Long Run Equilibrium of a Firm, Determination of Short Run Equilibrium of a Firm, Developmental and Non-developmental Expenditure, Difference Between Contraction and Decrease in Demand, Difference Between Extension and Increase in Demand, Difference between National and Private Income, Difference between Net Domestic and Net National Product at Market Price, Difference between Net Domestic Product at Factor Cost and Net Domestic Product at Market Price, Difference between Net National and Gross National Product at Market Price, Difference between Private and Personal Income, Difference Between Short - Run & Long Run Costs, Difficulties in the Estimation of National Income by Value-added Method, Diseconomies of Scale, Disposable Income Aggregates, Domestic Income, Duopoly, Economic Sectors of an Economy, Economies of Scale, Effect of Simultaneous change in Demand and Supply on Equilibrium Price, Effects of Simultaneous Changes (Shifts) in Demand and Supply, Equilibrium Price and Quantity in a Competitive Market, Exceptions to the Law of Demand, Excess Demand, Exchange Rate, Expenditure Method, Explanation of the Law of Variable Proportions, Factor Income from Net Domestic Product accuring to Private Sector, Factors Affecting Price Elasticity of Demand, Factors Determining Market / Extent of Market, Factors of Production, Factors or Determinants of Foreign Exchange Rate, Features of Balance of Payment, Firm : An Economic Entity, Firm's Equilibrium, Fiscal Measures for Stabilisation, Fiscal Policy in Action, Fixed Rate of Exchange, Flexible Rate of Exchange, Foreign Exchange Rate, Four-Sector Model of Circular Flow of Income, Functions of Money, Government Budget, Gross Domestic Product at Market Price, Gross Domestic Product (National Income) and Economic Welfare, Gross Domestic Product or Income at Factor Cost, Gross National Product at Factor Cost, Gross National Product at Market Price, Importance and Limitations of law of Equi-Marginal Utility, Importance of Elasticity of Demand, Importance of Money, Importance of Public Expenditure, Importance of the Law of Demand, Important Terms of Employment and Unemployment, Income Method, Individual Demand Curve, Individual Demand Schedule, Inflation, Instruments of Fiscal Policy, Instruments of Fiscal Policy - Taxation, Interrelationship among National Income Aggregates, Investment Expenditure, Investment Multiplier and Its Mechanism, Key Relationships Among National Income Aggregates, Law of Demand, Law of Diminishing Marginal Utility, Law of Equi-Marginal Utility, Law of Supply, Law of Variable Proportions, Law of Variable Proportions and Returns to Scale Compared, Limitations of Fiscal Policy, Long-Run Cost Curves, Macroeconomics, Managed Floating Exchange Rate System, Market Demand Curve, Market Demand Schedule, Market Structure, Measurement of Elasticity of Supply, Measures to Correct Disequilibrium in the Balance of Payments, Methods of Credit Control, Methods of Fiscal Policy in Developing Countries, Methods of Measurement of National Income, Methods of Measuring Price Elasticity of Demand, Methods to Measure Balance of Payments, Microeconomics, Micro Economics VS Macro Economics, Miscellaneous Objectives of Fiscal Policy, Modern Classification of Budget, Modern Forms of Money, Monopolistic Competition, Monopoly, Movement along the Demand Curve and Shift of the Demand Curve, Movements Along and Shifts in Supply Curve, National Income Aggregates, Need and Importance of Government Budget, Net Domestic Product at Market Price, Net Domestic Product or Income at Factor Cost, Net National Income or Product at Factor Cost, Net National Product (NNP), Net Product or Value Added Method, Normal Price and Law of Returns, Numerical Problems of Price Elasticity of Demand, Numericals on Income, Product and Expenditure Method, Objectives of Budget, Objectives of Fiscal Policy, Oligopoly, Ordinal Utility Analysis/Indifference Curve Analysis, Other Forms of Market, Paul A. Samuelson: Father of Modern Economics, Per Capita Income, Perfect Competition, Personal Income of National Income, Practical Applications of Tools of Demand and Supply Analysis, Precautions in the Estimation of National Income by Expenditure Method, Precautions in the Estimation of National Income by Value-added Method, Price Determination Under Perfect Competition, Price Elasticity of Supply, Price Line or Budget Line, Private Income, Producer's (Firm's) Equilibrium: Marginal Revenue and Marginal Cost Approach, Producer's (Firm's) Equilibrium: Total Revenue and Total Cost Approach, Production Function, Products, Profit Maximisation Objective, Propensity to Consume or Consumption Function, Propensity to Save, Properties of Indifference Curves, Proportional, Progressive and Regressive Taxes, Public Debt - Redemption, Public Finance, Public Revenue > Non-tax Revenue, Qualitative (Or Selective) Methods, Quantitative Methods, Real GDP and Nominal GDP, Real Income, Reasons for Borrowing by the Government, Reasons for the Downward Slope of the Demand Curve, Reconciling The Three Methods Of Estimating National Income, Relation Between Total, Average and Marginal Revenue, Relationship between Average and Marginal Cost, Relationship between Average Product (AP) and Marginal Product (MP), Relationship Between Marginal Rate of Substitution and Marginal Utility, Relationship Between (Mutual Determination) AR, MR, and Elasticity of Demand, Relationship between Total, Average and Marginal Revenues under Perfect Competition, Relationship between Total, Average and Marginal Revenue under Imperfect Competition, Relationship between Total Product (TP) and Marginal Product (MP), Relationship Between Total Utility and Marginal Utility, Revenue Concepts, Revenue Expenditure and Capital Expenditure, Role of Commercial Banks in an Economy, Role of Demand and Supply in Economics, Saving-investment Approach, Scale of Production and Concept of Indivisibility, Significance of Budget, Significance of Economies of Scale, Significance of Revenue Curve, Significance of three Methods, Significance or Importance of Circular Flow of Income, Significance or Importance of National Income, Solved Problems on Consumption and Income, Some Special Cases of Equilibrium, Stages of Operation and the Decision to Produce, Structure of Balance of Payment, Structure of Public Finance > Fiscal Policy, Structure of Public Finance > Public Debt, Structure of Public Finance > Public Expenditure, Structure of Public Finance > Public Revenue, Supply of Money, Tax Reforms in India, Tax Revenue, The Concept of Full Employment, The Identity of Output, Income and Expenditure, Theories of Costs: Traditional Theory of Costs/Short Run Cost Curves, Three-Sector Model of Circular Flow of Income, Three Stages of Production, Time Element in the Theory of Price Determination, Total Utility and Marginal Utility, Transactions Included in National Income, Transactions not Included in National Income, Two-Sector Model without Savings and Investment, Two-Sector Model with Savings and Investment, Types of Bank, Types of Budget, Types of budget deficit, Types of Demand, Types of Elasticity of Demand > Cross Elasticity, Types of Elasticity of Demand > Income Elasticity, Types of Elasticity of Demand > Price Elasticity, Types of Foreign Exchange Rate, Types of Government Budget in India, Types of Money, Types of Revenue, Types of Taxes, Variation of Output in the Long Run - Returns to Scale, Variation of Output in the Short-Run Returns to a Factor, Zero-Base Budgeting in India, Zero-Base Budgeting (ZBB).