3 Review(s)

Section-I: 1. PROBLEM OF SCARCITY AND CHOICE 2. PRODUCTION POSSIBILITY CURVE AND OPPORTUNITY COST 3. ECONOMIC SYSTEMS Section–II: 1. DEMAND ANALYSIS 2. ELASTICITY OF DEMAND 3. SUPPLY AND ELASTICITY OF SUPPLY Section–III: 1. UTILITY ANALYSIS–CARDINAL APPROACH 2. THE LAW OF DIMINISHING MARGINAL UTILITY 3. THE LAW OF EQUI-MARGINAL UTILITY 4 UTILITY ORDINAL APPROACH—INDIFFERENCE CURVE ANALYSIS 5. CONSUMER’S SURPLUS AND PRODUCER’S SURPLUS Section–IV: 1. PRODUCTION FUNCTION : LAWS OF PRODUCTION 2. RETURNS TO SCALE 3. ISOQUANT OR EQUAL PRODUCT CURVE AND ELASTICITY OF SUBSTITUTION 4. SCALE OF PRODUCTION—ECONOMIES OF SCALE Section–V: 1. THEORY OF COSTS 2. THE CONCEPT OF REVENUE Section–VI: 1. MARKET AND ITS CLASSIFICATION 2. PRICE DETERMINATION UNDER PERFECT COMPETITION 3. EQUILIBRIUM OF FIRM UNDER PERFECT COMPETITION 4. MONOPOLY, DISCRIMINATING MONOPOLY AND MONOPOLY CONTROL 5. MONOPOLISTIC (IMPERFECT) COMPETITION 6. OLIGOPOLY AND DUOPOLY Section–VII: 1. CONSUMER AND PRODUCER THEORY 2. MARKETS AND MARKET FAILURE 3. INCOME DISTRIBUTION 4. WELFARE ECONOMICS