|Topic Id||Topic Name||Short Description|
|54||CHAPTER 29 - GOVERNMENT AND THE BUDGET||
You will be able to understand the meaning & structure of government budget, differentiate between revenue & capital receipts, revenue & capital expenditure, plan & non plan expenditure.
|53||CHAPTER 28 - MONEY AND BANKING||
You will be able to know the meaning & limitation of barter system,need definition & function of money,different measures of money supply in India,the concept of High Powered Money,Central bank.
|52||CHAPTER 27 - THEORY OF INCOME DETERMINATION||
You will be able to know the meaning of aggregate demand, aggregate supply & effective demand of an economy, the components of aggregate demand, the equilibrium level of income & employment.
|51||CHAPTER 26 - CONSUMPTION, SAVING AND INVESTMENT||
You will be able to define consumption function & saving function,explain propensity to consume & save,identify the factors determining propencities to consume & save.
|50||CHAPTER 25 - NATIONAL INCOME AND ITS MEASUREMENT|
You will be able to define & relate national income from three different angles,Identify production units located in the economic territory of a country into different industrial sectors.
|49||CHAPTER 24 - NATIONAL INCOME AND RELATED AGGREGATES||
You will be able to make a distinction between factor incomes and non-factor incomes, understand the circular flow of income and basic economics activities, make distinction between closed and open economy.
|48||CHAPTER 23 - REVENUE AND PROFIT MAXIMIZATION OF A COMPETITIVE FIRM||
You will be able to understand the concept of total revenue (TR) ; average revenue (AR) and marginal revenue (MR); distinguish between super normal profit, normal profit, and loss.
|47||CHAPTER 22 - PRICE DETERMINATION UNDER PERFECT COMPETITION||
You will be able to explain the meaning of equilibrium price, the process by which the twin market forces of demand and supply determine the equilibrium market price of a comodity under perfect competition.
|46||CHAPTER 21 - FORMS OF MARKET||
You will be able to understand the concept of market, know the meaning & features of monopoly, perfect competition, monopolistic competition, oligopoly & a comparion among different forms of market.
|45||CHAPTER 20 - PRICE ELASTICITY OF SUPPLY||
You will be able to define, understand and represent different degrees of price elasticity of supply, explain the percentage method of calculating price elasticity of supply, solve numerical example of price elasticity of supply
|44||CHAPTER 19 - SUPPLY||
You will be able to define supply, discuss the factors that affect the supply, know the meaning of supply function, prepare a supply schedules from supply function, state & explain the law of supply.
|43||CHAPTER 18 - COST OF PRODUCTION||
You will be able to define cost of production, distinguish between the meaning of cost as used in business and as used in economics and explain the meaning importance & calculation of various concepts of cost.
|42||CHAPTER 17 - PRODUCTION FUNCTION||
You will be able to define the meaning of production function in the short run known as law of variable proportions, understand the different concepts of production & show their relationships.
|41||CHAPTER 16 - PRICE ELASTICITY OF DEMAND||
You will be able to explain the meaning of elasticity of demand, the meaning of price, income, cross elasticity of demand, varoius types & methods of calculating price elasticity of demand.
|40||CHAPTER 15 - DEMAND||
You will be able to explain the meaning of Demand, differentiate between desire, want and demand.differtiate between individual demand and market demand.
|38||CHAPTER 14 - CONSUMER'S EQUILIBRIUM||
You will be able to understand the meaning of consumer's equilibrium, utility, marginal utility, & total utility, the relationship between total utility & marginal utility, law of diminishing marginal utility, consumer's equilibrium based on utility analysis, meaning of indifference curve & map, budget line, budget set & marginal rate of substitution & derive consumer's equilibrium using indifference curve & budget line.
|37||CHAPTER 13 - CENTRAL PROBLEMS OF AN ECONOMY||
You will be able to,explain the causes of economic problems, Identify the central problems : 'what to produce' , 'how to produce' , & ' for whom to produce' , the concept of production possibility frontier curve, concepts of opportunity cost & marginal opportunity cost & the central problems of an economy by using the production possibility curve.
|36||CHAPTER 12 - INTRODUCTION TO THE STUDY OF ECONOMICS||
You will learn the meaning of economics, distinguish between positive & normative economics, differentiate between micro & macraeconomics & highlight their components, significance of microeconomics & macroeconomics and relate the interdependence of microeconomics & macroeconomics.