Complete +2 Economics in 2 Hours🔥| Exam ପୂର୍ବରୁ ଦେଖିନିଅ 🤯| MCQ Revision & Explanation|All in ONE

Complete +2 Economics in 2 Hours🔥| Exam ପୂର୍ବରୁ ଦେଖିନିଅ 🤯| MCQ Revision & Explanation|All in ONE
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CHAPTERS COVER:-

CHAPTER-1: INTRODUCTION-
Definition, Scope and Subject matter of Economics.
Meaning of economy
• Central problems of an economy-scarcity and choice.
• What, How and for Whom to Produce ?
Basic concepts:
• Wants, Utility, Goods, Value, Price and Wealth.
CHAPTER 1: CONSUMPTION AND DEMAND
Laws of consumption:
• Marginal and Total utility
• Law of Diminishing Marginal Utility
• Law of Equimarginal Utility and conditions of consumer
• Equilibrium.
Demand:
• Meaning and determinants
• Individual and Market demand schedule and demand curve
• Movement along and shifts in demand curve
Price Elasticity of Demand:
Concept, Determinants
• Measurement of Price Elasticity of Demand:
• Percentage and Geometric method (Linear demand curve)
• Relation of Price Elasticity of Demand with total expenditure.


CHAPTER-III: PRODUCTION
Meaning of Production and Production Function- Short-run and Long-run.
Total, Average and Marginal Product.
Law of Variable Proportions and Returns to a Factor.
CHAPTER - IV: COST, REVENUE AND SUPPLY
Cost: Money and Real Cost, Implicit and Explicit Cost, Fixed and Variable Cost, Total, Average and Marginal Costs in the short-run and their relationship.
Revenue: Total, Average and Marginal Revenue and their relationship
Supply: Meaning and Law of Supply


CHAPTER-V: MARKET
Meaning and forms of market
Pure and perfect competition
• Price determination under perfect competition
• Effects of shifts in demand and supply
Meaning and Features of Monopoly, Monopolistic Competition and Oligopoly.
• Introductory Macro Economics


CHAPTER-VI: INTRODUCTION
Meaning of Macro Economics
Distinction between Macro and Micro Economics.
Subject matter of Macro Economics.


CHAPTER - VII: NATIONAL INCOME
Meaning and aggregates related to National Income:
• GNP, NNP, GDP and NDP at Market Price and Factor Cost
National disposable income (gross & net)
• Private income, Personal income,
• Personal disposable income
• Nominal and real national income
Income determination Aggregate demand and supply and their components.
Simple Keynesian Theory of Income Determination


CHAPTER - VIII: MONEY, BANKING AND PUBLIC FINANCE
Meaning and Functions of Money
Meaning and Functions of Commercial Bank
Functions of Central Bank
Meaning of Public Finance
Difference between Public and Private Finance
Budget-Meaning and objectives
Balanced and Unbalanced Budget, Surplus and Deficit Budget.