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Table of Contents
- UNIT l: Introduction to Economics: Definition, Nature and Scope of Economics. Micro and Macro Economics, Role of Economics in Decision Making.
- UNIT ll: Demand Analysis and Supply Analysis: Meaning of Demand, Types of Demand, Law of demand, Determinants of Demand, Demand Function, Elasticity of demand- price elasticity of demand. Income elasticity of demand, Cross Elasticity of demand, Law of Supply, Supply Schedule, Supply Curve, Price elasticity of supply.
- UNIT lll: Production Analysis: Production function, Types of Production Function, Law of Returns, Law of variable proportions, Law of Increasing Returns, Law of Constant Returns, Law of Diminishing returns, Returns to scale.
- UNIT IV: Cost and Revenue Analysis: Cost concepts, Elements of Cost, Relationship between Production and Cost, Average and Marginal cost curves, Relationship between average and marginal cost, Concept of revenue, Revenue Curve, Relationship between average and marginal revenue.
- UNIT V: Market Structures: Meaning of Market, Classification of markets, Perfect Competition, Imperfect Competition, Monopolistic Market, Oligopoly Market, and Duopoly Market.
- UNIT VI: International Tread :Balance of Payments, Concepts, Disequilibrium in BOP: Methods of Correction, Tread Barriers and Tread Strategy, Free Trade vs. Protection.
Microeconomics Questions and Answers
Microeconomics Question Paper
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