Escolar Documentos
Profissional Documentos
Cultura Documentos
IS A SOCIAL SCIENCE
WHICH STUDIES HUMAN BEHAVIOUR
IN RELATION TO OPTIMIZING ALLOCATION
OF AVAILABLE RESOURCES
TO ACHIEVE THE GIVEN ENDS
ECONOMICS
THEORY OF DEMAND
THEORY OF PRODUCTION AND COST
FACTOR PRICING (THEORY OF
DISTRIBUTION
THEORY OF ECONOMIC WELFARE
THEORY OF INTERNATIONAL TRADE
MACRO ECONOMICS
INFERIOR GOODS
IGNORANCE
GOODS OF OSTENTATION STATUS
SYMBOL)
EMERGENCY
FUTURE EXPECTATION OF RISE IN PRICE
GOOD TO BE BECOME SCARCE IN FUTURE
PAY BACK PERIOD
DISADVANTAGES
TIME VALUE OF MONEY IS IGNORED
FORECASTING OF CASH INFLOWS IS NOT
EASY
PROFITS AFTER PAY BACK PERIOD IS
IGNORED
ADVANTAGES
SIMPLE
NO CALCULATIONS
DEFINATION PAY BACK PERIOD
RESPONSIVENESS OF DEMAND TO
CHANGE IN PRICE
TYPES OF ELASTICITY
PRICE ELASTICITY
INCOME ELASTICITY
CROSS ELASTICITY
FACTORS AFFECTING ELASTICITY
OF DEMAND
NATURE OF THE COMMODITY
SUBTITUTES
VARIETY OF USES
DEFERRED CONSUMPTIONS
HABITS
INCOME GROUP
PROPOTION OF INCOME SPENT
LEVEL OF PRICES
NATIONAL INCOME
ONE SELLER
LARGE NO OF BUYERS
NO CLOSE SUBSTITUTE OF THE PRODUCT
STRONG BARRIERS TO ENTRY
FIRM IS THE PRICE MAKER
PRICE ELASTICITY IS VERY LOW
PRICE DISCRIMINATION
NO SELLINF COST
CHARACTERSTICS OF MARKETS
AN AREA
PRODUCT
BUYERS AND SELLERS
FREE COMPETITION
ONE PRICE
FORMS OF MARKET STRUCTURE
PERFECT COMPETITION
MONOPOLY
DUOPOLY
OLIGOPOLY
MONOPOLISTIC COMPETITION
CHARACTERSTICS OF PERFECT
COMPETITION
LARGE NO OF BUYERS AND SELLERS
FREE ENTRY FREE EXIT
HOMOGENEOUS PRODUCT
PROFIT MAXIMIZATION GOAL
PERFECT MOBILITY OF GOODS AND FACTORS
PERFECT KNOWLEDGE OF MARKET
CONDITION
ABSENCE OF TRANSPORT COST
ABSENCE OF SELLING COST
PURE COMPETITION AND
PERFECT COMPETITION
FIRST FOUR CONDITIONS PURE
COMPETITION
ADDITIONAL FOUR CONDITION PURE
COMPETITION
CHARACTERSTICS OF
MONOPOLISTIC COMPETITION
MANY NO OF SELLERS
LARGE NO OF BUYERS
FREE ENTRY FREE EXIT
PRODUCT DIFFERENTITION
FIRM HAS SOME CONTROL OVER THE PRICE
HIGH SELLING COST
PRICE LASTICITY IS VERY HIGH
REAL MARKET
INDIFFERENCE CURVE
COMBINATIONS X Y
1 1 18
2 2 13
3 3 9
4 4 6
5 5 4
6 6 3
PROPERTIES OF INDIFFERNCE
CURVE
1 A HIGHER INDIFFERENCE CURVE TO THE
RIGHT OF ANOTHER REPRESENTS A
HIGHER LEVEL OF SATISFACTION
THE SLOPE OF INDIFFERNCE CURVE IS
NEGATIVE
INDIFFERENCE CURVES CAN NEITHER
TOUCH NOR INTERSECT EACH OTHER
AN INDIFFERECE CURVE IS CONVEX TO
THE ORIGIN
Price qty demand
2 20
10 19