Economics XII | HSEB Notes



Unit 1: Market Economy, Demand, Supply, Equilibrium of Demand Supply

Market Economy

    1. Concept of market economy
    2. Features of market economy

Demand

    1. Meaning of Demand
    2. Law of Demand
    3. Types of Demand
    4. Determinants of demand
    5. Demand Curve
    6. Movement along Demand Curve

Supply

    1. Meaning of Supply
    2. Determinants of supply
    3. Supply curve
    4. Law of Supply
    5. Movement Along Supply Curve

Equilibrium

 

 

Unit 2: Elasticity of Demand

Meaning

Types of elasticity of demand

Measurement of price elasticity of demand by total outlay method
Factors determining the elasticity of Demand

 

Unit 3: Theory of Consumers Behavior

Utility
Concepts of Utility
The Law of diminishing marginal utility
Limitation of diminishing  marginal utility
Importance of the law of diminishing marginal utility
The law of maximum satisfaction/ The law of equi-marginal utility/ The law of substitution
Exceptions/ Limitations of the law of substitution
Consumer Surplus
Criticism of Consumers’ Surplus
Importance of concept of Consumers’ Surplus

 

Unit 4: Factors of Production

Factors of Production
Land
Labor
Labor division
Theory of optimum population

Limitations (Criticisms) of Optimum Theory
Capital
Organization

 

Unit 5: Theory of Production

Meaning
Concept of production
Law of variable production
Application of Law of diminishing return especially in agriculture
The Laws of returns to scale

 

Unit 6: Revenue and Cost Curves

Revenue

Meaning
Concept of revenue
Derivation of TR, AR and MR curves under the perfect competition market

Cost

Meaning
Difference between fixed and variable cost
Concept of short run cost
Concept of short-run total cost curves
Derivation of TR, AR and MR curves under monopoly market
Concepts of short run average cost
Marginal Cost (MC)
 Relationship between MC and AC
Long Run Cost
Theory of product pricing
Perfect Competition Market
Monopoly Market

 

Unit 7: Theory of Price and Output Determination

Unit 8: Theory of Factor Pricing

Meaning
Rent

Wage

Interest
Demand for capital
Supply of capital

Profit

 

Unit 9: Money

Barter system
Definition of money
Types of money
Value of money
Quantity theory of money 
Inflation
Deflation
Price index number
Procedure of construction of price index

 

Unit 10: Banking

Meaning
Types of Bank
Role of Bank
Role of Central Bank with special reference to the Nepal Rastra Bank
Functions of commercial banks
Concept of money market
Concept of capital market
Difference between Money and Capital Market

 

Unit 11: Government Finance

Unit 12: International Trade

Meaning of international trade
Role of international trade
Balance of trade
Balance of payment
Free trade
Protectionism
Comparative cost theory of international trade
World trade organization (WTO)
South Asian free trade agreement


Don't be selfish...share it

Find us on Facebook