Table of contents
Ø Economics Basics: basic terms and concepts This section explains the following concepts v What is economics? v What is micro economics? v What is macro economics? v What is the scope of macro economics? v Discuss the importance of macro economics. v What is demand? v What is the law of demand? v What is a subsistence economy? v What is a market economy? v What do you mean by commercialization of agriculture? v What do you mean by monopoly power? Ø Demand concepts This section explains the following concepts v What are is demand schedule? v Why does the demand curve slope downwards towards the right? What is the law of diminishing marginal utility? Ø Population, Poverty and Unemployment This section explains the following concepts v What is the theory of demographic transition? v What is unemployment? What are its various forms? v What are the causes of poverty in India? v What steps can be taken to remove poverty from India? ØSavings, investment and capital formation This section explains the following concepts v Define: savings and investment. Discuss the relationship between the two. v Define propensity to save and consume. v What is capital formation? Discuss its importance in economic growth. v What are the components of capital formation? v What is incremental capital output ratio? v What is the problem of capital formation? v What are the various sources of savings? Ø Consumption concepts
This section explains the following concepts v What is consumption function? Discuss its propositions. v Explain: average propensity to consume and marginal propensity to consume. v What are the attributes or properties of consumption function? v Explain the factors affecting consumption function. v Discuss the importance of consumption function. Ø National Income Concepts This section explains the following concepts v What is national income? v What is gross national product (G.N.P.)? v What is net national product (N.N.P.)? v What is national income at factor cost (N.I.FC)? v What is personal income (P.I.)? v What is disposable personal income (D.P.I.)? v Discuss the various of methods of calculating national income. v What are the factors that determine national income? v What are the difficulties in calculation on national income? v What are the uses of national income statistics? |