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About the book
Section I : Basic Economics 1. Nature and Scope of Economics 1.1 Definition 1.2 Nature and scope of economics 1.3 Micro and macro economics 1.4 Positive and normative economics 1.5 Socialist and mixed economies 2. Demand Analysis 2.1 Utility analysis 2.2 Law of diminishing marginal utility 2.3 Law of equi-marginal utility 2.4 Indifference curves 2.5 Consumers’ equilibrium 2.6 Law of demand 3. Elasticity of Demand 3.1 Introduction 3.2 Meaning of the concept of elasticity 3.3 Price elasticity of demand 3.4 Income elasticity of demand 3.5 Cross - elasticity of demand 3.6 Promotional or advertisement elasticity of demand 4. Production, Cost and Revenue Analysis 4.1 Law of returns 4.2 Cost and revenue concept and their relationship with output 4.3 Economies and diseconomies of scale 5. Theory of Price 5.1 Meaning, features and definition of 'Market' 5.2 Meaning and features of perfect competition 5.3 Meaning and features of monopoly 5.4 Definitions and features of oligopoly 5.5 Monopolistic competition definition, meaning and features 5.6 The concept of equilibrium 5.7 Determination of equilibrium of firm and industry under various ….. 6. National Income 6.1 Concept of national income 6.2 Significant and measurement of national income 7. Money and Credit 7.1 Concept of money and credit 7.2 Quantity theory of money 7.3 Supply of money 7.4 Credit creation of bank 7.5 Functions of central banking and its instruments of credit control 8. Inflation and Deflation 8.1 What is inflation? 8.2 Inflation and deflation 8.3 Inflation and unemployment 8.4 Deflation 8.5 Stagflation 9. International Trade and Balance Payment 9.1 Theory of comparative cost and advantage 9.2 Terms of trade and their determinants 9.3 Concept of rate of exchange 9.4 Balance of trade and balance of payments and their relationship Section II : Business Environment 10. Business Environment 10.1 The concept and relevance of business environment 10.2 Government failure and market failure 10.3 Market guidance Vs. state regulation 11. Indian Economy 11.1 Salient features of Indian economy 11.2 Mixture of market forces and government regulation 11.3 Roles assigned to public and private sectors 11.4 Role of government