Revenues – Total Revenues, Average Revenues, Marginal Revenues and Relationship, and Time Element.Ĥ. The concept of cost – Accounting Cost, Economic Cost, Opportunities Cost, Fixed Cost, Variable Cost, Direct and Indirect Cost, Real Cost, Explicit, Implicit Cost, Money Cost, Total Cost, Average Cost, Marginal Cost, Selling Costs.ģ. Law of supply & Criticism influencing factors of supply.Ģ. Unit – III Theory of cost and Revenue and Marketsġ.
Read More:- B.Com Taxation Reference Books PDF Download 2022.Theories of population, – Malthusian theory of population, Optimum theory of population, Demographic Transition Theory of population and criticism. Isoquant curves, Definition, General properties of isoquant curves, Expansion path internal and external economic and diseconomies of scale, Ridge line.ģ. Production Function – Concept Definition, Types of products, Total Production, Average Production, Marginal production, Law of variable proportions, Assumptions, Limitations and Significance.Ģ.
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Demand forecasting: Meaning, Need, Importance, Methods of demand forecasting. The elasticity of demand – Concept, kinds, definition Measurement of elasticity of demand, factors influencing the elasticity of demand, Importance of elasticity of demand.Ĥ. Indifference Curve – Concept, definition, Definition, Properties, Importance of indifference curve.ģ. Law of Equi-marginal utility, Assumptions Limitations, Importance criticism of cardinal approach.Ģ. Law of demand, Demand determinants, Changes in Demand, Exceptions to the law of demand Geffen‘s paradox. A) Business economics meaning, Scope, and objectives of Business economics, Nature and types of business decisions, Role and responsibilities of a business economist, Role and social responsibility of business & business economist, Microeconomics and macroeconomics definition, scope, Merits, and Demerits.ġ.
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