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Some of the main topics for Economics chapter Introduction to Micro Economics (Class 12) along with their details are:
1. Concepts of Micro Economics: This section introduces the basic concepts and tools used in Micro Economics such as demand, supply, consumer equilibrium, producer equilibrium, market equilibrium, elasticity, marginal utility, etc.
2. Central Problems of an Economy: This section explains the three central problems of an economy, namely what to produce, how to produce, and for whom to produce.
3. Theory of Consumer Behaviour: This section explains the concept of consumer behavior, which includes the theory of demand and the law of demand. It also covers the different factors affecting the consumer's choice.
4. Production Function: This section introduces the concept of production function, which is the relationship between the quantity of inputs and the quantity of output. It also explains the different types of production function.
5. Costs of Production: This section discusses the different types of costs of production such as fixed costs, variable costs, total costs, average costs, and marginal costs.
6. Market Structure: This section covers the different types of market structures such as perfect competition, monopolistic competition, oligopoly, and monopoly. It also discusses the characteristics of each market structure.
7. Pricing under Different Market Structures: This section covers the pricing strategies adopted by firms under different market structures.
8. Concept of Revenue: This section explains the concept of revenue, which is the income received by the firm from the sale of its output. It also covers the different types of revenue such as total revenue, average revenue, and marginal revenue.
9. Concept of Profit: This section explains the concept of profit, which is the difference between total revenue and total cost. It also covers the different types of profit such as normal profit, economic profit, and accounting profit.
Overall, the chapter Introduction to Micro Economics in Class 12 is an important foundation for understanding the basics of Micro Economics and lays the groundwork for further studies in the subject.
More Chapters:-
Main topics for Theory of Consumer Behaviour
Main topics for Production and Costs
click here for other chapters.
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