Under Maintenance

Sponsor - If you are a game lover then check this out for exciting updates and amazing giveaways provided by PBX SQUAD. Click here to subscribe.

Main Topics for Economics Chapter Market Equilibrium XII


 

Some of the main topics for Economics chapter Market Equilibrium (Class 12) along with their details are:

1. Introduction to Market Equilibrium: The chapter begins by defining market equilibrium and explaining why it is an important concept in economics.

2. Demand and Supply: The chapter explains the concepts of demand and supply and how they interact to determine the equilibrium price and quantity of a product.

3. Determinants of Demand: The chapter discusses the factors that influence the demand for a product, such as the price of related goods, income levels, and consumer tastes and preferences.

4. Determinants of Supply: The chapter discusses the factors that influence the supply of a product, such as production costs, technological advances, and government policies.

5. Changes in Equilibrium: The chapter explains how changes in demand or supply can shift the equilibrium price and quantity of a product and how the market will adjust to reach the new equilibrium.

6. Price Floors and Price Ceilings: The chapter discusses the concepts of price floors and price ceilings and their impact on market equilibrium.

7. Efficiency and Welfare: The chapter explains how market equilibrium leads to allocative efficiency, where resources are allocated to their most valued uses, and how it affects consumer and producer welfare.

8. Market Failures: The chapter discusses the instances when market equilibrium may not lead to efficient outcomes, such as externalities or public goods.

9. Government Intervention: The chapter discusses the role of government in correcting market failures, such as imposing taxes to reduce negative externalities or providing subsidies to encourage positive externalities.

10. International Trade and Equilibrium: The chapter explains how international trade affects the equilibrium price and quantity of a product and the benefits and drawbacks of international trade.

11. Criticisms of Market Equilibrium: The chapter discusses some of the criticisms of the market equilibrium concept and why it may not accurately reflect real-world market conditions.

12. Conclusion: The chapter concludes by summarizing the main points discussed in the chapter and the significance of market equilibrium in understanding the behavior of markets.

More Chapters:-

Main topics for Non-competitive Markets

Main topics for Introduction to Macro Economics

click here for other chapters.