Class 11 SANDEEP GARG MICRO ECONOMICS
Introduction
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Consumer’s Equilibrium
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3. Demand
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4. Elasticity of Demand
Concept of Elasticity of Demand Demand for a commodity is affected by a number of factors, such as a change…
5. Production Function
Introduction We are aware that both consumers and producers are needed for the smooth functioning of an economy. In the…
6. Cost
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7. Revenue
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8. Producer’s Equilibrium
Meaning of Profit Profit refers to the excess of receipts from the sale of goods over the expenditure incurred on…
9. Supply
Meaning of Supply Supply refers to the quantity of a commodity that a firm is willing and able to offer…
10. Main Market Forms
Meaning of Market – Market refers to the whole region where buyers and sellers of a commodity are in contact…
11. Price Determination and Simple Applications
Introduction The concepts of demand and supply help us to understand the motivations and actions of people in their roles…
