Economics Notes for B.Com Part-I / ADP / ADC / BBA / BS (Commerce, Accounting)

Principle of Economics / Economics Notes for B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT). Students of B.Com Part 1 / B.Com (Part-I) / B.Com (Hons) / ADP / ADC / BS (Accounting and Finance) / BBA / BS (Commerce) / BS (IT) Level of any University recognized by Higher Education Commission (HEC), Islamabad belonging to any province i.e. Punjab, Sindh, KPK, Balochistan and Azad Kashmir and can get benefit from these notes. By studying our notes, we can guarantee you for getting maximum marks in your exams.

Economics Notes for B.Com Part-I / ADP / ADC / BBA / BS (Commerce, Accounting, IT and Finance)

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Chapter Wise MCQ's

Chapter # 02 – Theory of Consumer Behaviour 

Chapter Wise Notes

Chapter # 01 – Nature and Scope of Economics

  1. Meaning of Economics
  2. Adam Smith Definition or Classical School of Thought
  3. Prof. Alfred Marshall Definition or Neo-Classical School of Thought
  4. Prof. Lionel Robbins Definition or Modern School of Thought
  5. Comparative Study of Marshall And Robbins Definitions 0f Economics
  6. Micro Economics Definition  with Examples
  7. Macro Economics Definition with Examples
  8. Economics Problem and Why Scarcity Appear
  9. Nature and Scope of Economics
  10. Economics Laws and Its Characteristics 
  11. Deductive Method
  12. Inductive Method 
  13. Importance of Economics Study or Value of Economics 

Theory of Consumer  Behaviour

  1. Utility Definition with Examples 
  2. Difference between Utility and Usefulness
  3. Determinant / Characteristics of Utility
  4. Types of Utility with Brief Explanation and examples
  5. Marginal Utility Definition with Formula and Example
  6. Total Utility Definition with Formula and Example
  7. Point of Satiety / Point of Saturation
  8. Relationship between Total Utility and Marginal Utility
  9. Law of Diminishing Marginal Utility with Limitation and Importance
  10. Law of Equi-Marginal Utility
  11. Consumer’s Equilibrium under Cardinal approach – One Commodity Model or law of Diminishing Marginal Utility
  12. Consumer’s Equilibrium under Cardinal approach – Two Commodity Model or law of Equi – Marginal Utility

Demand

    1. Introduction of Demand and Its Types
    2. Composite Demand with Definition, Explanation and Examples
    3. Cross Demand with Definition, Explanation and Examples
    4. Joint / Complementary Demand with Definition, Explanation and Examples
    5. Derived Demand with Definition, Explanation and Examples
    6. Individual Demand with Definition, Table and Graph
    7. Direct Demand Definition, Explanation with Examples
    8. Market Demand Definition, Explanation with Table and Graph
    9. Price Demand Definition, Explanation with Table and Graph
    10. Income Demand Definition Explanation with Example ,Table and Graph
    11. Difference between Direct Demand and Derived Demand
    12. Law of Demand, Definition, Explanation with Table and Graph
    13. Reasons of the Negative Slope of Demand Curve
    14. Assumption of Law of Demand 
    15. Change in Quantity Demand and Change in Demand
    16. Change in Quantity Demand (Extension of Demand Definition, Explanation with Table and Graph) 
    17. Change in Quantity Demand (Contraction of Demand Definition, Explanation with Table and Graph)
    18. Change in Demand (Rise of Demand Definition, Explanation with Table and Graph)
    19. Change in Demand (Fall of Demand Definition, Explanation with Table and Graph)
    20. Difference Between Change in Quantity Demand and Change in Demand
    21. Difference Between Extension in Demand and Rise in Demand
    22. Difference Between Contraction in Demand and Fall in Demand
    23. Causes in Change in Demand 
    24. Reasons of Demand Curve Shits Towards Right
    25. Reasons of Demand Curve Shits Towards Left
    26. Elasticity and Price Elasticity of Demand
    27. Degree or Types of Price Elasticity of Demand 
    28. Unitary Elastic Demand 
    29. Zero Elastic or Perfectly Inelastic Demand 
    30. less than Unitary Elastic Demand 
    31. More or Greater than Unitary Elastic Demand
    32. Infinite Elasticity or Perfectly Elastic Demand 

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