Micro Economics or Fundamental of Economics Notes for FA (Part-I) / FSc (Part-I) / ICs (Part-I) / 1st Year / 11th Class / HSSC-I. Intermediate Level (HSSC-I) students of Federal Board of Intermediate & Secondary Education (FBISE) or any Board of Intermediate & Secondary Education of 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 1st Year / 11th Class / XI / HSSC-I for Federal, Any Intermediate Board
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Chapter Wise Principles of Economics Notes in English
Chapter # 01 – Nature and Scope of Economics
- Meaning of Economics
- Adam Smith Definition or Classical School of Thought
- Prof. Alfred Marshall Definition or Neo-Classical School of Thought
- Prof. Lionel Robbins Definition or Modern School of Thought
- Comparative Study of Marshall And Robbins Definitions 0f Economics
- Micro Economics Definition with Examples
- Macro Economics Definition with Examples
- Economics Problem and Why Scarcity Appear
- Nature and Scope of Economics
- Economics Laws and Its Characteristics
- Deductive Method
- Inductive Method
- Importance of Economics
Chapter # 02 – Theory of Consumer Behaviour
- Utility Definition with examples
- Utility and Usefulness
- Determinant or Characteristics of Utility
- Types of Utility
- Marginal Utility Definition with Formula and Table
- Total Utility Definition with Formula and Table
- Point of Satiety / Point of Saturation
- Relationship between Total Utility and Marginal Utility
- Law of Diminishing Marginal Utility
- Law of Equi-Marginal Utility
Chapter # 03 – Demand
- Introduction of Demand and Its Types
- Composite Demand with Definition, Explanation and Examples
- Cross Demand with Definition, Explanation and Examples
- Joint Demand with Definition, Explanation and Examples
- Derived Demand with Definition, Explanation and Examples
- Individual Demand with Definition, Table and Graph
- Direct Demand Definition, Explanation with Examples
- Market Demand Definition, Explanation with Table and Graph
- Price Demand Definition, Explanation with Table and Graph
- Income Demand Definition Explanation with Example ,Table and Graph
- Difference between Direct Demand and Derived Demand
- Law of Demand, Definition, Explanation with Table and Graph
- Reasons of the Negative Slope of Demand Curve
- Assumption of Law of Demand
- Change in Quantity Demand and Change in Demand
- Change in Quantity Demand (Extension of Demand)
- Change in Quantity Demand (Contraction of Demand)
- Change in Demand (Rise of Demand)
- Change in Demand (Fall of Demand)
- Difference Between Change in Quantity Demand and Change in Demand
- Difference Between Extension in Demand and Rise in Demand
- Difference Between Contraction in Demand and Fall in Demand
- Causes in Change in Demand
- Reasons of Demand Curve Shits Towards Right
- Reasons of Demand Curve Shits Towards Left
- Elasticity and Price Elasticity of Demand
- Unitary Elastic Demand
- Zero Elastic or Perfectly Inelastic Demand
- less than Unitary Elastic Demand
- More or Greater than Unitary Elastic Demand
- Infinite Elasticity or Perfectly Elastic Demand
- Degree or Types of Price Elasticity of Demand
- Measurement of Price Elasticity (Total Expenditure / Outlay Method)
- Measurement of Price Elasticity (Percentage / Proportionate Method)
- Measurement of Price Elasticity (Geometric / Point Method)
- Measurement of Price Elasticity (Mathematical Method – Point Elasticity)
- Measurement of Price Elasticity (Mathematical Method – Arc Elasticity)
- Income Elasticity of Demand for Inferior, Luxury and Normal Goods
- Cross Elasticity of Demand for Substitutes and Complementary or Joint Goods
Chapter # 04 – Supply
- Definition of Supply with example and relationship
- Definition of Stock with example
- Difference between Supply and Stock with example
- Definition of Reserve / Secret / Reservation Price with example
- Types / Kinds of Supply
Chapter # 06 – Production and Factors of Production
- Production
- Factors of Production
- Land
- Labour
- Meaning and Definition of Labour
- Characteristics or Features of Labour
- Factors Effecting Productivity or Efficiency of Labour
- Definition and Kinds or Types or Aspects of Mobility of Labour
- Factors or Elements Determining Mobility of Labour
- Obstacles or Hindrances or Barriers or Hurdles to Mobility of Labour
- Capital
- Definition and Explanation of Capital
- Functions or Purpose of Capital
- Characteristics or Features of Capital
- Forms or Types or Kinds of Capital
- Factors Affecting Productivity or Efficiency of Capital
- Importance or Significance of Capital
- Meaning and Process of Capital Formation
- Sources of Capital Formation ( Internal and External )
- Organization
- Relative Importance of Factors of Production
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