A great handbook to learn the different phenomenon of Economics, this Introductory Microeconomics - Textbook remains an all-time favourite amongst students who are preparing for their Class 12 examinations. Published by NCERT, it closely maintains strict parity with the syllabus that has been laid out by CBSE. The 2013 edition has been published in 2014 and comes in a paperback form.
Following chapters Included in the Textbook
1. Introduction
? A Simple Economy
? Central Problems Of An Economy
? Organisation Of Economic Activities
- The Centrally Planned Economy
- The Market Economy
? Positive And Normative Economics
? Microeconomics And Macroeconomics
? Plan Of The Book
2. Theory Of Consumer Behaviour
? The Consumers Budget
- Budget Set
- Budget Line
- Changes In The Budget Set
? Preferences Of The Consumer
- Monotonic Preferences
- Substitution Between Goods
- Diminishing Rate Of Substitution
- Indifference Curve
- Shape Of The Indifference Curve
- Indifference Map
- Utility
? Optimal Choice Of The Consumer
? Demand
- Demand Curve And The Law Of Demand
- Normal And Inferior Goods
- Substitutes And Complements
- Shifts In The Demand Curve
- Movements Along The Demand Curve And Shifts In The Demand Curve
? Market Demand
? Elasticity Of Demand
- Elasticity Along A Linear Demand Curve
- Factors Determining Price Elasticity Of Demand For A Good
- Elasticity And Expenditure
3. Production And Costs
? Production Function
? The Short Run And The Long Run
? Total Product. Average Product And Marginal Product
- Total Product
- Average Product
- Marginal Product
? The Law Of Diminishing Marginal Product And The Law Of Variable Proportions
