Introductory Microeconomic Theory: A Texbook for Class XII Paperback – 24 Feb 2009
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Introductory Microeconomic Theory: A Textbook for Class XII is a comprehensive textbook that completely covers the latest CBSE syllabus. The book helps students understand basic microeconomic principles through in-depth explanations of the concepts and simple, everyday examples. Drawing on the theory of multiple intelligences, this second edition of the book provides multiple enjoyable pathways to learning the principles and concepts in economics. Key Features * In-text activities to develop higher order thinking skills * Diagrams to facilitate visual learning * Tables to illustrate concepts learnt * Solved examples to provide guidance for tackling problems * Reference material to provide extra information * Points to Remember to facilitate quick revision * Exercises to encourage active learning * Answer key to aid in preparation for examinations Contents Preface CBSE Syllabus 1. Introduction to Economics Positive vs Normative Analysis Microeconomics vs Macroeconomics Basic Tools used in Economics 2. Economic Problems Basic Economic Problem Central Problems of an Economy Solution of the Central Problems in Different Economies Other Problems of an Economy Production Possibility Frontier 3. Consumers Equilibrium Basic Concepts The Law of Diminishing Marginal Utility Consumer's Equilibrium under Utility Approach - Single Commodity Case Consumer's Equilibrium under Utility Approach - Two Commodities Case Indifference Curve Approach 4. Demand Basic Concepts Determinants of Individual Demand Demand Function Market Demand Movement vs. Shift of the Demand Curve Shape of the Demand Curve Exceptions to the Law of Demand 5. Elasticity of Demand Different Demand Curves have Different Elasticities Degrees of Elasticity Measures for Calculating Elasticity of Demand Relationship between Price Elasticity and Expenditure Factors Influencing Elasticity of Demand Importance of Elasticity of Demand 6. Theory of Production What is Production? Production Function Basic Concepts Relatio
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