Study of the law of demand, demand schedule and curve, and factors influencing consumer demand in the market

Understanding the law of supply, supply function, and various determinants affecting market supply

Explanation of equilibrium price and quantity determination through interaction of demand and supply forces.

Analysis of extension, contraction, increase, and decrease in demand and supply curves due to market changes.

Overview of elasticity, its meaning, importance, and responsiveness of demand to market changes

Study of responsiveness of demand to price changes, methods of measurement, and practical applications.

Understanding consumer demand changes due to income variation and price changes of related goods

Examination of factors influencing elasticity such as availability of substitutes, necessity, income level, and time period.

Application of elasticity concepts in pricing, production, taxation, and marketing decisions

Introduction to fixed, variable, total, average, and marginal costs along with production inputs

Comparative analysis of cost behavior in short-run and long-run production periods.

Understanding break-even point, contribution analysis, and its significance in profit planning.

Study of production relationships with one variable input and the law of variable proportions

Features, price determination, and equilibrium under perfectly competitive markets

Characteristics, pricing, output decisions, and market power under monopoly markets

Study of product differentiation, selling costs, and competition among firms.

Analysis of interdependent firms, pricing behavior, and competition in oligopolistic markets

Evaluation of pricing methods and strategies adopted under various market conditions

Introduction to GDP, GNP, NNP, personal income, and related national income concepts.

Methods of measuring national income including production, income, and expenditure approaches.

Discussion on practical and conceptual challenges in national income estimation

Understanding the circular flow of income in two-sector, three-sector, and open economy models

Study of consumption behavior and factors influencing consumption expenditure

Analysis of investment concepts, classifications, and determinants influencing investment decisions.

Understanding inflation, price indices, types, causes, and measurement techniques.

Measures to control inflation through monetary and fiscal policies and inflation targeting frameworks.