Central Problems of an Economy

Economy and Types of Economy

Meaning of Microeconomics, Microeconomics and Positive and Normative Economics

Production Possibility Frontier

Opportunity Cost

Production and Production function

Total product and marginal product

Average product, Relationship between Total product & Marginal product and Average product and Marginal product

Law of variable proportion and Stage of production

Numerical of Production function

Cost and its related concept

Total Cost, Total variable cost, Total fixed cost and Marginal cost

Average Cost, Average variable cost and Average fixed cost

Relationship between- AC and MC, AVC and MC, AVC and AC and AFC, MC and TVC

Numerical of Cost

Concept of revenue

Determination of revenue under different form of market

Relationship between TR and MR & AR and MR

Numerical of Revenue

Supply

Factor affecting supply

Law of supply

Change in quantity supply

Change in supply

Elasticity of supply

Introduction of Market and its type

Perfect competition market and its features

Price determination under perfect competition market

Effect on equilibrium when change in demand and supply situation takes place

Concept of price ceiling and price flooring