Economic Theory Study Materials 2020 – Download Study Notes PDF & Important Questions


Download Economic Theory Study Materials 2020. In this article, we are going to provide the Study Notes for Management Studies. Students of B.Com can download these Study Materials which will be useful for their Exam Preparation. Through this article, we are going to provide the Economic Theory Study Materials, Study Notes, PDFs, Chapters & Topics, Important Questions in this topic and Download Links.  Continue reading the below article for more information regarding the Management Studies Notes.

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Economic Theory Study Materials - Download Unit wise PDF, Chapters and Topics

Economic Theory Study Materials

Name of the Subject Economic Theory
Category Management Studies
Useful for B.Com
Course Type Under Graduation
Article on Study Materials 2020
Study Material Format PDF
Download Other Study Materials Click Here 

Chapters and Topics

Fundamental Problem of Economic System and Basic Concepts

  • Fundamental Problems of Economic Systems
  • Basic Concepts
  • Economic systems

Consumer Behaviour and the Demand Theory

  • Law of Diminishing Marginal Utility and Equimarginal Utility
  • Indifference Curve Analysis
  • Consumer Demand
  • Elasticity of Demand

Theory of Production

  • The Production Function I
  • The Production Function II
  • Law of Supply and Elasticity of Supply
  • Theory of Costs and Costs Curves

Theory of Price

  • Equilibrium Concept and Conditions
  • Perfect Competition
  • Monopoly
  • Monopolistic Competition
  • Oligopoly

Distribution of Income

  • Theory of Distribution
  • Distribution of Income I: Wages and Interest
  • Distribution of Income II: Rent and Profit
  • Inequality of Income

Business Economics Study Notes

Subject  Download Links 
Economic Theory Click Here
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Unit wise PDFs – Economic Theory Study Materials

Here we have mentioned the unit wise PDFs of  Economic Theory subject. Click on the below link to download it :

Units  Download Links 
Fundamental Problem of Economic System and Basic Concepts Download
Consumer Behaviour and the Demand Theory Click Here
Theory of Production Download
Theory of Price Click Here
Distribution of Income Download

Subject to the Universities

This subject will be useful to the students of B.Com. The following university students can also download these materials :

  • University of Calicut
  • ICSI
  • Alagappa University

Subject in the Semesters

Economic Theory subject will be studied by the students in the following semesters of their respective courses :

  • MBA I Semester
  • B.Com III Sem

Important Questions

We have mentioned some of the important questions on Economic Theory subject :

  • What is an economic system? Explain the fundamentals problems of an economy.
  • What are the main characteristics of human wants?
  • Distinguish between positive and normative economics. Which one should be preferred and why?
  • Distinguish between :
    a) Microeconomics and Macroeconomics
    b) Static Economics and Dynamic Economics
  • Distinguish among total utility,  average utility and marginal utility.
  • State the Law of Diminishing Marginal Utility and its limitations.
  • What are the assumptions of indifference curves approach?
  • What do you mean by income consumption curve? Where does it start from and why?
  • Explain the main determinants of demand of a commodity for the market.
  • Distinguish between substitution and income effects of a price rise.
  • Explain the concept of price elasticity of demand, income elasticity of demand and price cross elasticity of demand.
  • Explain some of the uses of price elasticity of demand.
  • Define Production? What is the theory of Production?
  • Distinguish between primary and intermediate inputs.
  • What is meant by returns to scale?
  • Explain the concept of Isoquant and Isocost?
  • What are the types of economies of scale?
  • Define the concept of Marginal cost. What is the relation between average cost and marginal cost?
  • Distinguish between firm and & industry by giving suitable examples. What is the significance of this distinction in the context of price determination’?
  • Define ‘revenue. Explain the relation between MR and AR.
  • Define perfect competition. How is the price determined under perfect competition?
  • What is a monopoly? How is it different from perfect competition.
  • Explain monopoly equilibrium in the long run?
  • Explain the characteristics of monopolistic competition.
  • What is joint profit maximization? How is it sought to be achieved under oligopoly?
  • Define functional distribution and distinguish it from personal distribution.
  • Discuss the concepts of money wage and real wage. How are competitive wages determined?
  • Is Interest a return on capital? How is the interest rate determined?
  • What is meant by income inequality? How is distribution of income different in the less developed countries from that in the developed countries?

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