BCOM103 Business Economics GGSIPU NEP 2025-26 1st Semester Notes

Unit 1 [Book]
Business Economics VIEW
Concepts of Economics VIEW
Meaning, Scope and Significance of Microeconomics VIEW
Basic Problems of an Economy and Application of Economic Theories in Decision Making VIEW
Opportunity Cost principle VIEW
Marginalism and Incrementalism VIEW
Consumer Behaviour:
Law of Diminishing Marginal Utility VIEW
Cardinal utility Approach of Consumer Equilibrium VIEW
Equimarginal utility VIEW
Ordinal utility Approach of Consumer equilibrium VIEW
Unit 2 [Book]
Derivation of Demand Curve by Cardinal Approach VIEW
Derivation of Demand Curve by Ordinal Approach VIEW
Theory of Demand VIEW
Demand Function VIEW
Movement in Demand and Shift in Demand VIEW
Elasticity of demand VIEW
Measurement of Price Elasticity of Demand VIEW
Cross elasticity of Demand VIEW
Income elasticity of Demand VIEW
Demand Forecasting: Meaning, Need, Importance, Approaches and Techniques VIEW
Theory of Supply; Supply Function VIEW
Movement in Supply and Shift in Supply VIEW
Market forces of Demand and Supply and Market equilibrium VIEW
Unit 3 [Book]
Theory of Production: Production Function, Factors of Production VIEW
Short Run Production Function (Law of Variable Proportions) VIEW
Long Run Production Analysis (Isoquants and Iso-cost curves) VIEW
Optimal Combination of inputs for Producer VIEW
Cost of Production, Types of Costs VIEW
Derivation of Short run and Long run Cost curves VIEW
Economies and Diseconomies of Scale VIEW
Market Structures: VIEW
Features of Perfect Competition VIEW
Monopoly VIEW
Monopolistic Competition VIEW
Oligopoly VIEW
Price and Output decisions by a firm under Perfect Competition VIEW
Price and Output decisions by a firm under Monopoly VIEW
Price and Output decisions by a firm under Monopolistic Competition VIEW
Price and Output decisions by a firm under Oligopoly VIEW
Unit 4 [Book]
Meaning, Scope and Significance of Macroeconomics VIEW
Macro Vs Microeconomics VIEW
Macroeconomic Variables VIEW
National Income, Concepts, Definition VIEW
Methods of Measurement of National Income VIEW
Circular Flow of income in Two, Three and Four Sector Economy VIEW
Relation between Leakages and Injections in Circular Flow VIEW
The Keynesian theory of Determination of National Income in Two Sector Model, Three Sector Model VIEW
Consumption Function VIEW
Investment Function VIEW
Marginal efficiency of Investment VIEW

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