Business Economics 2nd Semester MJPRU BCOM NEP 2025-26 Notes

Unit 1
Introduction, Nature and Scope of Business Economics, Meaning, Kinds VIEW
Famous Economist of India like:
Kautilya Economic Contribution VIEW
Gopal Krishna Gokhale Economic View VIEW
D.R. Gadgil Economic View VIEW
Amartya Sen Economic View VIEW
Montek Singh Ahluwalia Economic VIEW
Law of Demand VIEW
Law of Marginal Diminishing Utility VIEW
Elasticity of Demand, Concept VIEW
Measurement of Elasticity of Demand, Price, Income and Cross Elasticity VIEW
Determinants of Elasticity of Demand VIEW
Importance of Elasticity of Demand VIEW
Unit 2
Theory of Cost, Short Run and Long Run Cost Curve Traditional and Modern Approaches VIEW
Production Function VIEW
Law of Variable Proportion VIEW
Properties Ride Line VIEW
Optimum Factor Combination and Expansion Path VIEW
Return to Scale VIEW
Internal and External Economics and VIEW
Diseconomies of Scale VIEW
Unit 3
Market: Meaning and kinds of Market VIEW
Perfect Competition Meaning, Price and Output Determination VIEW
Monopoly Meaning and Determination of Price Under Monopoly VIEW
Equilibrium of A Firm/Industry VIEW
Monopolistic Competition, Meaning and Characteristics VIEW
Price and Output Determination Under Monopolistic Competition VIEW
Unit 4
Theory of Distribution, Marginal Productivity Theory of Modern Theory VIEW
Wage Theory VIEW
Determination Of Wage Rate Under Perfect Competition and Monopoly VIEW
Rent Concept, Modern Theories of Rent VIEW
Interest Concept and Theories of Interest VIEW
Liquidity Preference Theory VIEW
Modern Theory VIEW
Profit, Concept and Theories of Profit VIEW
Business Cycle, Various Phases and Its Causes VIEW

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