Modern Economic TheoryThis Edition Includes Several New Topics To Make The Coverage More Comprehensive And Contemporary. Various Concepts And Issues Involved In Economic Analysis Have Been Thoroughly Explained And Illustrated With The Help Of Examples Drawn From Our Daily Experience. The Inter-Relationships Between Different Concepts Have Been Suitably Highlighted. The Application Of Economic Tools For Problem Solving Has Been Emphasised. Review Questions And Exercises Have Been Included In Each Chapter To Help Students To Test Their Understanding And Prepare Confidently For Examinations.The Book Would Serve As Excellent Text For B.A., B.Com And Business Administration Students. Candidates Preparing For Various Professional And Competitive Examinations Would Also Find It Very Useful. |
Contents
4 | 32 |
5 | 68 |
6 | 76 |
ELASTICITIES OF DEMAND AND SUPPLY | 133 |
THE THEORY OF CONSUMER DEMAND THE INDIFFERENCE CURVE APPROACH | 145 |
FACTOR OF PRODUCTION AND FACTOR MOBILITY | 232 |
14 | 272 |
THE THEORY OF PRODUCTION LONG RUN ANALYSIS | 290 |
28 | 607 |
29 | 617 |
THE INVESTMENT FUNCTION | 645 |
32 | 667 |
34 | 691 |
35 | 727 |
36 | 736 |
37 | 754 |
19 | 391 |
21 | 465 |
THE LABOUR MARKET AND COLLECTIVE BARGAINING | 489 |
23 | 496 |
24 | 515 |
THEORIES OF PROFITS | 545 |
26 | 562 |
27 | 593 |
38 | 790 |
39 | 805 |
40 | 820 |
41 | 874 |
42 | 890 |
43 | 910 |
ECONOMIC GROWTH AND DEVELOPMENT | 927 |
Common terms and phrases
aggregate analysis average cost behaviour budget line buyers capital CAPSULED NOTE ceteris paribus chapter commodity concept consumer consumption cost curve cost of production demand curve determined earn economic economic rent economists efficiency elasticity of demand employment entry equal example expenditure factor prices factors of production fall firm's fixed important increase indifference curve individual industry inelastic inputs investment isoquant Keynes labour land less level of output loanable funds long-run macroeconomics marginal cost marginal product marginal revenue marginal utility market price measure monopolistic competition monopoly national income oligopolistic oligopoly perfect competition price changes price discrimination price elasticity problem production function profit maximizing purchase quantity demanded rate of interest refers rent returns to scale rise saving sell sellers shift short-run slope supply curve surplus theory total cost total revenue units variable cost variable factor wage rate workers