SOL BA Program 1st Year Economics Study Material and Syllabus In Hindi

7/23/2019 SOL BA Program 1st Year Economics Study Material and Syllabus In Hindi

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I.

II.

1.

2.

3.

4.


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(Central Problems of an Economy)

(interdependent)

(free)

(What to produce)


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(alternative uses) (allocation)

(resource allocation) (preference intensity) (systematic allocation of resources) (according to priority) (production possibilities) (Production Possibilities Curve)

(How to Produce)

(Extensive cultivation) (Intensive cultivation) (Highly Labour Intensive) (Capital Intensive) (substitute)

(For whom to produce)

(Production Possibilities Curve)


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100

80

60

40

20

A

B

C

DE

F

20 40 60 80 100COTTON(INBALES)

WHEAT (IN MILLION TONS)

(Y-axis) (X-axis)


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'B' 'C' 'D' 'E' 'F' 'A' 'F'

'C''F' (Transformed)

'A' 'F' 'A''F'

(Concave)

(Concave Curve)

100

80

60

40

20

A

20 40 60 80 100COTTO

N(INBA

ES)


Y

0 X

GH

I

JF


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100

80

60

40

20

A

20 40 60 80 100COTTON(INBALES)


Y

0 X

GH

I

J

B

C

D

E

F


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(Law of Diminishing Returns)

X Y

(marginal product)


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10

MARGINALOUTPUT

(INMAUNO

S)

Y

X

8

6

4

2

0 1 2 3 4 5 6

ABOUR (NO. OF WORKERS)

(Universal)

(Exceptions)


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(Price Mechanism-Demand and Supply Analysis)

(Barter Systemof Exchange) (Price Mechanism)

(EquilibriumPrice)

(Demand Analysis)

(Perunit of time)


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(Individual or Household Demand) :

(i)

(ii)

(iii) (substitutes) (complements)

(iv)

(Market Demand)

(v) (composition)

(vi)


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(Law of Demand)

(inverse relationship)

(off set) (assumptions)

(Demand Schedule and Demand Curve) :

(i) (ii)

(Demand Schedule and Demand Curve)

(i)


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A 3.00 1

B 2.5 2

C 2.0 3

D 1.50 4

3.00

2.50

2.00

1.50

1.00

0.50

02 3 4

X1

Y

A

B

C

D

Quantity of oranges Demanded(Dozens)

Demandcurve

PriceofOranges

(perdozen)(Rs.)

X- Y- A, B, C D

(Market Demand Schedule and Demand Curve)

A B

A B


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A B A +B3.00 1 2 3

2.50 2 3 5

2.00 3 4 7

1.50 4 5 9

(a)Individual

demand curveof A

3.50

1

2.50

1.50

0.50

02 3 4 5 6

Y

X

A

A

D1

D1

Quantity demanded(Dozens)

Princeperdozen(inRs)

(b)Individual

demand curveof B

Quantity demanded(Dozens)

10

2 3 4 5 6 7 X

Y

B

D2B1

D2

(c)Market Demand

curve

Quantity demanded(Dozens) By A + B

10

2 3 4 5 6 7 8 9 10

A + B

X

Y

D

D1

C

Market demandcurve

A (a) B (b) (c) A (A) B (B) (A+B)

(Horizontal Summation) (Average or Representative)


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(i) (Law of Diminishing Marginal Utility)

(Successive)

(ii)

(iii) (Income effect) : (Income effect)


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(iv) (Substitution effect) :

(Exceptions) :

(scare)

(Goods Carrying Social Prestige)

(Giffen goods) : (Robert Giffen) (Bread) (Total food intake) (direct)


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(i)

40

Y

10

X

30

20

10

0 20 30 40 50

Bread (Loaves)Quantity Demanded

PriceofBread(paise)

Giffen Good

D

D

DD (Inferiorgood)

(Difference Between Extention and

Contraction of Demand and Increase and Decrease in Demand) :

(i)


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0X-Commodity (Units)

Price(Rs.Perdozen)

1 2 3 4

3.00

2.50

2.00

1.50

1.00

0.50

R S

M

P

Q

YD

T

X

Contractionof Demand

Extensionof Demand

DDX OP OQ OS OT (ST) OP OM OS OR (Movement along the same demand curve)

(ii) (Shifts in demand curve)

Y

D2

O R M N

Quantity demanded x commodity (units)

X

P

PriceofX(Rs.) Increasein

demand

DecreaseindemandD

2

D1

D1

D

D


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DD OP OM DD D

1D

1 OP OM ON

DD

D2D2 OP OR

(Supply Analysis)

(Meaning of Supply) :

(Direct relationship)

(Factors Determining the Supply) :

(i)

(ii)

(iii)


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(iv)

(v) (Goals of Producers)

(Law of Supply): (Direct)

(Supply Schedule of a Firm):

(Supply curve of a firm):


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X Y A, B,C D A, B, C D SS

SA

B

C D

SSupply curve

Quantity supplied Ball pens (units)

2.50

2.00

1.50

1.00

0.50

0 4 8 12 16 20 X

R

Priceperball-pen(Rs.)

(Market Supply Schedule and Market Supply Curve): A B

A B (A +B)

1.00 10 11 211.50 14 15 29

2.00 17 18 35

2.50 19 20 39

A B


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(Market Supply Curve): A B

(C)Market Supply

Curve

2.50

2.00

1.50

1.00

0.50

05 10 20 30 40 X

Sm

Sm

Y

Total Quantity supplied

2.50

2.00

1.50

1.00

0.50

05 15 25

S2

S2

Y

X

(B)Supply Curve

of B

Quantity supplied

2.50

2.00

1.50

1.00

0.50

05 10 15 2025 X

Quantity supplied

Y

Price(R

s.)

S1

S1

(A)Supply Curve

of A

(A)A (B) (X (C)

A OM A ON OM+ON=OT (14+15=29) X- (Horizontal axis)

(i) (Change in quantity supplied)


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0

2.50

2.00

1.50

1.00

0.50

5 10 15 20 X

Price(Rs.perdozen)

X Commodity (Units)

Y

P1

P2

P

S

S

M2

M1

M

Extensionof supply

Contractionof supply

MP M1P1 OM OM

1

MP M2P

2 OM OM

2

(ii)

Price(

inRs.)

Y

P

O

S2

S2

S

S

S1

S1

M2

Quantity Supplied (units)

M M1

Increase in

Supply

Decrease inSupply

X SS OP OM OP OM SS S

1S

1


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S1S

1 (OP) OM OM

1

SS S

2S

2 S

2S

2

(OP) OM OM2

(Determination of Equilibrium Price)

(Equilibrium Price)

(Equilibrium Quantity)

DD SS DD SSA AOP OM OP OP

OM


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(Excess Supply) (Unsold)

(Excess Demand) = 8

X

Price(perBallpenRs.)

Y

3.50

3.00

2.50

2.00

1.50

1.00

0.50

05 10 15 20 25 30 35 40Quantity of Ball pens

DEMANDED/SUPPLIED

Equilibriumpoint

Excessdemand

Equilibriumquantity

ExcessSupply

S

S

D

D

M

P A

Price(inRs.)

R1R

R2

D2

DD

1

D1

DD

2

S

S

M2M M

1

O

P1

PP

2

Y

Quantity Demanded and Supplied (units)

X


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(i)

DD SS R

OP OM DD D

1D

1 SS

D1D

1 SSR

1

OP1(R

1M

1) OM

1

DD D2D

2 SS D

2D

2

SSR2 OP

2 R

2M

2)

OM2

(i)

(ii)

(ii)

P2

PP

1

S2 S S

1

S1

SS

2

R2

R

R1

D

D

XO

Y

M2M M1

Quantity Demanded and Supplied (units)

Price(Rs.)

DD SS R OP OM S

1S

1 OP

1

SS S

2S

2

OP2R

2M

2)

OM2 OM


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(Theory of Consumer's Demand):

(Quantitative)

(Utility Analysis) :

(Law of Diminishing Marginal Utility) :

(Marginal Utility)


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(Total Utility)

(4+3=7) (4+3+2=9) (Negative)

(Positive) (Negative)

X Y- X-

L L

(i)

(ii)

(iii)


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Units of Oranges Negative

utility

X

Y

12

10

8

6

4

2

0-1

-2

1 2 3 4 5 6

Points ofsatiety

utility

TU

L

Total utilitycurve

Marginalcurve

NTotalandMarginalUtility

(Assumptions)

(Homogenous)

(Exceptions to the Law):

(i)

(ii)

(iii)


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(Hobbies)

DD Y- Y-


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Y

1.00

0.80

0.60

0.40

0.20

01 2 3 4 5

D

D

X

Units of Oranges

Marginal utility/Demanded curve

Marginalutility/Price(inRs.)

(i) n TU

nTU

n-1

(ii)

(iii)

(Law of Equi-Marginal Utility and Consumer's

Equilibrium): (rational)

X, Y Z


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X Y Z

(MUx) (MUy) (MUz)

X Y Z

X X X Y Y X X Y Z

X 18 + 16 + 14 +11 + 9 + 6 = 74

Y 12 + 10 + 8 + 7 + 6 = 43

Z 11 + 9 + 8 + 6 = 34

= 151

X 7, Y Z 76+43+28=147

X, Y Z


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MUx = MUy = MUz.

X, Y, Z (Px, Py Pz)

(MUx, MUy MUz)

MUx=

Px

6,

1

MUy=

Py

6,

1

MUz=

Pz

6

1

Y

MUx=

Px

MUy=

Py

MUz

Pz

MUX

=MUy

Px,

Py

(i)

(ii)

MUx=

MUy

Px=

Py

(iii) MUx

=MUy

Px

=Py


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(subjective)

(Quantity)

(Price effect)

(Indifference Curve Analysis)

(J.R. Hicks)

(Cardinal utility system) (subjective) (Ordinal utility) (Combinations)


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X Y (X Y (X

Y

X Y

(A)

(B) (C)

(D)

(E)

X- X Y- Y X Y A, B, C, D E A, B, C, D E

(indifferent)

Commodit

yY(units)

Y

A

B

C

D E

Commodity X(units)

25

20

1510

5

01 2 3 4 5

INDIFFERENCECURVE

X

(Assumptions of Indifferent Curve Analysis) :


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(Rationality) :

(Transitivity) : B A

A B B A CB C A

(Diminishing Marginal rate of substitution) : X Y (MRSxy), Y X-

X Y X Y

(MRSxy)

1 25

2 20 1x = 5y3 16 1x = 4y

4 13 1x = 3

5 11 1x = 2y

Y X X Y X Y (MRSxy) 1x = 5y X Y X Y 1x=4y X Y (MRSxy) X Y X (MRSxy =y/x)

X Y X Y X Y X X (Marginal significance) X Y


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(Properties of Indifference Curve) :

(Indifference curve

slopes dapes downward from left to right) : X Y X Y IC X

Y

CommodityY(un

its)

Commodity X(units)

30Y

A

B

C

DE

25

20

15

10

5

01 2 3 4 5

Decrease in Quantity of Y

Increase in Quantity of X

IC

X

(i) (i) (i)X YA (1x+5y) B (2x+10y) A B A B


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(i) (ii) (iii)

Y IC

C

B

A

X

Commodity X(units)

Commodity(units)

20

15

10

5

01 2 3 4

A B C

20

15

10

5

0

1

Y

X

2 3 4

Commodity X(units)

IC

1 2 3 4

20

15

10

5

0

YIC

C

B

A

Commodity X(units)

X

(ii) (X (vertical) (Y (ii) (iii) (Parallel) (ii)A(1x+10y) B(2x+10y)Y X A B

(iii) A(2x+5y) B(2x+10y) X Y A B A B

(Indifference curves are generally convex

to the point of origin) O IC

CommodityY(units)

A

B

C

D

EIC

CONVEX

y

y

y

y x

x

x

x

X

Y

25

20

15

10

5

0

1 2 3 4 5

Commodity X (units)


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X Y X Y

(Concave) (i)

X X Y AA

1=A

1A

2=A

2A

3 BB

1B

1B

2, B

1B

2B

2B

3

X Y X Y

(i) X Y 45 (ii) X Y (ii) 'L' (iii) X Y (90 (Kink)

(i)

(ii)

(iii)

CommoitY(uits)

Commodity X (units)

yxy

x

x

y

CONCAVE

B1

B2

B3

B

A1

A2

A3

A

Y

O X

IC

CommodityY(units)

Commodity X (units)

Y

X

IC

5

4

3

2

1

0 1 2 3 4 5

5

4

3

2

1

01 2 3 4 5

IC2

IC1

Commodity X (units)

C

ommodityY(units)

Y

X

(Two Indifference curves never

interesect or touch each other)


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A

YCommodity(units)

Y

X

IC1IC2

B

C

A

25

20

1513109

5

0 1 2 3 4 5

X Commodity (units)

IC1 A B,X Y

IC2 A CX Y

A=B A=C B=C BX Y CX Y X B C B Y C Y B=C

(Consumer's Equilibrium)

(i)

(ii)

(iii) X Y

(Budget line)

(i) (Scale of Preferences) (Indifference map) :

(Scale of Preferences)


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(Indifference Map)

X Y 1x+25y, 2x+20y, 3x+16y, 4x+13y 5x+11y X Y

X Y

A B C

X Y X Y X Y

A B B A A 1x+18y B 1x+25y X A BY A B A B B II(B) A I(A) C C B B


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C III(C) B II(B)

Y

X

35

30

25

20

15

10

5

0

1 2 3 4 5

CO

MMODITY-(

UNITS)

COMMODITY-X (UNITS)

I(A)

II(B)

III(C)

INDIFFERENCE MAP

O) X Y-

(Preferences)

(ii) (Budget or Price Line) :

X Y


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X Y X X B Y Y

B A B AB X Y C2X+4Y,D 4X+3Y, E 6X+2Y F 8X+1Y

K (2X+2Y) M (7X+3Y)

(X /Y

AB A

1B

1 AB (Shift)

A2B

2

(slope)

OA=

OB

1

1

OA

OB=

2

2

OA

OB

O

Y X X X (OB

1) Y Y

OA AB AB

1 4.21 X

X OB2

Y

5

4

A

C

D

EF

B

0 2 4X Commodity (Units)

Price Line

6 8 10 x

3

2 K

Y-Comm

odity((Units)

1

Y-Commodity((Units)

New PriceLine

(Income Rs 8)

Original PriceLine (Income Rs. 10)

New Price Line(Income Rs. 12)

X Commodity (Units)

1

2

2

4

3

Y

6

4

8

5

10

6

12 X

A1

B1 B1 B1

A2

A


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AB2 Y X

Y X

AB OA 5

=0.5OB 10

X AB1

1

OA 5=0.25

OB 20

OA

OB

BB2

NewPrice Line(Price of X-Rs 1.25)

0

1

2

3

4

5

Y

Original Price Line(Price of X = Rs. 1)

New Price Line(Price of X = 50 P)

2 4 6 8

A

10 12 14 16 18 20

B1

XYCommodity(Units)

X Commodity (Units)

X Y X Y

IC1, IC

2, IC

3, IC

4 IC

5, X Y

X Y

IC1, IC2, IC3, IC4 IC5 AB E, F P E IC

1 F

IC2 P

IC3 F P

P P (Point of tangency)


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X OM Y ON P

(Common)

IC5IC4IC3

IC2

X Commodity (Units)

EquilibriumPosition

1

2

3

4

5

Y-Commodity(Units)

2 X4 6 8 10

BM

A

Y

N

F

P

IC1

0

E

(P)

(i)

X Commodity (Units)

IC1

IC2

X

B

F

P

0

A

Y

Y-Comm

odity(Units)

(i) AB IC1

F F


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AB IC

1

(i) P IC2

F P P IC2

IC2

(i) (ii)

(i)

X Commodity (Units)

ICC

IC2IC1

X0

B B1M1

M

A1

Y

N1N

A

Y-Commodity(Units)

X X Y Y X X OB Y Y OA AB IC

1P P

X OM Y ON (Parallel) A

1B

1


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A1B

1 IC

2P

1

P1 X OM

1 Y ON

1

X Y PP

1 P P

1

(Income consumption curve) (Positive) (Negative) (Inferior good)

X X Y Y AB AB IC

1P

P X OM (AB) A

1B

1 A

1B

1

IC1P

1 P

1 P

1 X

OM1 P X OM

X MM1

P2 X OM

2 X

M1M

2 X

X P,P1 P

2

P

(Real Income)


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Commodity X (Units)

CommodityY(Units

)

(Interior Commodity)

X

M2 M1

P1

P

A

ICC

IC1

A1

A2

Y

0

P2

IC

M1 B1 B12B

(ii) (Price Effect) :

X Y (Y) (X) (Price Effect)

X Y AB AB IC P P X OM X X

OB1 Y Y OA AB

1

AB1 IC

1P

1 P P

1

X OM1 X OM

OM1 X MM

1

P P1 PCC (Price Consumption

Curve) Y X


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CommodityY

Price Effect

N

N1

Y

A

PCC

P1

P

M M1

IC1

B

IC

Commodity X

0 X

B1

Y X

(i) X X X

(ii) (Substitutes)


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P

OM ON X AB AB1

Y (OA),X (OB) OB1

P1 ON

1 OM

1

X OM OM1 X

MM1

AB A

1B

2 IC

1 P

2 A

1B

2

AB X (OM OM

2) AB

1 P

1

A1B

2 P

2 IC

2

P2 X OM

2

AB1P

1

IC1

PP2 P

2 P

1

X X X Y X MM

2 M

2M

1

SubstitutionEffect

B20 B1 XM1BM2M

Income EffectPrice Effect

X-Commodity (Units)

Y

A1

A

N2N1

N

IC1

P1

P2

ICC

PCC

PIC1

IC

IC

Y-Comodity(Units)


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(Price effect)

(Normal Good) (inferior)

(Giffen Good) (Robert Giffen)

(a large proportion of income)

X X- AB IC

1P P

X- OM X AC IC

2P

2 P

2 X

OM2 X OM

OM2 MM2 ED AB ED IC

2P

1 X OM

1

X MM1

P2 X OM

2 M

1M

2

MM1 M

1M

2

MM2 X

MM2


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(Giffen Good)

Income Effect (MM )1Commodity XGiffen Good

CommodityY

Income Effect (MM )2

CX

DB

MM1 M2

S.E(M M )1 2

IC2

IC1

P1A

E

Y

0

P2

P

(Direct) (Giffen's paradox)

(i)

(ii)

(iii)

(Derivation of Demand Curve) :

(Drivation) (Price Consumption Curve)

(i)

(ii)

(iii)

(iv)


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(Traditional demand curve) X Y X Y

X X Y OA X X OB AB IC

1P

X OM X X OC

AC IC2P1 P

1 X OM

1 (24 X P P

1

(PCC) (PCC) X (OA/OB) (OA/OC) (OM) (OM

1)

X- X- Y- X- D D

1X-

OM OM1 D D

1 DD

1

X-

PCC

Quantity of Wheat Demanded (kgs.))

Q4 8 12 16

B M12420 28 32 36 40

CM

P

P1

Y

A

MoneyIncome

(Rs.)

IC2

IC1

X

Quantity of Wheat Demanded (kgs.)

0.25

0.50

0.75

1.00

Y

0 4 8 12 16 20 24 28 32 36

D1

D

40 X

M1M

PriceofWhetperKg

(Rs)

Demandcurve


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(complements) (substitutes)

(Limitations)

(i)

(ii)

(Three Dimensional Diagram) (Algebra) (complementary goods)


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I

I

II

(Absolute changes)


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(Relative change)

III

I

(I)

(II)


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9 13 117 = > 1

8 15 120 = 1

6 20 120 = < 1

5 23 115

II

ekxa h xbZ ek=kk eas ifz r'kr ifjoruZdher eas izfr'kr ifjoruZ


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ekaxh ek=kk eas ifjorZu100

ikz jfa Hkd ekxa dh ek=kk

dher esaifjoruZ

100ikz jfa Hkd dher

dh

(1/20 100 = 5) (100/1000100 =10) 10% 5% =2

e P Q Q P

e =(Q/Q)100

=(P/P)100

Q/Q

P/P

=Q P

Q P/P

=Q P

P Q

Quantity Demanded

Price

A B S

D

R

C

X0

T

Y

AR BD OA OB (Q) AB CD) (P) CR (Q) QA (P) AR

e =Q P

P Q

e =AB AR

CR OA


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=CD AR

CR OA

( AB = CD)

=AS AR

AR OA

RCD RAS CD AS

= )CR AR

=AS

OA

=RS

TR( AR OT AR, OS TS

RS/TRRS T S TR

III

Q PP Q

(+20) Q/P

IV


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V

oLrq dh ekaxh xbZ ek=kk esaifz r'kr ifjorZumiHkksDrkvkas dh vk; eas ifz r'kr ifjoruZ

% 10% (10% 20% = 0.5)

X Y Y X

X

Y

oLrq dh ekaxh xbZ ek=kk eas izfr'kr ifjoruZ

oLrq dh dher esa ifz r'kr ifjoruZ

X Y Y X 20% X 20% 10% = 2) X Y Y X


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II

ifw rZ dh xbZ ek=kk eas izfr'kr ifjoruZdher eas izfr'kr ifjoruZ

1500010000 10000

500 400 400

5000 10000

100 400

1/ 2 1/ 4 2

III

l eL; k% I Q/PxP/Q Q/P P P/Q

Po P

1

o o

o

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OQ 2 2

2

P Q

OQ

3 3

3

P Q

OQ P/Q

PoP1 P/Q P0P1 P/Q P

0P

1 Q/P

P0P

1

Q/P dQ/dP P/Q (dQ/dPxP/Q)


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Price

D

Y

X0

Quantity DemandedQ3

Q1Q2

Q0 D1

P0 P2P3

P1

Q/P=dQ/dP= Y OP

1 OP

2 OP

3

OQ0

Q/P=dQ/dP=oc (infinite) (infinite) X (infinity) OP

0

Quantity Demanded

Price

XQ0

p1

p2

p3

Y D

O

QuantityDemanded

Q0

P0

Q1 Q2 Q3 X

D

O

Y

Price

P/O Q/P dQ/dP (Rectangular hyperbola)


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ABCO, EFHO JKLO ABCO = OC x BC EFHO JKLO FH KL

Quantity Demanded

0 C H L X

Y

A

E

JD1

Price

K

F

B

D

P/Q

Po+P1

2

Qo+Q1

2

P/Q P1+Po

2 1

Q1+Qo 1 1

2

P Po

Q Q

Q

P

1 0

1 0

P P

Q Q

1 01

0 1 1 0

Q Q

P P

P P

Q Q


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P

o=10 P

1=8 Q

o=1000 Q

o=1500

1 01

0 1 1 0

Q Q

P P

P P

Q Q

8 1015001000

10 8 1500 1000

500 18 9

1.82 2500 5

P/Q

Po Q

o P/Q

10

1000

500 10

2.52 1000

P1/Q

1

500 8

4 /3 1.332 1500

P/Q

P/Q P/Q

P

oP

1

Po P

1

P1 P

o

Price

D

Y

X0

Quantity DemandedQ3

Q1Q2

Q0 D1

P0 P2P3

P1

dQ P

dP Q


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dQ

dP

dQ

dP

(reciprocal)

dQ

dP C F

dQ

dP

(Tangent)

Quantity Demanded

Price

A B

D1

F

C

E

X0

D

Y

D D1 C C P/Q

CA

OA D D

1

dQ

dP

EF

CE

C

EF CA

CE OA

1AD CA

CA OA

[CEF CAD1 1

ADEF

CE CA]

=1AD

OA

1CD

CD [CA DO CA, OD

1 DD

1 AD

1/

OA = CD1/DC]


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1CD

CD CCD

1 DD CD

o dk nk;ka Hkkx

o dk ck;ka Hkkx

P/QdQ

dP

DD

1P TR

P DD1 P

PR

PR

Quantity Demanded

Y

Y

D

D1Price

R X

P

D

IV

(infinity)

dQ P

dP Q

DD1 (dP/dQ) (Reciprocal)

(dQ/dP) P/Q (infinity)

P/Q D1 X D

Y D1 e=O D

e=


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D

D1 X

e = 0

e < 1

e = 1

e >1

e =

Quantity Demanded

0

A

B

C

Y

Pric

e

A (e=1) AD

1 AD A D

(e>1) B BD1 BD B A D

1 (eP

1Q/OQ

D1D1 D2D2


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Quantity Demanded

Price

Q1Q1

P1 P2

D2

D1

Y

Q2 D1 D2 X0

P

Quantity Demanded

Price

Q

P1

P2

D1

D2

Y

D1 D2 X

dQ P

dP Q

dQ

dP P/Q P

1

P2 OZ OQ

1P

1 OQ

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2

1 1

1

pQ

OQ

2 2

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P Q

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Quantity Demanded

D2Z

D1

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Q1Q2 D1 D2

Y

Price

0 X

P1 P

2

(Y

PP2 OD

2

2 2

2

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P D

1 1

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P D

PD OP

PD


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DD2P

2

2 2

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P D

P D DD

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PD

PD P

2

P1

P2QOD

1 1

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P D

PD

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P D

P D

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Y

D1

D

P1 P2

D2

P

0

Price

2QD

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2QD

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1QD

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P D

P D

1 1

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P D

P1

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Quantity Demanded

Q0

D1 D2

X

Price

D

Y

P1 P

2 (Y-

(X


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Quantity Demanded

D1

D2

P2

P1

Q0

Y

Price

D X

P2QOD2

2

2 2

P D=

P D

1

1 1

P D=

P D

QD

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2

2 2

P D

P D

P1

1

1 1

P D

P D P

1 P

2

D1D D

2D

P P/Q

dQdP

Q D1

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D1

X0 D2

Quantity Demanded

P

Y

dQ

dP D

1D

1 D

2D

2

P D1D

1 D

2D

2


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II

I

II

Quantity Demanded

Price

D

D

S

P

Xq0

P0

Y

0

S

P OPo Oq

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Oqo

OPo

Quantity Demanded

Price

D

S

Xq1 q0

D1

D1

D

P0P1

Y

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DD D1D

1 OPo Op

1

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q0 q0 q0q1 q10 0 0

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P0 P0Price P0

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D1 D1D

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X X X

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(A) DD

Opo Op1 Oqo (B)P

oS Op

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1

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q0 q10

Price P0

P1

S

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D1D

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DD D1D

1 Op

o Op

1

Oqo Oq

1

(A) (B) (A) Op

o Oq

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1 (B)

Oqo


q0 q1

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Price

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q0q1

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rice

P0

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X

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1 Op

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P0

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Price


P0

q0 X

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(A) (B)

(A) Opo Oq

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Op1 Oq

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Price


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D

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q0

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Price

(A) (B) (C)


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(A) C), Oq

o Oq

1 Op

o B),

DD SS Opo

Oqo

Op1 Oq

2q

1

Op2 q

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4


P1

P0

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Y

X

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q0q2 q4q1q30

Price

III


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Opo Op

1

Op

2

Oq1 Oq

2

q1q2


0

P1

P0

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Y

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q0 q2 q3q1

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Op

o Op

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qoq

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P1

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P0

D

Y

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q0 q1q2

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X

(Support price or floor price),

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1S

1 S

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Op

1 Oq

1

(=p

op

1) (=p

op

2)

pop

3 p

op

1 p

op

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p

op

1/p

op

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Quantity Demanded

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SS DD

Opo Oqo Oq

2 Oq

1 Oq

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1

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Oq

1 q

oq

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2q

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?? OqoxOp

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Price

q0 q1 q2

S1

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CB

A

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Do

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1S

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D2D

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B Op1 Op

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2S

2C Op

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1


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SOL BA Program 1st Year Economics Study Material and Syllabus In Hindi

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Transcript of SOL BA Program 1st Year Economics Study Material and Syllabus In Hindi