Economics · Microeconomics · B.Com / CA Foundation

Economics Notes

Complete Exam-Ready Study Material

June 2024 Aligned May 2025 Aligned MCQ Ready 8-Mark Answers Diagrams Included Quick Revision
2 Chapters Ready
2 Years Covered
SVG Diagrams Included
Study Material

Chapter Index

All notes are aligned to the June 2024 and May 2025 university examination papers. Each chapter includes definitions, diagrams, numerical examples, key relationships, and a quick revision sheet.

Chapter 01
Theory of Production
Factors of production, production function, short run vs long run, TP / AP / MP, Law of Variable Proportions, three phases, TP–MP and AP–MP diagrams and relationships.
TP · AP · MP 3 Phases LVP Diagrams Short Run
Complete
Chapter 02
Theory of Cost
Explicit vs implicit cost, opportunity cost, TFC / TVC / TC, AFC / AVC / ATC, marginal cost, curve shapes, relationships between all cost curves with diagrams.
TFC · TVC · TC AFC · AVC · ATC MC Rect. Hyperbola U-shaped
Complete
Chapter 03
Theory of Demand
Law of Demand, demand curve, elasticity of demand (point, arc, cross, income), movement vs shift of demand curve, demand determinants.
Law of Demand Elasticity Diagrams
Complete
Chapter 04
Theory of Supply & Market Equilibrium
Law of Supply, supply curve, equilibrium price and quantity, demand-supply interaction, excess demand and excess supply.
Law of Supply Equilibrium Numerical
Pending
Chapter 05
Market Structures
Perfect competition, monopoly, monopolistic competition, oligopoly — features, price determination, profit maximisation conditions, firm behaviour.
Perfect Competition Monopoly Profit Max
Pending
Chapter 06
Project Management & Capital Budgeting
Project life cycle, NPV method, IRR, Payback period, Gantt chart, CPM, PERT, project risks, working capital, liquidity and profitability ratios.
NPV CPM / PERT Gantt Chart Ratios
Pending
Exam Reference

Past Paper Coverage Tracker

Topic June 2024 MCQs May 2025 MCQs Group-B Questions Notes Status
Theory of Production Law of Variable Proportion, AP=MP, Short Run Short-run production, MP of Labour, Returns to Scale 3 stages of production, Return to Scale numerical ✓ Complete
Theory of Cost AFC shape (Rect. Hyperbola), all U-shaped curves AFC falls, AFC = 0?, U-shaped exception (AFC), MC-AC relationship AFC zero question, MC-AC relationship, cost function numerical ✓ Complete
Demand & Supply Law of Demand, elasticity, equilibrium price Law of Demand, inelastic curve, unitary elasticity, movement vs shift Elasticity calculation, equilibrium numerical, demand-supply diagram ⏳ Pending
Market Structures Indian Railway (monopoly), perfect competition, price taker Monopoly sellers, capitalist economy, Indian economy (mixed) Features of perfect competition, merits/demerits of capitalist economy, profit maximisation conditions ⏳ Pending
Project Management Project life cycle, Gantt chart, CPM, payback method PERT, NPV viability, planning phase, working capital NPV numerical, project stages, PERT vs CPM, network diagram, short notes on ratios ⏳ Pending

Economics Notes · B.Com / CA Foundation · Aligned with June 2024 & May 2025 Question Papers