Chapter 2: Theory of Consumer Behaviour (Utility Approach) 1. Consumer Consumer is an economic agent who buys goods and services to satisfy wants. 2. Utility Meaning: The satisfaction a consumer gets from consuming a good/service. Types of Utility: […]
📘 Class 12 Microeconomics Notes Chapter 1: Introduction 1. What is Microeconomics? Microeconomics is the branch of economics that studies the behaviour of individual economic units – like a consumer, a firm, or an industry. Focus: How decisions […]
📘 Chapter 3: Money and Banking (Detailed Notes) 1. Money: Meaning & Functions Definition (Prof. Crowther): Money is anything that is generally accepted as a medium of exchange and at the same time acts as a measure and […]
macroecnomics chapter 2 National income
📘 Chapter 2: National Income Accounting (Detailed Notes) 1. Introduction The study of National Income Accounting helps us measure the economic performance of a country. It is also called Macroeconomic Accounting. Objective: to know the total production, income, […]
📘 Chapter 1: Introduction (Macroeconomics) 1. What is Economics? Economics is the study of how people and society choose to use scarce resources that have alternative uses, to produce goods and services and to distribute them among different […]