SYNCING SESSION...

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2. Basic Tools of Economic Analysis +
Scarcity Human Wants Choice 🔑 Opportunity Cost 🔑 Scale of Preference Explanation of the relationship among these concepts 🔑
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3. Basic Tools in Economics+
Meaning of Economic Analysis Tools Importance of Table and Definition Bar Chart and Its Importance Pie Chart and Its Importance Pictogram and Its Importance Histogram and Its Importance 🆕
4. Measures of Central Tendency +
Definition of Central Tendency 🔑 Advantages of Mean 🔑 Disadvantages of Mean 🔑 Advantages of Median 🔑 Disadvantages of Median 🔑 Advantages of Mode 🔑 Disadvantages of Mode 🔑
5. The Price System and Demand+
Meaninng of Price and Price Mechanism 🔑 Types of Price System 🔑 Objectives of Price System 🔑 Definition of Demand 🔑 Law of Demand 🔑 Demand Schedule 🔑 Demand Curve 🔑 Movement Along the Demand Curve 🔑 Shifts in the Demand Curve 🔑 Factors Affecting Demand 🔑
5. Supply and Equilibrium Price+
Definition of Supply 🔑 Law of Supply 🔑 Supply Schedule 🔑 Supply Curve 🔑 Determination of Equilibrium price through demand and supply 🔑
5. Definition of Production ant types+
Types of production (brief) 🔑 Direct Production 🔑 Indirect Production 🔑
5. Others+
Primary, Secondary and Tertiary Procuction FOP - Land and Its Reward FOP - Labour and Its Reward FOP - Capital and Its Reward FOP - Entrepreneurship and Its Reward
5. Division of Labour+
Definition of Division of Labour Advantages of DOL Disadvantages of DOL Limitation of DOL 🔑 Definition of Specialization Importance of Specialization
6. Scale of Production+
Definition of Scale of Production 🔑 Internal and External Economies of Scale 🔑 Internal and External diseconomies of Scale 🔑 Limitations of Scale of Production 🔑
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