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 🔑
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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