1. R E E N A K U M A R I
E C O N O M I C S
1 4 1 6 2 0 4 5
B . E D
PROGRAMMED LEARNING
MATERIAL
2. Content instructions
This content basically tells about content related
things
In this 5 questions are their for student knowledge
In questions 4 options are their
3. CONTENT OBJECTIVE-1
Student able to classify the various concepts
Student able to define the types of cost
Student able to classify the cost of production
Student able to explain the concepts
4. CONTENT OBJECTIVE -2
Student able to differentiate between micro
economics and macro economics
Student able to classify the nature of macro
economics
Student able to explain the macro aggregates
Student able to define the characteristics
5. CONCEPTS OF COST OF PRODUCTION AND
REVENUE
Meaning: supply is a function of production cost and
production is a function of production cost because it
depends upon quantity and money.
Concepts: real cost -it is dissatisfaction on the part of
factor of production by entering into the process of
production
opportunity cost-when a factor is used for a particular
use; the other use is left out or the same cannot be used
for other purposes
money cost-it relates with three things i.e. prices paid to
factors of production, level of production, period of time.
6. Types :fixed cost- the cost which does not increase
with an increase in production ,does not decrease in
production
variable cost :the cost which increase with an
increase in production ,decrease with fall in
production
total cost-fixed cost and total cost incurred in the
short run makes total cost.
7. CONTENT -2
MACREO ECONOMICS
Definition: micro-it is a study of individual units or a
group of units i.e consumer,firm,income
Macro –it is a study of national income ,general price
level, domestic production and unemployment
fetures:macro economics as a new economics ,study
of economic activity in its totality ,the study of
homogeneous agregates,diversity of total micro and
macro aggregates, study of basic concepts and sub-
aggregates, analysis of overall aggregates,
interdependence of total aggregates, bird’s eye view
of the economy.
9. Content -1
Dissatisfaction on the part of factor of production by
entering into the process of production is called as
1. Real cost
2. Opportunity cost
3. Money cost
4. Total cost
10. When a factor is used for a particular use, the other
use is left out or the same cannot be used for other
purpose is called as
1. Fixed cost
2. Total cost
3. Variable cost
4. Opportunity cost
11. The cost of production in terms of money is called as
1. Real cost
2. Money cost
3. Fixed cost
4. Variable cost
12. The cost which does not increase in production with
increase in production, does not decrease with a
decrease in production
1. Average fixed cost
2. Average variable cost
3. Fixed cost
4. Marginal cost
13. The cost increase in production , decreases with fall
in production and is zero with zero production is
called as
Money cost
Opportunity cost
Variable cost
Real cost
17. CONTENT -2
It is a study of individual units or a group of units is
called as
1. Micro economics
2. Macro economics
3. National income
4. Price level
18. It is a study of national income ,domestic production
and unemployment is called as
1. Micro economics
2. Industry
3. Macro economics
4. investment
19. Macro economics is
1. The study of homogeneous
2. The study of hetrogeneous
3. The study of firm
4. The study of market
20. Macro economics studies which are quantifiable and
presentable in figures
1. Analysis of overall prices
2. Analysis of overall aggregates
3. Analysis of overall income
4. Analysis of overall economy
21. Macro economics studies sub parts of
1. Overall quantity
2. Overall quality
3. Overall aggregates
4. Overall economy
22. Total micro and macro aggregates are
1. Savings
2. Employment
3. Income
4. diversity