This note explains the
following topics: Divisions of Economics, Importance of Economics,
Agricultural Economics Meaning, Definition , Law of Diminishing Marginal
Utility meaning, Definition, Assumption, Limitation, Importance,
Indifference curve approach, Consumer’s Surplus, National Income, Public
Revenue, Public Revenue, Public Expenditure, Inflation, meaning definition,
kind of inflation.
The objective of
this book to familiarize the students with the basic concepts of economics
such as Demand, Supply, Goods, Utility and enable the students to understand
basic theories, Principles and laws relating to Consumption, Production and
Distribution.