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Economics Notes

The document outlines key concepts in economics, including definitions, scope, and the distinction between microeconomics and macroeconomics. It discusses important economic principles such as scarcity, opportunity cost, and the central economic problems of production. Additionally, it covers various methods of economic analysis and the necessary resources for industries.

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Muzaffar Khan
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26 views1 page

Economics Notes

The document outlines key concepts in economics, including definitions, scope, and the distinction between microeconomics and macroeconomics. It discusses important economic principles such as scarcity, opportunity cost, and the central economic problems of production. Additionally, it covers various methods of economic analysis and the necessary resources for industries.

Uploaded by

Muzaffar Khan
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Economics Notes

Outline

1. What is Economics?
2. Classical and Neoclassical View of Economics
3. Some Economist View According to Economics (Marshall, Robbins, and
Adim Smith)
4. Comparison between Marshall and Robbins Definition.
5. Scope of Economics
6. Subject Matter of Economics
7. Economics as Positive and Normative Science
8. Economics as Art, Science and Social Science
9. Some Economics Concept:
 Scarcity
 Choice
 Scale of Preference
 Opportunity Cost
10. Central Economic Problem:
 What to Produce?
 How to Produce?
 For Whom to Produce?

11. Microeconomics and Macroeconomics and its importance,


advantages and disadvantages and difference between them.
12. Industries of Goods: Primary, Secondary and Tertiary
13. Deductive and Inductive Method
14. 3M’s Required for any Institute/House/Industry
 Men
 Money
 Machine
15. Laws of Economics based on Generalization, Hypothesis,
Programmed Based and Statement of Tedency.
16. Distribution Channel: Direct Channel and Indirect Channel.

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