Class 12 Economics in English

 Class 12 Economics  Complete Notes for  NEB

CHAPTER : 1 Basic concepts of Economics and Allocation of Resources

* Introduction to Economics

   Scarcity and choice

  Opportunity Cost

* Production Possibility Curve (PPC)/ Production Possibility Frontier (PPF)

- The Shape of Production Possibility Curve

- The shift in Production Possibility Curve

Allocation of Resource

A. The Problem of Allocation of Resources

B. How to achieve Fuller Utilization or Full Utilization of Resources

C. How to achieve Growth of Resources?

Division of Labour

- Concept of Division of Labour with advantages and disadvantages

- Types of Division of Labour

Specialization

- Advantages of Specialization

- Disadvantages of Specialization

Economic System

- Types of Economy

* Difference between Micro and Macroeconomics

 

 

 

CHAPTER – 2 Market and Revenue Curves

 

Concept of Market

Perfect competition Market

 

- Features/Characteristics of  Perfect Competition Market

Imperfect Competition

Monopoly Market

- Features or Characteristics of Monopoly Market

Monopolistic Competition

- Features or Characteristics of Monopolistic Competition Market

Oligopoly

Total Revenue (TR), Average Revenue (AR), and Marginal Revenue (MR)

 

- Nature of TR, AR, and MR under Perfect Competition

- Nature of TR, AR, and MR under Monopoly Market

Numerical Problems

 

CHAPTER – 3 Cost Curves

Concept of Cost

Types of Cost

Derivation of Short-run Total Cost Curves

Difference between Variable cost and Fixed Cost

Derivation of Short-run Average Cost (AC) Curves

Derivation of Marginal Cost (MC) Curve

Relationship Between AC and MC

Numerical Problems

CHAPTER – 4 Theory of Price and Output Determination

Concept of Firm and Industry

Concept of Equilibrium

- Equilibrium of an Industry under Perfect competition

- Equilibrium of a firm under perfect competition and Monopoly using TR-TC approach

- Equilibrium of a firm under perfect competition and Monopoly using MR-TC approach

- Price and Output Determination Under Perfect Competition in Short run

- Price and Output Determination Under Perfect Competition in the Long run

- Price and Output Determination Under Monopoly in Short run

- Price and Output Determination Under Monopoly in the Long run

Comparison between Perfect Competition and Monopoly

- Similarities between Perfect Competition and Monopoly

- Differences between Perfect Competition and Monopoly

Numerical Problems

CHAPTER – 5 Factor Pricing

Introduction to Factor Pricing

Rent

- Meaning of Rent and Types of Rent

- Contract Rent Vs Economic Rent

- Ricardian/ Classical Theory of Rent

Wages

- Concept of Wages and Types of Wages

- Money Wage Vs Real Wage

- Subsistence theory of Wages

- Wage fund theory of Wages

Interest

- Concept of Interest and Types of Interest

- Gross Interest Vs Net Interest

- Classical/ Real theory of Interest

Profit

- Concept of Profit and Types of Profit

- Gross Profit Vs Net Profit

- Risk Theory of Profit

- Uncertainty Bearing Theory of Profit

 

 

 

CHAPTER – 6 Banking and Monetary Policy

 Introduction to Bank

Origin and Development of Bank

 Role of Banking System in the Economy

Meaning and definition of Bank and its roles and importance

Classification or Types of Banks

CentralBank and its Functions

CommercialBank and its Functions

FinancialMarket (Money Market and Capital Market) With their Features

- Capital Market Vs Money Market

- Monetary Policy

Current Situation/ Status of Commercial Banks and Development Banks in Nepal

CHAPTER – 7 Government Finance

Concept of government Finance

- Scope of Government Finance

- Role/Importance of Government Finance

Differences between Public finance and Private Finance

Concept of Government Revenue

- Sources of Government Revenue

Concept of Government Expenditure

-Importance of Government Expenditure

-Classification of Government Expenditure

Concept of Taxes

- Different Tax Systems

- Direct Taxes

- Indirect Taxes

- Progressive Tax

- Regressive Tax

- Proportional Tax

- Digressive Tax

Qualities or Features of a Good Tax System

Government Borrowing

- Importance of Government Borrowing

- Sources of Government Borrowing

GovernmentBudget

- Types of Budget

- Processof Budget Formulation

- Deficit Financing

CHAPTER – 8 International Trade

Concept and Importance of International Trade

Balance of Trade

Balance of Payment

Exchange Rate

Free Trade and Protectionism

The Comparative Cost Theory of International Trade

Bases of International Trade

Measures to reduce the trade deficit in Nepal

CHAPTER – 9 Poverty, Inequality, Unemployment and Human Resource

Concept of Poverty

- Causes of Poverty

- Features/ Characteristics of Poverty

- Current Situation of Poverty in Nepal

- Measures of Poverty Reduction

Concept of Inequality

- Causes of Inequality

- Measures to Mitigate Inequality

Concept of Unemployment

- Types of Unemployment

- Causes of Unemployment

- Methods to generate Employment Opportunities

Concept of Human Resources

- Role or Importance of Human Resources

- Indicators of Human Development

- Human Development Index (HDI)

- Current situation of the Population in Nepal

CHAPTER – 10 Nepalese Foreign Trade and Foreign Employment

Concept of Nepalese Foreign Trade

Growth of Nepalese Foreign Trade

Composition of Nepalese Foreign Trade

The direction of Foreign Trade in Nepal

Problems of Nepalese Foreign Trade

World Trade Organization (WTO) and South Asian Free Trade Area (SAFTA)

Foreign Employment and Remittance

- Advantages and Disadvantages of Foreign Employment

CHAPTER – 11 Development Planning in Nepal

Meaning and Definition of Development Planning

- Development Planning in Nepal

- Past Development Plans of Nepal in brief

- General Evaluation of Immediate Past Plan of Nepal

- Current 15th Periodic plan of Nepal (2019/20 to 2023/24)

- Process of Plan Formulation in Nepal

CHAPTER – 12 Sustainable Development Goals and Nepal

Concept of Sustainable Development Goals (SDGs) by the United Nations (UN)

No Poverty and Nepal

Zero Starvation and Nepal

Decent Work, Economics Growth and Nepal

Quality Education and Nepal

CHAPTER – 13 Introduction to statistics

Review of Basic Subject of Statistics

Origin and Definition of Statistics

Functions of Statistics

Need and Importance of Statistics

Limitations of Statistics

CHAPTER – 14 Data Collection

Concept of Data Collection

Pre-requisites of data collection

Types of Data

Methods of Collecting Primary data

- Choice of Method

- Problems of Collecting Primary Data

Sources of Secondary Data

- Published sources

- Unpublished sources

- Precautions in the usage of Secondary data

- Problems in Collecting Secondary Data

Techniques of Data Collection

Methods of Sampling

CHAPTER – 15 Measures of Dispersion

Concept of 'Measures of Dispersion'

- Objectives of Measuring Dispersion

- Characteristics for an Ideal Measure of Dispersion

- Absolute and Relative measures of dispersion

- Various methods of Measures of Dispersion

CHAPTER – 16 Index Numbers

Concept of Index Numbers

- Features of Index Numbers

- Importance of Index Numbers

- Types of Index Numbers

Usable Terminologies in Constructing Index Numbers

Methods of Constructing Index Numbers

- Simple/ Unweighted Index Number

- Weighted Index Number

Limitations of Index Numbers

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