Cost Concept 2

At the end of this lesson, the students should be able to understand Cost Concept

Theory Of Cost

At the end of the lesson, the student should be able to understand Theory Of Cost

Theory Of Demand & Supply

At the end of this lesson, the students should be able to understand the Theory Of Demand & Supply

Concept Of Equilibrum

At the end of this lesson, the students should be able to understand the Concept Of Equilibrum

Theory Of Supply

Meanings of demand and supply and market equilibrium.
The factors affecting demand and supply.
Distinguishing between factors causing shift in demand and supply curves, and those causing movements along demand and supply curves.
Drawing of the schedules and curves to explain the changes.
Distinguishing between various types of demand.

Concept of Demand and Supply

Meanings of demand and supply and market equilibrium.
The factors affecting demand and supply.
Factors causing shift in demand and supply curves, and those causing movements along demand and supply curves.
Distinguishing between various types of demand.

Revenue Concepts

Defining revenue.
Distinguishing between the different revenue concepts (total, average, marginal).
Drawing different revenue curves
Explaining the relationship between revenue and production.

Business Organizations

At the end of the lesson, the student should be able to understand Business Organizations

Elementary treatment of fiscal policy

Explain the concept of total, average and marginal utility.
Discuss the principles of utility maximization and diminishing marginal utility.
Explain why the curve is downward sloping