Before giving up an effort just analyze how close you are to the result.
EDUCATION
Economics \
\
Macro and Micro Economics
Scarcity
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
,Trade off and Opportunity cost
Business Investments
GOODS
PRODUCTS
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Economic system \
Capitalist Economy
Mixed economy
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Opportunity cost—A detailed view
0
1
2
3
3
2
1
0
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\
Specialization and Trade
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Demand
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Supply \
Surplus, Shortage and double shift
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Goals of the economy \
Gross Domestic Product (GDP)
Things that are not included in GDP
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Calculating GDP : 2 approaches \
Real and Nominal GDP
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Key Objectives of Planning (India)
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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Central problems in an Economy
Production possibility set
n o i t a c u d E
Volume 1, Issue 1 Volum e 1, Issue 1
December 2018 December 2018
Economics– Terms a Glance Page 14
B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Organization of Economic Activities
Positive and Normative Economics
NEET notes for Botany
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Theory of consumer behavior \
Budget Set
“Follow your passion , that will definitely show the purpose of your life�
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Budget Line
M/p2 P1x1 + p2x2 = M Δx2
Δx1
P1x1 + p2x2 = M amount of goods is equal to income Δx2,Δx1 slopes of the budget, which is less than the income of the consumer.
M/p1
Demand Function
Price and demand are inversely proportional. As the price increase, demand decreases and vice versa. The graphical representation of demand function is called demand curve.
Substitution effect
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Normal and inferior goods
Substitutes and complements
Price elasticity
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E
Production, cost and profit
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Production function \
Short run and Long run
Total product, Average product and marginal product
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Δ
Δ
Law of diminishing Marginal product and the law of variable proportions
TP
AP
MP
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\
Returns to Scale (RTS)
Costs
“After a failure you can α
β
α,β
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choose either depression or further step to goal… but the choice is yours”
B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Short Run Costs
(Δ
Δ
Shapes of short run curves in graph
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Long Run Costs \
Theory of firm under perfect competition
Features of Market
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Price taking
Revenue
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\
Profit π π
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Types of supply curve
Shut Down Point
Calculations in life science
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Normal profit break even point \
Factors determining firm’s supply curve
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Price elasticity of supply
Market equilibrium
Equilibrium, excess demand and excess supply
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\
Wage Determination
Demand Supply shift Shift in demand
Shift in supply
Quality
Price
Leftward
Leftward
Decreases
Unchanged
Rightward
Rightward
Increases
Unchanged
Leftward
Rightward
Unchanged
Decreases
Rightward
Leftward
Unchanged
Increases
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Free entry and exit
Applications of supply and demand
Non competitive market
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Method of Economic analysis \
Theory of consumer behavior
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Theory of marginal utility
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Market structure and pricing \
Marginal productivity theory of distribution.
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Books to prepare for Part c… Available in Amazon
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Foreign Direct Investment, Fiscal policy and Human Resource Development
Public Finance and Budgetary deficit
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2017– previous year 2018—Last year 2019– Present year
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Budget
Income (Receipts)
Revenue income
Capital income
Expenditure
Revenue expenditure
Capital expenditure
Revenue
Capital
Income from income resources
Complete recovered loans
Tax revenue
Disinvested share amount
Non tax revenues
Borrowings both domestic and foreign
Revenue
Capital
Salaries, maintenance
Revenue payment as assets (Toll tax for Share from the public companies in
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\
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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National income \
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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Aggregate demand and aggregate supply \
Price level AD
GDP
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Fiscal policy
Before giving up an effort just analyze how close you are to the result.
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Tax \
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Advertisement Families of Bentham and Hooker’s classification
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Fiscal policy
Population
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Poverty
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Unemployment
Black money
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Economic planning
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Globalization, Liberalization and Privatization
Balance of payments
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Balance of trade
Inflation
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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Business cycle
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
UPSC history notes– Kingdoms‌. Available for purchase on amazon
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RBI and banking in India
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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Current deposit Ratio (cdr)- ratio of money held by the people to their bank deposits. cdr= CU/DD Reverse deposit ratio (Rdr)- banks hold people’s money as a reserve and must pay back when asked by people. The rest of the money are lend by banks as loans to various initiatives. Bank should have a safe fashion of assets and must be able to pay the account holders. Cash Reserve Ratio– It denotes the fraction of deposits that banks must keep with RBI. Statutory Liquid ratio– bank must maintain a fraction in the
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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Financial Market \
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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14 days (intermediate TB) 14 days (Actionable TB) 91 days 182 days 364 days
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
:
Reserve bank of India was Nationalized in 1949 and State bank of India in 1955. As per the Banking Nationalization act of 1969, Regional Rural banks were established in 1975 to take the banking service to the doorstep of the rural areas. Eligibility for opening banks:
Groups in private sector with a record of at least 10 years of experience is eligible.
New banks owned only by a non-cooperative holding company and must be registered with RBI.
Capital requirement of rupees 500 crores
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Tier 1– can absorb losses without a bank being required to cease lending. Tier 2– absorb losses in the event of winding up
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
BEFORE GIVING UP AN EFFORT JUST ANALYZE HOW CLOSE YOU ARE TO THE RESULT.
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Security Market in India
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
Insurance in India
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B E F O R E G I V I N G U P A N E F F O R T J U S T A N A L Y Z E H O W CL O S E Y O U A R E T O T H E R E S U L T .
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