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7/28/2019 ME - Book Keywords
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ME -I
7/28/2019 ME - Book Keywords
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Managerial Economics
sl no. unit 1:-introduction to
managerial economics
1 definitions 2
2 prof. Spencer Singleman 2
3 Prof.Hague 2
4 prof.Joel Dean 2
5 Prof,Mansfield 2
6 Mc Nair and Meriam 2
7 nature of managerial
economics
4
8 micro economics 4
9 forecasting 4
10 applied branch of knowledge 5
11 deductive logic 5
12 scientific approach 5
13 scope of managerialeconomics
6
14 demand analysis and
forecasting
6
15 production function 7
16 cost analysis 7
17 inventory management 7
18 advertising 7
19 price system 8
20 resource allocation 8
21 capital budgeting 9
22 subject matter of managerial
economics
9
23 decision making 9
24 forward planning 9
25 significance of managerial
economics
10
26 risk 10
27 economic problems 11
28 source of economic problems 11
29 resource and scarcity 11
30 land labour capital 11
31 factors of production 11
32 entrepreneurship 11
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unit 9:- pricing and output
determination under perfectcompetition
1 concept of market 226
2 national market 226
3 modern view 227
4 classification of market on thebasis of nature of competition
228
5 pure and perfect competition 229
6 pure competition 229
7 large number of buyers andsellers
229
8 homogeneous products 229
9 free entry and free exit of firms 229
10 perfect competition 230
11 perfect knowledge 230
12 no discrimination 230
13 no cost of transportation 230
14 mobility of factors of production 230
15 automatic price mechanism 231
16 demand curve under perfect
competition
232
17 working of price mechanism
under perfect competition
233
18 general rule of price
determination
233
19 change in equilibrium price 234
20 changes in demand 235
21 changes in supply 235
22 changes in demand and supply 236
23 laws of demand supply and price 237
24 Dr.Alfred Marshall'sclassification of market on the
basis of time
238
25 market period 238
26 short- run 239
27 long run 240
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28 equilibrium of firm and industry
under perfect competition
243
29 concept of firm and industry 243
30 concept of equilibrium 243
31 equilibrium of firm 244
32 equilibrium of firm with marginalcost and marginal revenue
method
244
33 equilibrium of firm under perfect
competition
245
34 short run equilibrium 247
35 super normal profit 248
36 normal profit 248
37 losses 248
38 closing down production 249
39 long run equilibrium 250
40 equilibrium of industry 251
unit 10:- imperfect competition
1 monopoly 258
2 pure and perfect monopoly 258
3 impure monopoly 258
4 features of simple or limited
monopoly
258
5 single producer 258
6 no close substitute 258
7 barriers of entry of firms 259
8 demand curve under monopoly 259
9 distinction between perfect
competition and monopoly
260
10 determination of price and output-equilibrium under monopoly
262
11 short run 262
12 normal profit 263
13 supernormal profit 263
14 long run equilibrium under
monopoly
264
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15 price discrimination under
monopoly
266
16 what is price discrimination 266
17 when is price discriminationpossible
266
18 legal sanction 267
19 nature of commodity 267
20 geographical barriers 267
21 ignorance of buyers 267
22 conditions of pricediscrimination
267
23 when is it profitable 268
24 conditions of equilibrium under
price discrimination
268
25 equilibrium under discriminating
monopoly
270
26 dumping 271
27 degrees of price discrimination 271
28 monopolistic competition
features
273
29 fairly large number of firms 273
30 product differentiation 273
31 selling costs 274
32 price differences within a price
range
274
33 elastic demand 274
34 price war 274
35 gift articles 275
36 unfair methods 275
37 determination of price and output
under monopolistic competition
277
38 short run equilibrium under
monopolistic competition
278
39 short run equilibrium under monopolistic competition :profit
278
40 losses under monopolisticcompetition
279
41 long run equilibrium under
monopolistic competition
279
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42 group equilibrium under
monopolistic competition
280
43 the number of sellers is large and
there is free entry and exit of
firms
280
44 comparison of long runequilibrium under perfectcompetition and monopolistic
competition
280
45 monopsony 282
46 oligopoly and duopoly 283
47 features of oligopoly 283
48 few sellers/ produces 283
49 U shaped 283
50 restrictions to entry 283
51 advertisement 284
52 price-control 284
53 demand curve under oligopoly/duopoly
284
54 equilibrium under oligopoly 285
55 kinked demand curve 286
56 miscellaneous issues in
monopolistic competition
289
57 selling costs 289
58 selling cost is U shaped 290
59 ASC decreases 290
60 economies of specialisation 290
61 economies of repetition 290
62 difficulties in trying to influence
the buyers preference
291
63 counter- advertisement by
competitors
291
64 factors influencing selling costs 291
65 type of product 291
66 introduction of new goods 291
67 technology changes 291
68 other factors 291
69 selling costs and the e demand-
average revenue - curve of the
firm
291
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70 effect of selling cost on the price
of the product
292
71 non-price competition 292
72 gift articles 293
73 crossword contest 293
74 wastes of monopolistic
competition
294
75 selling costs 294
76 excess capacity 294
77 unemployment 295
78 cross transport 295
79 lack of specialisation 295
80 inefficiency 295
unit 11:-pricing methods or
pricing practices
1 full cost or cost plus pricing 302
2 inadequacies of cost pricing 303
3 justification of cost plus pricing 303
4 role of cost plus pricing 304
5 for product tailoring 304
6 for refusal pricing 304
7 for monopsony pricing 305
8 for public utility pricing 305
9 pricing of multiple products 305
10 opportunities to produce multiple
products
305
11 excess capacity 306
12 seasonal variation 306
13 cyclical changes 306
14 secular shifts 306
15 vertical integration 306
16 research 307
17 policy of adding products 30718 standards of profitability 307
19 product strategy 308
20 criteria for new products 308
21 policy of dropping products 309
22 cost of multiple product 310
23 jointness of products 310
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24 allocation of variable overhead 310
25 going rate pricing 311
26 marginal cost pricing 312
27 some other approaches 314
28 intuitive pricing 314
29 experimental pricing 314
30 imitative pricing 315
31 some guidelines for fixation 316
32 single product pricing 316
33 pioneering price 316
34 skimming price 316
35 penetration price 316
36 price in maturity 316
37 cyclical price 317
38 backward cost pricing 317
39 refusal pricing 317
40 psychological consideration 317
41 product line pricing 318
42 alternative policies of price
relationship
318
43 price that are proportional to full
cost
318
44 the price that are proportional to
incremental cost
318
45 price with profit marginsproportion al to conversion costs
318
46 prices that produce contribution
margins depend upon the
elasticity of demand of differentmarket segment
318
47 prices that are systematically
related to the stage of the marketand the competitive development
of individual members of the
product line
319
48 factors to be considered inpricing
319
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49 demand relationship in the
product line
319
50 competitive difference 320
51 cost estimates 320
52 some problem of product line
pricing
320
53 pricing product that differ in size 320
54 pricing product that differ inquality
320
55 charm prices 321
56 pricing special design s 321
57 charging different prices at
different times
321
58 pricing repair parts 321
59 pricing in public sector undertaking-PSU
322
60 responsibility for pricing 323
61 features of pricing in publicenterprises
323
62 price policies of publicenterprises in India
324
63 profit as the basis of price policy 324
64 no profit basis 325
65 import parity price 32566 guidelines on pricing policy 325
67 pricing in co-operative societies 326
68 cost based pricing 327
69 subsidized pricing 327
70 demand based pricing 327
71 competitive pricing 327
unit 12:-cost benefit analysis
1 public goods vs. private goods 336
2 product divisibility 336
3 externalities 338
4 market external effects 339
5 non- market- external effects 339
6 marginal cost 340
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7 average cost 340
8 impure public goods 340
9 steps in cost benefit analysis 341
10 identification of a project 341
11 formulation of the project 342
12 appraisal and selection of theproject
342
13 comparison of cash-flow 342
14 selection and implementation 342
15 mid term project evaluation 343
16 justification of the use of cost
benefit analysis
343
17 social costs and benefits 343
18 intangible factors 344
19 overall profitability 344
20 certain uncertainty vs. uncertain
certainty
344
21 social scale of preference 344
22 national industrial policy 345
23 future disposable value 345
24 unforeseen circumstances 345
25 cost benefit analysis: private and
social
346
26 Private vs. social goals 347
27 partial contradiction between
interest
347
28 valuation of costs and benefits 348
29 methods of valuation 349
30 marginal social damage 350
31 marginal private damage 350
32 marginal cost of abatement 350
33 policies to reconcile private and
public costs and benefits
351
34 private action providing
correctives
351
35 negotiation 351
36 liability rules 352
37 government action 352
38 externality taxes 353
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39 cost benefit analysis and overall
resource allocation
354
40 correctives for chock and
disturbances
354
41 speeding up the pace of the
economy
354
42 weeding out economic evils 354
43 structural changes in the
economy
355
44 fine tuning of the economy 355
45 cost benefit considerations at themacro level
355
46 production possibility curve 356
47 advantages of cost -benefitanalysis
357
48 limitations 35849 overall resource allocation -
market mechanism
359
50 assumption of market or price
mechanism
360
51 criticism of market or price
mechanism
360
52 foundations of market system of economy
361
53 individual , the best judge of self
-interest
361
54 consumers sovereignty 362
55 freely fluctuating price
mechanism
362
56 private enterprises 362
57 private profit motive 362
58 institution of private property 363
59 existence of cooperation 363
60 harmony between individual
interests and interests of thecommunity
363
61 no interference by the state-
Laissez Faire
363
unit 13:- macro economic
analysis
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1 J.M Keynes 370
2 General theory of employment,interest and money
370
3 importance of macro-economic
studies
371
4 empirical evidences 371
5 policy -orientation 371
6 national income 371
7 income and employment theoryand monetary theory
371
8 dynamic science 371
9 Keynesian macro-economic
theory
372
10 full employment 373
11 determination causes solution 373
12 basis assumption of the theory 373
13 short run equilibrium 373
14 technology stock of capital 373
15 perfect competition 373
16 increasing costs 373
17 closed economy 374
18 government 374
19 effective demand 374
20 aggregate supply function 374
21 aggregate demand function 374
22 concept of effective demand 374
23 deficient aggregate demand 375
24 aggregate supply function 376
25 aggregate supply schedule 376
26 aggregate demand function 377
27 aggregate demand schedule 378
28 autonomous consumptions 38029 determination of equilibrium
level of output/employment
380
30 effective demand 380
31 cost of production 380
32 revenue 380
33 determination of equilibrium atless than full employment
382
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34 importance of aggregate demand
function
383
35 consumption demand 383
36 investment demand 383
37 fiscal policy measures 383
38 Keynesian remedy to
unemployment: government
intervention
385
39 fiscal policy measures 385
40 consumption function 386
41 investment function 386
42 marginal efficiency of capital 386
43 rate of interest 386
44 liquidity preference 387
45 quantity of money supply 387
46 transactions motive 388
47 precautionary motive 388
48 speculative emotive 388
49 business fluctuations 389
50 definitions of business or trade
cycle
390
51 phases of business cycle 390
52 line of cycle 390
53 prosperity: expansion and peak 392
54 Turning point and recession 393
55 depression and trough 393
56 recovery or revival 395
57 inflation 396
58 Prof. Samuelson 396
59 causes of inflation 397
60 increase in public expenditure 398
61 increase in private expenditure 398
62 increase in foreign demand 398
63 reduction in taxation 399
64 repayment of internal debts 399
65 changes in expectations 399
66 factors from supply side 399
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67 scarcity of factors of production 399
68 bottlenecks 400
69 natural calamities 400
70 hoarding by merchants 400
71 rise in costs 401
72 consequences of inflation 402
73 effects on production 402
74 through investment 402
75 switchover of business 402
76 uncertainty 403
77 change in composition of
production
403
78 poor quality of output 403
79 public unrest 403
80 distortion of price 403
81 effect on distribution 404
82 creditor and debtor 404
83 wage and salary earners 404
84 entrepreneurs as a class 404
85 investors as a class 404
86 farmers 405
87 other consequences 405
88 financial institutions 405
89 foreign trade 40590 price structure 405
91 reduction in developmentexpenditure
405
91 effect on currency 406
92 non -economical effects 406
93 macro policies 407
94 full employment 407
95 economic stabilization 408
96 fiscal policies 408
97 monetary policy 409
unit 14:- government and private
business
1 value added tax 420
2 need for government
intervention
421
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3 shortcomings of market system/
limitations or defect of marketsystem
421
4 inequalities of income and wealth421
5 emergence of monopolies 421
6 competitive monopoly 421
7 failure to provide full
employment
422
8 instability 422
9 wastages of market economy 423
10 overproduction 424
11 underproduction 424
12 indifference to and sacrifice to
social welfare
425
13 poverty in the midst of plenty 425
14 undesirable psychological and
social effects
426
15 exploitation of backward
countries and world rivalry
426
16 causes of rise in price in India 428
17 demand pull factors 428
18 mounting governmentexpenditure
428
19 non plan and plan expenditure 428
20 deficit financing and increase in
money supply
428
21 role of black money 429
22 uncontrolled growth of population
429
23 cost- push factors 429
24 fluctuations in output and supply 430
25 taxation as a factor in rising costs 430
26 administered pricing 430
27 hike in oil prices and global
inflation
430
28 other factors 431
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29 causes of inflationary pressure in
the 90's and after 2000
431
30 higher fiscal deficit 431
31 sharp reserve money 431
32 supply demand imbalances 431
33 price controls in India 432
34 demand management 432
35 fiscal measures 432
36 revenue deficit 432
37 fiscal deficit 432
38 monetary measures 433
39 supply management 434
40 fixation of maximum prices 434
41 the system of dual prices 435
42 increase in supplies of food
grains
435
43 problem of oilseeds and edible
oils
435
44 public distribution system-PDS
and consumer protection
435
45 control over private trade in food
grains
435
46 other relevant measures by
government of India to control
inflation
436
47 direct government role 436
48 administered prices 436
49 the system of dual prices 437
50 support/procurement prices 437
51 public distribution system 439
52 rationale of PDS 439
53 supplies to the public distribution
system
439
54 protection of consumer interests 441
55 countervailing power 441
56 consumer protection Act,1986 441
57 protection from hazardous
commodities
441
58 right to information 441
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59 right to competitive price 441
60 right to be heard 441
61 right to information regarding
protection
442
62 consumer protection Act 442
63 sales of goods act 442
64 Indian contract act 442
65 negotiable instrument act 442
66 banking regulation act 442
67 companies act 442
68 the new industrial policy 1991 444
69 industrial licensing policy 444
70 industrial licensing is compulsory
for
445
71 list of industries to be reserved ofthe public sector
445
72 foreign investment 446
73 foreign technology 446
74 public sector policy 447
75 MRTP Act 448
76 BIFR 448
77 DE-reservation -further
liberalization
448
78 economic liberalization 450
79 the process of disinvestment:
needs and methods
454
80 need for disinvestment 454
81 phased privatization 454
82 professionalism 454
83 reducing deficits 454
84 reallocation of resources 455
85 capital support to plans 455
86 substitute for taxation 455
87 methods of disinvestment 45588 partial transfer of ownership 455
89 total denationalization 456
90 liquidation 456
91 management buy-out 457
92 disinvestment without
privatization
457
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93 methods of implementation 457
94 sale of stocks and allotment 458
95 negotiating joint ownership 458
96 open auction 458
97 informal approach 458
98 pre-planned transfer 458
99 systematic denationalization 459
100 liquidation 459
101 disinvestment of public sectorshareholding-Indian experience
460
102 disinvestment of PSU shares 460
103 IPCL BALCO ITDC 461
104 Indian airlines 462