8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

1/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

Iklkub Mklc ) Dc{hlo

KLOK@L CEHLHG[ 0;3>'0;;>

P0, Ociklc ` ~m`l,

@luqct6 @ ~m`l u~cmmu hs bhq bc tcuhstecu hi ` l`khl ubhsmo dc ~s h suc, K

ubhsmo b`yc uhgc aclct`m ah`mu `u qcmm `u u~cekike hdfcekycu qbkeb `tc h dc

`ebkcyco qkbkl ` u~cekikco ~ctkho hi kgc,

P4, Qb{ oko Klok` h~ iht ~m`llkla8

@luqct6 @ bc kgc hi kloc~cloclec bc Klok`l cehlhg{ q`u kl ku qhtu u`ac,

_bc AO^- L`khl`m `lo ^ct E`~k` klehgc q`u yct{ mhq `lo bc slcg~mh{gcl q`u

yct{ bkab, _bc Klosutk`m athqb q`u klukalkike`l- cycl bc @atkesmst`m Uceht q`u

lh ohkla qcmm, _bc tcuhstecu qctc yct{ mkgkco, Uh bc mc`octu b`o h g`jc ` ~m`l

h klkk`c ` ~thecuu hi ocycmh~gcl qbkeb qhsmo t`kuc bc mkykla u`lo`tou `lo h~cl

hs h bc ~ch~mc lcq h~~htslkkcu iht ` tkebct `lo ghtc y`tkco mkic,

P5, Qb{ ubhsmo ~m`lu b`yc ah`mu8

@luqct6 Uklec bc tcuhstecu `tc mkgkco uh hlc e`l lh c`eb `lo cyct{ hdfcekyc kl

hlc ah, Hlc lccou h ikr uhgc ah`mu `lo ~m`l h `ebkcyc k ~tkhtk{ qkuc kl ` u~cekike

~ctkho hi kgc, @ ~m`l ubhsmo b`yc uhgc aclct`m ah`mu `u qcmm `u u~cekike ah`mu qbkeb

`tc h dc `ebkcyco qkbkl ` u~cekikco ~ctkho hi kgc,

P?, Qb` `tc gkt`emc uccou8

@luqct6 _bc bkab {kcmokla y`tkc{ "B[Y+ uccou `tc e`mmco bc gkt`emc uccou, K

kletc`uco bc ~thosekhl hi ihho at`klu ukalkike`lm{,

P3, Qb` ku g`tjc`dmc ust~msu8

@luqct6 _bc i`tgctu jcc~ bc `atkesmst`m ~thosec iht bckt hql ehlusg~khl iktu

`lo ki bctc ku `l{ ust~msu bc{ ucmm k kl bc g`tjc, _bc ~htkhl hi `atkesmst`m

~thosec qbkeb ku h dc uhmo kl bc g`tjc d{ bc i`tgctu ku e`mmco bc g`tjc`dmc

ust~msu,

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

2/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

P9, Cr~m`kl bc lcco `lo {~c hi m`lo tcihtgu kg~mcgclco kl bc

`atkesmst`m uceht,

@luqct6 @ bc kgc hi kloc~cloclec- bc m`lo clstc u{ucg q`u eb`t`ectkvco d{

klctgcok`tkcu e`mmco v`gklo`tu- f`akto`tu ce, qbh gctcm{ ehmmceco tcl ithg bc

`es`m kmmct hi bc uhkm qkbhs ehltkdskla hq`tou kg~thycgclu hl bc i`tg, _bku

ocghky`co bc `es`m kmmct `lo bc ~thosekyk{ q`u yct{ mhq, _bctc q`u `l stacl

lcco hi m`lo tcihtg ~hmke{, _bc iktu ~hmke{ qbkeb q`u klthoseco d{ bc ahyctlgcl

q`u bc ~hmke{ hi m`lo h bc kmmct- qbkeb q`u d`uco hl bc koc` b` bc esmky`htu

qkmm `jc ghtc klctcu- bc{ qkmm b`yc ghtc kleclkyc kl kletc`ukla hs~s ki bc{ `tc

Iklkub Mklc ) Dc{hlo

bc hqlctu hi bc m`lo, _bku ku dce`suc hqlctubk~ hi m`lo cl`dmcu bc kmmct h g`jc

~thik ithg bc kletc`uco hs~s,

M`lo eckmkla q`u `lhbct ~hmke{ h ~thghc cpsk{ kl bc `atkesmst`m uceht, _bku

gc`lu ikrkla bc g`rkgsg ukvc hi m`lo qbkeb ehsmo dc hqlco d{ `l klokykos`m, _bc

~st~huc hi m`lo eckmkla q`u h tcosec bc ehleclt`khl hi m`lo hqlctubk~ kl ` icq

b`lou,

P1, Qb` ku Atccl Tcyhmskhl8 Qb{ q`u k kg~mcgclco `lo bhq oko k

dclcik bc i`tgctu8 Cr~m`kl kl dtkci,

@luqct6 _bc ctg Atccl Tcyhmskhl tcictu h bc m`tac kletc`uc kl ~thosekhl hi

ihho at`klu tcusmkla ithg bc suc hi bkab {kcmokla y`tkc{ "B[Y+ uccou cu~cek`mm{ iht

qbc` `lo tkec,

_bc suc hi bcuc uccou tcpsktco bc suc hi ictkmkvct `lo ~cukekoc kl bc ehttce

ps`lkkcu `u qcmm `u tcasm`t us~~m{ hi q`ct,

K q`u kg~mcgclco dce`suc kloc~cloclec- dhs 13# hi bc ehslt{u

~h~sm`khl q`u oc~clocl hl `atkesmstc, Ds bc ~thosekyk{ kl bc `atkesmst`m

uceht q`u yct{ mhq dce`suc hi bc suc hi hmo ceblhmha{ `lo bc `duclec hi

tcpsktco klit`utsestc iht bc y`u g`fhtk{ hi i`tgctu, Klok`u atkesmstc yk`mm{

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

3/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

oc~clou hl bc ghluhhl `lo ki ghluhhl icmm ubht bc i`tgctu qctc kl thsdmc

slmcuu bc{ b`o `eecuu h kttka`khl i`ekmkkcu qbkeb yct{ icq b`o,

D{ bc suc hi B[Y uccou bc ~thosekyk{ hi ihho at`klu kletc`uco tcg`tj`dm{ `lo `

ahho ~th~htkhl hi bc tkec `lo qbc` ~thoseco ostkla bc atccl tcyhmskhl ~ctkho

"`y`km`dmc `u g`tjcco ust~msu+ q`u uhmo d{ bc i`tgctu kl bc g`tjc,

P2, Cr~m`kl athqb qkb cpsk{ u ~m`llkla hdfcekyc,

@luqct6 Hlm{ athqb hi bc ehslt{ e`l lh kg~thyc bc jklo hi mkic qbkeb ~ch~mc

`tc mkykla, @ ehslt{ e`l b`yc bkab athqb: bc ghu ghoctl ceblhmha{ ocycmh~co

kl bc ehslt{ kucmi- `lo `muh b`u ghu hi ku ~ch~mc mkykla kl ~hyct{, K ku kg~ht`l

h klustc b` bc dclciku hi cehlhgke ~thu~ctk{ tc`eb bc ~hht ucekhlu `u qcmm

kluc`o hi dckla clfh{co hlm{ d{ bc tkeb, Uh- kl `ookkhl h athqb- cpsk{ ku `muh

kg~ht`l6 cyct{ Klok`l ubhsmo dc `dmc h gcc bku ht bct d`uke lccou useb `u ihho-

` ocecl bhsuc- cose`khl `lo bc`mb e`tc `lo klcps`mk{ kl bc okutkdskhl hi qc`mb

ubhsmo dc tcoseco, _bku ubhsmo dc hst ~m`llkla hdfcekyc,

P;, Ohcu ghoctlkv`khl `u ` ~m`llkla hdfcekyc etc`c ehlt`okekhl kl bc

mkab hi cg~mh{gcl aclct`khl8 Cr~m`kl,

@luqct6 _bku ku bc lca`kyc bkljkla b` ghoctlkv`khl `iiceu `oyctucm{ bc

cg~mh{gcl aclct`khl ~thecuu, _h em`tki{ bku ghtc qc lcco h sloctu`lo qb`

ghoctlkv`khl ku, D{ ghoctlkv`khl qc gc`l `oh~khl hi lcq ceblhmha{ h kletc`uc

bc ~thosekhl hi ahhou `lo uctykecu, Iht cr`g~mc- ` i`tgct e`l kletc`uc bc hs~s

hl bc i`tg d{ sukla lcq ucco y`tkckcu kluc`o hi sukla bc hmo hlcu, Ukgkm`tm{- `

i`eht{ e`l kletc`uc hs~s d{ sukla ` lcq {~c hi g`ebklc, _bku ohcu lh es ohql

bc cg~mh{gcl aclct`khl h~~htslk{ t`bct bku i`ekmk`c bc g`l~hqct kl bckt

Iklkub Mklc ) Dc{hlo

qhtju, Hlm{ bkla qc lcco h t`kl hst bsg`l tcuhstecu, _bc cehlhg{ lccoco bc

bsg`l tcuhstecu `lo k qkmm lcco k, _bc hlm{ okiictclec qkb ghoctlkv`khl b` lhq

k lccou ghtc ujkmmco m`dshtu b`l bc slujkmmco hlc, Qc lcco gcl(qhgcl h tsl bc

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

4/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

g`ebklcu,

_bc hbct kg~ht`l bkla b` bc ghoctlkv`khl ohcu lh tcict hlm{ h bc suc hi

lcq ceblhmha{ ds `muh h eb`lacu kl uhek`m hsmhhj useb `u bc tcehalkkhl b`

qhgcl ubhsmo b`yc bc u`gc tkabu `u gcl,

_bctcihtc bku ku qthla h u`{ b` ghoctlkv`khl `u ` ~m`llkla hdfcekyc etc`c

ehlt`okekhl kl bc mkab hi cg~mh{gcl aclct`khl,

P0>, Qb{ q`u k lcecuu`t{ iht ` ocycmh~kla ehslt{ mkjc Klok` h ihmmhq ucmitcmk`lec `u ` ~m`llkla

hdfcekyc8

@luqct6 K q`u lcecuu`t{ iht ` ocycmh~kla ehslt{ mkjc Klok` h ihmmhq ucmi' tcmk`lec

`u ` ~m`llkla hdfcekyc, Qbcl qc qhl hst itccohg bc ~m`llctu hi hst ehslt{

ehlukoctco k ` lcecuuk{ kl htoct h tcosec hst oc~cloclec hl ihtckal ehsltkcu-

cu~cek`mm{ iht ihho, Istbct- k q`u ic`tco b` oc~cloclec hl kg~htco ihho

us~~mkcu- ihtckal ceblhmha{ lo ihtckal e`~k`m g`{ g`jc Klok`u uhyctckal{

ysmlct`dmc h ihtckal klctictclec kl hst ~hmkekcu,

_bctcihtc bc iktu ucycl ikyc {c`t ~m`lu a`yc kg~ht`lec h ucmi'tcmk`lec qbkeb

gc`lu `yhkokla kg~htu hi bhuc ahhou qbkeb ehsmo dc ~thoseco kl Klok` kucmi,

P00, Qb` ku uceht`m ehg~hukkhl hi `l cehlhg{8 Ku k lcecuu`t{ b` bc

uctykec uceht ubhsmo ehltkdsc g`rkgsg h AO^ hi `l cehlhg{8

Ehggcl,

@luqct6 _bc AO^ hi ` ehslt{ ku octkyco ithg bc okiictcl ucehtu hi bc cehlhg{-

l`gcm{ bc `atkesmst`m uceht- bc klosutk`m uceht `lo bc uctykec uceht, _bc

ehltkdskhl g`oc d{ c`eb hi bcuc ucehtu g`jcu s~ bc utsest`m(uceht`m

ehg~hukkhl hi bc cehlhg{,

Sus`mm{- qkb ocycmh~gcl- bc ub`tc hi `atkesmstc ocemklcu `lo bc ub`tc hi

klosut{ dcehgcu ohgkl`l, @ bkabct mcycmu hi ocycmh~gcl- bc uctykec uceht

ehltkdscu ghtc h bc AO^ b`l bc hbct qh ucehtu, Kl Klok`- bc ub`tc hi

`atkesmstc kl bc AO^ q`u ghtc b`l 3>#' `u qc qhsmo cr~ce iht ` ~hht ehslt{,

Ds d{ 0;;> bc ub`tc hi bc uctykec uceht q`u ?>,3;#- ghtc b`l b` hi

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

5/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

`atkesmstc ht klosut{- mkjc qb` qc iklo kl ocycmh~co l`khlu, _bku kletc`uco istbct

kl bc ~hu 0;;0 ~ctkho,

UCE_HT 0;3>'30"#

ehltkdskhl kl AO^+

0;;>';0 "#

ehltkdskhl kl AO^+

@atkesmstc 3;,> 5?,;

Klosut{ 05,> 4?,9

Uctykecu 42,> ?>,3

Iklkub Mklc ) Dc{hlo

P04, Qb{ q`u ~sdmke uceht akycl ` mc`okla thmc kl klosutk`m ocycmh~gcl

ostkla bc ~m`llkla ~ctkho8

@luqct6 @ bc kgc hi kloc~cloclec- Klok`l klosutk`mku oko lh b`yc bc e`~k`m h

sloct`jc klycugcl h klosutk`m yclstcu tcpsktco iht bc ocycmh~gcl hi hst

cehlhg{: lht q`u bc g`tjc dka clhsab h clehst`ac klosutk`mku h sloct`jc

g`fht ~thfceu cycl ki bc{ b`o bc e`~k`m h oh uh, K ku ~tklek~`mm{ iht bcuc tc`uhlu

b` bc u`c b`o h ~m`{ `l crclukyc thmc kl ~thghkla bc klosutk`m uceht, Kl

`ookkhl- bc ocekukhl h ocycmh~ bc Klok`l cehlhg{ hl uhek`mku mklcu mco h bc

~hmke{ hi bc u`c ehlthmmkla bc ehgg`lokla bckabu hi bc cehlhg{,

P05, Cr~m`kl bc u`cgcl b` atccl tcyhmskhl cl`dmco bc ahyctlgcl

h ~thestc usiikekcl ihho at`klu h dskmo ku uheju b` ehsmo dc suco ostkla

kgcu hi ubht`ac,

@luqct6 Qkb bc suc hi Bkab [kcmokla Y`tkc{ "B[Y+ uccou bc i`tgctu qctc `dmc h

~thosec m`tac ps`lk{ hi ihho at`klu qbkeb qctc i`t ghtc b`l bckt ucmi ehlusg`dmc

tcpsktcgclu, _bhuc ust~msu ps`lkkcu qctc ~steb`uco d{ bc ahyctlgcl h

g`kl`kl bc dsiict uhej h dc suco ` kgcu hi ihho ubht`ac osc h l`st`m

e`m`gkkcu ht osc h q`t, _bctcihtc bc atccl tcyhmskhl cl`dmco bc ahyctlgcl h

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

6/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

~thestc usiikekcl ihho at`klu h dskmo ku uheju b` ehsmo dc suco ostkla kgcu hi

ubht`ac,

P0?, Qbkmc usdukokcu clehst`ac i`tgctu h suc lcq ceblhmha{- bc{ `tc `

bsac dstocl hl ahyctlgcl ikl`lecu, Okuesuu bc sucismlcuu hi usdukokcu kl

bc mkab hi bku i`e,

@luqct6 @l{ lcq ceblhmha{ qkmm dc mhhjco s~hl `u dckla tkuj{ d{ i`tgctu,

Usdukokcu qctc- bctcihtc- lccoco h clehst`ac i`tgctu h cu bc lcq ceblhmha{,

Uhgc cehlhgkuu dcmkcyc b` hlec bc ceblhmha{ ku ihslo ~thik`dmc `lo ku qkocm{

`oh~co- usdukokcu ubhsmo dc ~b`uco hs uklec bckt ~st~huc b`u dccl uctyco,

Istbct- usdukokcu `tc gc`l h dclcik bc i`tgctu ds ` usdu`lk`m `ghsl hi

ictkmkvct usduko{ `muh dclciku bc ictkmkvct klosut{: `lo `ghla i`tgctu- bc usduko{

m`tacm{ dclciku bc i`tgctu kl bc ghtc ~thu~cthsu tcakhlu, _bctcihtc- k ku `tasco

b` bctc ku lh e`uc iht ehlklskla qkb ictkmkvct usdukokcu: k ohcu lh dclcik bc

`tac aths~ lo k ku ` bsac dstocl hl bc ahyctlgclu ikl`lecu,

Hl bc hbct b`lo- uhgc dcmkcyc b` bc ahyctlgcl ubhsmo ehlklsc qkb

`atkesmst`m usdukokcu dce`suc i`tgkla kl Klok` ehlklscu h dc ` tkuj{ dsuklcuu, Ghu

i`tgctu `tc yct{ ~hht `lo bc{ qkmm lh dc `dmc h `iihto bc tcpsktco kl~su qkbhs

usdukokcu, Cmkgkl`kla usdukokcu qkmm kletc`uc bc klcps`mk{ dcqccl tkeb `lo ~hht

i`tgct `lo ykhm`c bc ah`m hi cpsk{, _bcuc cr~ctu `tasc b` ki usdukokcu `tc

m`tacm{ dclcikkla bc ictkmkvct klosut{ `lo dka i`tgctu- bc ehttce ~hmke{ ku lh

`dhmkub usdukokcu ds h `jc uc~u h klustc b` hlm{ bc ~hht i`tgctu clfh{ bc

dclciku,

Iklkub Mklc ) Dc{hlo

P03, Qb{ ocu~kc bc kg~mcgcl`khl hi atccl tcyhmskhl- 93# hi hst

~h~sm`khl ehlklsco h dc cla`aco kl bc `atkesmstc uceht kmm 0;;>8

@luqct6 Kl Klok`- dcqccl 0;3> `lo 0;;>- bc ~th~htkhl AO^ ehltkdsco d{

`atkesmstc ocemklco ukalkike`lm{ ds lh bc ~h~sm`khl oc~clokla hl k "91,3# kl

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

7/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

0;3> h 9?,;# d{ 0;;>+, _bc `atkesmst`m hs~s ehsmo b`yc athql qkb gseb mcuu

~ch~mc qhtjkla kl bc uceht, _bku ku dce`suc bc klosutk`m uceht `lo bc uctykec

uceht oko lh `duhtd bc ~ch~mc qhtjkla kl bc `atkesmst`m uceht, G`l{ cehlhgkuu

e`mm bku `l kg~ht`l i`kmstc hi hst ~hmkekcu ihmmhqco ostkla 0;3>'0;;>,

P09, _bhsab ~sdmke uceht ku yct{ cuuclk`m iht klosutkcu- g`l{ ~sdmke

uceht sloct`jklau klest bsac mhuucu `lo `tc ` ot`kl hl bc cehlhg{u

tcuhstecu, Okuesuu bc sucismlcuu hi ~sdmke uceht sloct`jklau kl bc mkab

hi bku i`e,

@luqct6 Kl u~kc hi bc ehltkdskhl g`oc d{ bc ~sdmke uceht h bc athqb hi bc

Klok`l cehlhg{- uhgc cehlhgkuu `tc etkke`m hi bc ~ctihtg`lec hi g`l{ ~sdmke

uceht clct~tkucu, Klkk`mm{ ~sdmke uceht q`u tcpsktco kl ` dka q`{, K ku lhq qkocm{

bcmo b` u`c clct~tkucu ehlklsco h ~thosec ect`kl ahhou `lo uctykecu "hicl

ghlh~hmkvkla bcg+ `mbhsab bku q`u lh mhlact tcpsktco, _bc ~thdmcg ku b` lh

okuklekhl q`u g`oc dcqccl "k+ qb` bc ~sdmke uceht `mhlc e`l oh `lo "kk+ qb`

bc ~tky`c uceht e`l `muh oh, Iht cr`g~mc- cycl lhq hlm{ bc ~sdke uceht e`l

us~~m{ l`khl`m ocicluc `lo cycl bhsab bc ~tky`c uceht e`l g`l`ac bhcmu qcmm-

{c- bc ahyctlgcl `muh tslu bhcmu, _bku b`u mco uhgc uebhm`tu h `tasc b` bc

u`c ubhsmo ac hs hi `tc`u qbkeb bc ~tky`c uceht e`l g`l`ac `lo bc

ahyctlgcl g`{ ehleclt`c ku tcuhstecu hl kg~ht`l uctykecu qbkeb bc ~tky`c

uceht e`llh ~thykoc,

G`l{ ~sdmke uceht iktgu klesttco bsac mhuucu ds ehlklsco h islekhl dce`suc k ku

yct{ okiikesm- `mghu kg~huukdmc- h emhuc ` ahyctlgcl sloct`jkla cycl ki k ku `

ot`kl hl bc l`khlu mkgkco tcuhstecu, _bku ohcu lh gc`l b` ~tky`c iktgu `mq`{u

~thik`dmc "klocco- pskc ` icq hi bc ~sdmke uceht iktgu qctc htkakl`mm{ ~tky`c iktgu

qbkeb qctc hl bc yctac hi emhustc osc h mhuucu: bc{ qctc bcl l`khl`mkvco h

~thce bc fhdu hi bc qhtjctu+, Bhqcyct- ` mhuu'g`jkla ~tky`c iktg qkmm lh q`uc

tcuhstecu d{ dckla jc~ tsllkla ocu~kc bc mhuucu,

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

8/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

P01, Cr~m`kl bhq kg~ht usdukskhl e`l ~thce ohgcuke klosut{,

@luqct6 Kg~ht usdukskhl ku `muh jlhql `u `l klq`to mhhjkla t`oc ut`ca{, _bku

~hmke{ `kgco ` tc~m`ekla ht usdukskla kg~htu qkb ohgcuke ~thosekhl, Iht

cr`g~mc- kluc`o hi kg~htkla ycbkemcu g`oc kl ` ihtckal ehslt{- klosutkcu qhsmo

dc clehst`aco h ~thosec bcg kl Klok` kucmi, Kl bku ~hmke{ bc ahyctlgcl

~thceco bc ohgcuke klosutkcu ithg ihtckal ehg~ckkhl, ^thcekhl ithg kg~htu

hhj qh ihtgu6 `tkiiu `lo psh`u, _`tkiiu `tc `r hl kg~htco ahhou: bc{ g`jc

kg~htco ahhou ghtc cr~clukyc `lo okuehst`ac bckt suc, Psh`u u~ceki{ bc

ps`lk{ hi ahhou qbkeb e`l dc kg~htco, _bc ciice hi `tkiiu `lo psh`u ku b` bc{

tcutke kg~htu `lo- bctcihtc- ~thce bc ohgcuke iktgu ithg ihtckal ehg~ckkhl,

Iklkub Mklc ) Dc{hlo

P02, Qb{ `lo bhq q`u ~tky`c uceht tcasm`co sloct bc K^T 0;398

@luqct6 Sloct K^T 0;39 bc ~tky`c uceht q`u jc~ sloct u`c ehlthm bthsab `

u{ucg hi mkeclucu, Lh lcq klosut{ q`u `mmhqco slmcuu ` mkecluc q`u hd`klco ithg

bc ahyctlgcl, _bku ~hmke{ q`u suco iht ~thghkla klosut{ kl d`ejq`to tcakhlu: k

q`u c`ukct h hd`kl ` mkecluc ki bc klosutk`m slk q`u cu`dmkubco kl `l cehlhgke`mm{

d`ejq`to `tc`, Kl `ookkhl- useb slku qctc akycl ect`kl ehlecuukhlu useb `u `r

dclciku `lo cmcetkek{ ` ` mhqct `tkii, _bc ~st~huc hi bku ~hmke{ q`u h ~thghc

tcakhl`m cps`mk{,

Cycl `l crkukla klosut{ b`o h hd`kl ` mkecluc iht cr~`lokla hs~s ht iht

okyctuki{kla ~thosekhl, _bku q`u gc`l h clustc b` bc ps`lk{ hi ahhou

~thoseco q`u lh ghtc b`l qb` bc cehlhg{ tcpsktco,

P0;, G`eb bc ihmmhqkla6

0, ^tkgc Gklkuct @, Uccou b` akyc m`tac ~th~htkhl hi hs~s

4, Athuu Ohgcuke D, Ps`lk{ hi ahho b` e`l dc kg~htco,

^those

5,Psh` E, Eb`kt~ctuhl hi ~m`llkla ehggkuukhl,

8/4/2019 wikimama - Eco 11 - free notes 11th and 12th

9/9

Klok`l cehlhg{ 0;3>';> b~6((qkjkg`g`,kl

?,M`lo Tcihtgu O, _bc ghlc{ y`msc hi `mm bc ikl`m ahhou `lo

Uctykecu ~thoseco qkbkl bc cehlhg{ kl hlc

{c`t,

3, B[Y Uccou C, Kg~thycgclu kl bc ikcmo hi `atkesmstc h

kletc`uc ku ~thosekyk{,

9, Usduko{ I, _bc ghlc`t{ `uuku`lec akycl d{ ahyctlgcl

iht ~thosekhl `ekykkcu,

@luqct6

0,' E

4 O

5 D

? C

3 @

9 I