This document contains instructional content for economics students. It covers two topics: the concepts of cost of production and revenue, and microeconomics versus macroeconomics. For the first topic, it defines different types of costs such as real cost, opportunity cost, money cost, fixed cost, and variable cost. For the second topic, it distinguishes between microeconomics, which studies individual units, and macroeconomics, which studies national aggregates such as income, production, and unemployment at the overall economic level. It includes questions to test student understanding.

1. R E E N A K U M A R I
E C O N O M I C S
1 4 1 6 2 0 4 5
B . E D
PROGRAMMED LEARNING
MATERIAL

2. Content instructions
 This content basically tells about content related
things
 In this 5 questions are their for student knowledge
 In questions 4 options are their

3. CONTENT OBJECTIVE-1
 Student able to classify the various concepts
 Student able to define the types of cost
 Student able to classify the cost of production
 Student able to explain the concepts

4. CONTENT OBJECTIVE -2
 Student able to differentiate between micro
economics and macro economics
 Student able to classify the nature of macro
economics
 Student able to explain the macro aggregates
 Student able to define the characteristics

5. CONCEPTS OF COST OF PRODUCTION AND
REVENUE
 Meaning: supply is a function of production cost and
production is a function of production cost because it
depends upon quantity and money.
 Concepts: real cost -it is dissatisfaction on the part of
factor of production by entering into the process of
production
 opportunity cost-when a factor is used for a particular
use; the other use is left out or the same cannot be used
for other purposes
 money cost-it relates with three things i.e. prices paid to
factors of production, level of production, period of time.

6.  Types :fixed cost- the cost which does not increase
with an increase in production ,does not decrease in
production
 variable cost :the cost which increase with an
increase in production ,decrease with fall in
production
 total cost-fixed cost and total cost incurred in the
short run makes total cost.

7. CONTENT -2
MACREO ECONOMICS
 Definition: micro-it is a study of individual units or a
group of units i.e consumer,firm,income
 Macro –it is a study of national income ,general price
level, domestic production and unemployment
 fetures:macro economics as a new economics ,study
of economic activity in its totality ,the study of
homogeneous agregates,diversity of total micro and
macro aggregates, study of basic concepts and sub-
aggregates, analysis of overall aggregates,
interdependence of total aggregates, bird’s eye view
of the economy.

8. TEST FOR KNOWLEDGE
Q-1 Q-2 Q-3 Q-4 Q-5

9. Content -1
 Dissatisfaction on the part of factor of production by
entering into the process of production is called as
1. Real cost
2. Opportunity cost
3. Money cost
4. Total cost

10.  When a factor is used for a particular use, the other
use is left out or the same cannot be used for other
purpose is called as
1. Fixed cost
2. Total cost
3. Variable cost
4. Opportunity cost

11.  The cost of production in terms of money is called as
1. Real cost
2. Money cost
3. Fixed cost
4. Variable cost

12.  The cost which does not increase in production with
increase in production, does not decrease with a
decrease in production
1. Average fixed cost
2. Average variable cost
3. Fixed cost
4. Marginal cost

13.  The cost increase in production , decreases with fall
in production and is zero with zero production is
called as
 Money cost
 Opportunity cost
 Variable cost
 Real cost

14. ITS RIGHT

15. BACK TO CONTENT-1 OPPS ITS WRONG
Content-2

16. TEST FOR KNOWLEDGE
Q-1 Q-2 Q-3 Q-4 Q-5

17. CONTENT -2
 It is a study of individual units or a group of units is
called as
1. Micro economics
2. Macro economics
3. National income
4. Price level

18.  It is a study of national income ,domestic production
and unemployment is called as
1. Micro economics
2. Industry
3. Macro economics
4. investment

19.  Macro economics is
1. The study of homogeneous
2. The study of hetrogeneous
3. The study of firm
4. The study of market

20.  Macro economics studies which are quantifiable and
presentable in figures
1. Analysis of overall prices
2. Analysis of overall aggregates
3. Analysis of overall income
4. Analysis of overall economy

21.  Macro economics studies sub parts of
1. Overall quantity
2. Overall quality
3. Overall aggregates
4. Overall economy

22.  Total micro and macro aggregates are
1. Savings
2. Employment
3. Income
4. diversity

23. ITS RIGHT

24. BACK TO CONTENT OPPS ITS WRONG