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ECONOMICS(ENGLISH MEDIUM)

Study Material

S.C.E.R.T. Campus, Opp. L.B. Stadium E-gate, Basheerbagh, Hyderabad - 500 001.

Ph : 040-23299568. Website : www.apopenschool.org; E-mail : dirapsoshyd@yahoo.com

A.P. STATE OPEN SCHOOL, HYDERABAD

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Andhra Pradesh Open School Society

Government of Andhra Pradesh, Hyderabad

First Published : 2012

All Rights Reserved

No part of this publication may be reproduced, stored in a retrieval

system or transmitted, in any form or by any means without the prior

permission, in writing of the publisher, nor be otherwise circulated in any

form of binding or cover.

This Study material is prepared on the basis of

Economics (318) Telugu version of APOSS, Hyderabad

Type setting at :M/s Pavan Graphics,

Block-31, Flat - 3, Vignanpuricolony,

Vidyanagar, Hyderabad.

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Foreword

It is happy to inform you, that the Government of Andhra Pradesh issued orders

to start Intermediate course in Open Distance Learning mode from the academic year

2010-11- G.O. Ms. No. 170 Higher Education (I.E. II) Dept., dt: 04.09.2012. I

congratulate all the learners enrolled in this course. This enrolled Intermediate (APOSS)

course started by APOSS is equivalent to the Intermediate course offered by Board of

Intermediate Education, Andhra Pradesh in regular mode. It is the best opportunity for

the candidates, those who could not complete Intermediate course in regular mode.

This study material was prepared by experienced Lecturers and Professors

according to syllabus. All the questions and answers were prepared for easy

understanding of learners and used English terminology wherever necessary. Simple

and vernacular language was used in the preparation of this material. Any additions

and changes related to this study material are invited.

With best wishes

(A. Satyanarayana Reddy)

Director, APOSS

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Dr. LSN PrasadM.A.,M.Phill.,Ph.D, PGCS

Reader in Economics,

Hindu College, Guntur

Dr. P. Vasudeva RaoM.A.,M.Phill.,Ph.D,

Reader in Economics,

Hindu College, Guntur

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COORDINATORS

318 ECONOMICS

STUDY MATERIAL

CHIEF EDITOR

A. Satyanarayana ReddyM.A., M.Ed.Director,

Andhra Pradesh Open School Society, Hyderabad.

EDITOR

Smt. G. Sharada M.A., M.Ed.,

Coordinator

A.P. Sate Open School,

Hyderabad - 13(A.P.)

WRITERS

Dr. LSN PrasadM.A.,M.Phill.,Ph.D, PGCS

Reader in Economics,

Hindu College, Guntur

Sri R. Venkateswara RaoM.A (Litt), M.A. (His), M.Ed., M.Phil

Coordinator

A.P. Sate Open School,

Hyderabad - 13(A.P.)

Dr. P. Venu GopalM.A.,M.B.A., M.Phill.,Ph.D,

Lecturer in Economics,Hindu College, Guntur

Dr. A. BhavaniM.A.,M.Phill.,Ph.D,

Associate Professor,

SivaSivani Institute of Management

Hyderabad

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318 Economics

Study Material

CONTENTS

Lesson Name Page. No.

1. Definitions of Economics 1-3

2. Economy and its Processes 4-8

3. Basic Problems of an Economy 9-15

4. Economic Development and Indian Economy 16-21

5. Statistics : Meaning and Scope 22-27

6. Making Statistical Data Meaningful 28-35

7. Presentation of Statistical Data 36-42

8. Statistical Methods 43-50

9. Index Mumbers : Meaning and their construction 51-56

10. Index Numbers: Problems and Uses 57-60

11. Introduction to Macro Economics 61-65

12. Income Flows 66-73

13. National Income - Concepts 74-82

14. Inflation 83-87

15. National Income 88-95

16. Uses of National Income Estimates 96-102

17. What Micro Economics is All about 103-107

18. The Theory of Consumption 108-114

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19. Indifference Curves Analysis 115-118

20. What Affects Demand 119-126

21. Elasticity of Demand 127-134

22. What Affects Supply 135-143

23. Theory of Production 144-152

24. Theory of Distribution 153-162

25. Price Determination 163-169

26. Cost 170-178

27. Revenue 179-184

28. Profit Maximisation 185-190

29. The Government Budgeting 191-201

30. Money Supply and Its Regulation 202-208

31. Need for Planning in India 209-214

32. Achievements of Planning in India 215-220

33. New Economic Reforms and the Role of Planning 221-226

34. Economic Development of Andhra Pradesh 227-232

35. Environment and Economic Development 233-241

36. Agriculture 242-249

37. Industry 250-258

38. Interdependence of Agriculture and Industry 259-262

39. Population of India 263-268

40. Population of India Structure, Problems and Measures 269-272