About Class 11 Micro Economics

Cost Leadership implies producing goods or provision of services at lowest cost while maintaining quality to have better competitive price. In a business environment where each entity is thriving to achieve apex position not only in domestic but global competitive market, it is essential for the entity to fit into any of the three competitive strategic dimensions. Cost Leadership, also in line with the subject Cost and Management Accounting, can be achieved if an entity has a robust Cost and Management Accounting system in place. In this chapter, we will learn various aspects of Cost and Management Accounting and its application in manufacturing and service environment.

Introduction to Class 11 Micro Economics

Have you felt that Cost Management Accounts is hard to understand sometimes? CA SONU GUPTA is here to explain everything in simple words so that you can have a better understanding of this topic.
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Why Take The Class 11 Micro Economics Bundle?

Micro Economics is the study of how all the producers use scarce resources to produce useful commodities and distribute them among different people / sectors of the economy.  It is the study of individuals, households and firms’ behaviour in decision making and allocation of resources within the economy.

In the bundle, student will be able to understand the concepts of :

  • central problems of an economy
  • consumer’s equilibrium
  • demand and elasticity of demand
  • production, cost, revenue and producer’s equilibrium
  • supply and elasticity of supply
  • equilibrium price and quantity is calculated
  • forms of market

 

Micro Economics is the study of how all the producers use scarce resources to produce useful commodities and distribute them among different people / sectors of the economy.  It is the study of individuals, households and firms’ behaviour in decision making and allocation of resources within the economy.

In the bundle, student will be able to understand the concepts of :

  • central problems of an economy
  • consumer’s equilibrium
  • demand and elasticity of demand
  • production, cost, revenue and producer’s equilibrium
  • supply and elasticity of supply
  • equilibrium price and quantity is calculated
  • forms of market

 

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