SenIor Seoondury Course

[InIermedIuIe {APOSS} Coursej

ECONOMICS
(ENGLISH MEDIUM)
St udy Mat erial
!&
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
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
Dr. LSN Prasad
M.A.,M.Phill.,Ph.D, PGCS
Reader in Economics,
Hindu College, Guntur
Dr. P. Vasudeva Rao
M.A.,M.Phill.,Ph.D,
Reader in Economics,
Hindu College, Guntur
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COORDINATORS
318 ECONOMICS
STUDY MATERIAL
CHIEF EDITOR
A. Satyanarayana Reddy M.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 Prasad
M.A.,M.Phill.,Ph.D, PGCS
Reader in Economics,
Hindu College, Guntur
Sri R. Venkateswara Rao
M.A (Litt), M.A. (His), M.Ed., M.Phil
Coordinator
A.P. Sate Open School,
Hyderabad - 13(A.P.)
Dr. P. Venu Gopal
M.A.,M.B.A., M.Phill.,Ph.D,
Lecturer in Economics,
Hindu College, Guntur
Dr. A. Bhavani
M.A.,M.Phill.,Ph.D,
Associate Professor,
SivaSivani Institute of Management
Hyderabad
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