Principles of Economics

Welcome to the “Principles of Economics” page, your ultimate destination for mastering economics through high-quality notes and extensive collections of past papers from multiple educational boards, including  FBISEBISERWPBISELHRMUDUPU, NCERT, CBSE , and more. Whether you are a student preparing for exams or a teacher seeking reliable teaching materials, this page is designed to meet all your academic needs.

Key Features:

  • Detailed Notes: Our meticulously curated notes cover all fundamental concepts of economics, providing you with a thorough understanding of topics such as supply and demand, market structures, national income, fiscal policies, and more. Each topic is broken down into easily digestible sections, complete with definitions, examples, and key points.
  • Previous Papers Collection: Gain access to a vast repository of past examination papers from major educational boards. Our collection includes papers from the Federal Board of Intermediate and Secondary Education (FBISE), Board of Intermediate and Secondary Education Rawalpindi (BISE RWP), Board of Intermediate and Secondary Education Lahore (BISE LHR), and others. These papers are valuable for understanding exam patterns, practicing problem-solving, and enhancing your exam readiness.
  • Exam Preparation Tips: Benefit from expert advice on how to effectively prepare for your economics exams. Our tips cover everything from time management strategies and important topics to focus on, to techniques for answering different types of questions.
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  • Regular Updates: Stay up-to-date with the latest trends and changes in the economics syllabus and examination formats. We continuously update our notes and paper collections to ensure you have the most current information at your fingertips.

Notes of Principles of Economics

Introduction to Economics Classical, Neo Classical and Modern thoughts of Economics

2.1 Theory of Consumer Behaviour

2.2 Total Utility, Marginal Utility, Point of Satiety & Types of Utilities

2.3 The Law of Diminishing Marginal Utility DMU

2.4 The Law of Equal Marginal Utility EMU

3.1 Demand, Individual Demand, Aggregate Demand, Law of Demand

3.2 Change and Shift in Demand, Extension and Contraction in Demand, Rise and Fall in Demand

3.3 Elasticity of Demand

3.4 Point and Arc Elasticity of Demand

3.5 Income Elasticity of Demand, Cross Elasticity of Demand

4.1 Law of Supply

4.2 Extension and Contraction, Rise and Fall in Supply

4.3 Elasticity of Supply

National Income and Its Components or Concepts including Real vs Nominal GNP and Per Capita Income

Circular Flow of National Income

How to Measure National Income

Money

Money, Barter System and its Difficulties

Evolution of Money

Functions & Qualities of Money

Quantity Theory of Money & Fisher’s Equation

What is Inflation and How it effects the Society?

Deflation and its Impact on Society

Business Cycle

The Business Cycle and its Phases