CAP I Notes and Summaries || 1

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Notes on Demand and Elasticity

Demand    refers    to    the    Quantities    of Commodity that the Consumers are Able to Buy at each possible Price during a given Period of Time, other things being equal.

  1. Willing to Purchase at Various Prices during Period of Time
  2. Able to Purchase at Various Prices during Period of Time

Price and Output Determination in Monopoly and Imperfect Markets

This notes covers about the different markets, price determination, in such market and equilibrium in monopoly, perfect competition, oligopoly, monopolistic competition. .

Accounting/Notes For Bills Of Exchange  and Promissiory Notes

A Bill of Exchange has been defined as  an  “instrument  in  writing containing an unconditional order signed  by  the  maker  directing  a certain person to pay a certain sum of money only to or to the order of a certain person or to the bearer of the instrument”. When such an order is accepted in writing on the face of the order itself, it becomes a valid bill of exchange.

Remedies For Breach Of Contract

The  party  committing  breach  of contract is called the ‘guilt party’ and the other party is called the ‘injured’ or ‘aggrieved’ party.

A contract, being a fountainhead of a correlative set of rights and obligations for the parties, would be of no value, if there were no remedies to enforce the rights arising there under.

Theory of Cost concepts its type and curve

• Cost Analysis refers to the Study of Behaviour of Cost in relation to one or more Production Criteria like size of Output, Scale of Operations, Prices of Factors of Production.

• In other words, Cost Analysis related to the Financial Aspects of Production Relations against Physical Aspects.

Theory of Consumer Behaviour- Indifference Curve

This note covers Indifference curve, utility, law of diminishing marginal utility. Consumers surplus. Utility is synonymous with "Pleasure", "Satisfaction" & a Sense of Fulfillment of Desire

Law of Supply, Individual and Market Supply Its Curve and Elasticity

  1. Willing to Offer to the Market at Various Prices during Period of Time
  2. Able to Offer to the Market at Various Prices during Period of Time
  3. What Firms Offer for Sale, Not Necessarily  to What they Succeed in Selling
  4. Is a Flow i.e. as per unit of time, per day, per week, or per year

Joint Venture Accounts and Methods of Accounting

A Joint Venture is a very short duration “business” (generally, confined to a single transaction, like, buying some surplus stores and selling them) entered into by two or more persons jointly. Joint Venture may be described  as  a  temporary  partnership between two or more persons without the use of the firm name, for a limited purpose.

Venture  may  be  for  the  construction  of  a building or a bridge, for the supply of certain quantity of materials or labour and even for the supply of technical services. The persons who have so agreed to undertake a Joint Venture are   known   as   ‘Joint   Venturers’   or   ‘Co- Venturers’.

Notes on Human Resources Management

– The set of organizational activities directed at attracting, developing, and maintaining an effective work force.

• The Strategic Importance of HRM

– Firms have come to realize the value of their human resources in improving productivity.
– HRM is critical to bottom-line performance of the firm.
– HR planning is part of the strategic planning process.

Money Banking and Commercial Banking

 Traditionally, money has been defined on the basis of its general acceptability and its functional aspects. Thus, any thing which performed the following three function:
 Served as medium of exchange
 Served as a common measure of value
 Served as a store of values was termed as money.