Best Commerce Notes For Revision

National income measurement .......  short and easy notes for the board exam 1. What is national income? how it is measure? > Net National Product at Factor Cost (NNP fc ) is known as national income. It is the sum total of Net Domestic Product at Factor Cost (NDP fc ) and Net Factor Income From Abroad (NFIA). (NNP fc ) =  (NDP fc ) +  (NFIA) Three methods are used to calculate national income; 1. Product or value-added method:  Three steps are used to calculate national income in this method. step 1:   We can classify the economy into following three sectors; Primary sector Secondary sector Service/tertiary sector Step 2:  Net value added = Net value added of output - intermediate consumption - net indirect tax. Step 3: Calculation of Net Factor Income From Abroad (NFIA). 2. Write the difference between primary Sector, Secondary sector, and tertiary sector. THE END

National income .......  short and easy notes for the board exam 1. What do you mean by GDP mp (Gross Domestic Product at Market Price) ? > It is the market value of final goods and services produced during the year within a domestic Territory of a country. GDP mp = final goods and services produced within the territory of a country during a year. 2. What is G NP mp (Gross National Product at Market Price)? >It is the market value of any goods and services produced within the domestic Territory of a country by a normal resident during an accounting year along with net factor income from abroad. 3. What is NNPmp ( Net National Product at Market Price)? > Market value of final goods and services produced during the year + net factor income from abroad -depreciation. NNPmp =  GNPmp - depreciation 4. What is Net Factor Income From Abroad (NFIA)? > it is the income from abroad from rent, interest, wages, profit by a resident from rest of the world, and fac...

CLASS 12 BUSINESS STUDIES ALL CHAPTERS NOTES FOR ALL BOARD EXAM PART A: Principles and Functions of Management Nature and significance of Management. Principles of management. Business environment. Planning . Organizing . Staffing . Directing . Controlling Part B: Business Finance and marketing. Business Finance. Financial market. Marketing management. Consumer protection. Entrepreneurship development. B USINESS STUDIES CBSE SYLLABUS BUSINESS STUDIES BSEB SYLLABUS BUSINESS STUDIES JAC SYLLABUS Caution - It does not mean that those notes are only for these boards. Rather it will be applicable for all state boards.

Circular flow of income .......  short and easy notes for the board exam 1. Structure of four sector model. > In Open Economy,  following are the model of 4 sectors; Household sector. Producer sector. Government sector. External sector. In Open Economy, Y = C + I + G + ( X - M ) Whereas, Y = production/income C = consumption I = investment G = government expenditure X = export M = import In closed economy, Y = C = I 2. What do you mean by leakage of income? >The part of income which is not returned back to circular flow is called leakage of income. Savings, taxes, imports are examples of leakage. 3.What do you mean by injection of income? > Addition made in economy from outsources like investment, government-expenditure, and import are called Injection of income. BONUS POINT THE END

Macroeconomics .......  short and easy notes for the board exam 1.What do you mean by Macroeconomics? What are its characteristics? > macro means large, it is also a Greek word Makro. It deals with aggregates such as National income, aggregate demand, aggregate supply, and general price level. Following and its characteristics;  It deals with the Macro unit of the economy. Macroeconomics study the policy related to the whole. It studies macro variables. Its important tools are fiscal policy, monetary policy, and income policy. It is also known as income and employment theory.  2.Write the importance of macroeconomics. > following are its main importance; Macroeconomics essential for the formulation of various economic policies. Macroeconomics help in providing basic raw material in the study of economic growth. Consumption in an economy studies to calculate the economic growth of the nation. All policies are framed by the government on ...

Market equilibrium .......  short and easy notes for the board exam. 1. Relation between market price and normal price. >There are a close relation found between market price and normal price. Market price has changing tendency, which normal price the permanent trade. After every change, market price has the tendency to become equal to normal price.  Market price moves up and down around the normal price. 2. Difference between market price and normal price. 3. How price determined under perfect competition? > According to Marshall, price is determined at that point where demand and supply of a commodity become equal. Marshal presented the example of scissor, according to him, both played are essential to cut a piece of paper. Similarly both the force demand and supply are essential in price determination.                                Price of commodity is determined by both, demand and...

Market forms .......  short and easy notes for the board exam. 1. What do you mean by market? What are its features? > Entire area where buyer and seller of a commodity are inclose contact to each other, is called market. Following its features; One area - where wire and seller are present and compete with each other. Presence of buyer and seller - it is compulsory of the presence of buyer and seller to purchase and sell the commodity. One commodity - in economy, every commodity has different market. One price of commodity - market contain one single price of commodity. Due to competition between buyers and sellers. 2. What is perfect competition? What are its Essential elements or features? > It is the situation in which a large number of buyers and sellers are found for homogeneous product.  In perfect competition, a single market price prevails for the commodity. Following are its feature; Large number of buyers and sellers. All goods are homogeneous in nature. ...