Economics - Class XII Resources

The following list of online resources are provided as a sample of curated resources. New resources shall be added as we come across interesting and relevant online materials.

1. Law of Demand

Description: Explains the law of demand with the help of demand schedule and demand curve.

Core Concepts: Law of demand.

Link: Video on law of demand

2. Determinants of Demand

Description: Explains the factors affecting demand with examples.

Core Concepts: Determinants of demand.

Link: Video on determinants of demand

3. Exceptions to Law of Demand

Description: Explanation with help of animations.

Core Concepts: Exceptions to law of demand.

Link: Video on exceptions to law of demand

4. Shift in Demand Curve

Description: Explanation with the help of schedules and graphs.

Core Concepts: Shift in demand curve.

Link: Webpage on shift in demand curve

5. Moment Along the Demand Curve

Description: Explanation with the help of schedules and graphs.

Core Concepts: Moment along the demand curve.

Link: Webpage on moment along the demand curve

6. Change in Quantity Demanded and Change in Demand

Description: Precise explanation with the help of graphs.

Core Concepts: Comparison between movements and shifts.

Link: Video on change in quality demanded

7. Consumer Behaviour: Consumer Equilibrium Cardinal Approach

Description: Graphical explanation of consumer’s equilibrium through MUA.

Core Concepts: Consumer equilibrium MUA.

Link: Video on consumer behaviour

8. Budget Lines and Indifference Curves

Description: Explains how consumer maximize the utility within the given budget constraint.

Core Concepts: Budget lines and indifference curves.

Link: Video on budget lines and indifference curves

9. Indifference Curve

Description: Explains how consumer maximize the utility within the given budget constraint.

Core Concepts: Indifference curve.

Link: Video on indifference curve

10. Marginal Rate of Substitution - Indifference Curve

Description: Explains the marginal rate of substitution of good X for good Y with the help of indifference curve.

Core Concepts: Marginal rate of substitution.

Link: Video on marginal rate of substitution

11. Properties of Indifference Curve

Description: Demonstrates the properties of IC with the help of graphs.

Core Concepts: Properties of IC.

Link: Video on properties of indifference curve

12. Consumer Equilibrium- Indifference Curve

Description: Graphical explanation of consumer’s equilibrium through ICA.

Core Concepts: Consumer equilibrium ICA.

Link: Video on indifference curve

13. Elasticity of Demand-Kinds of Elasticity

Description: Explains the types of price elasticity of demand with the help of graphs.

Core Concepts: Price elasticity of demand and its types.

Link: Video on indifference curve

14. Introduction to Price Elasticity of Demand

Description: Explains the types of price elasticity of demand with the help of numerical examples.

Core Concepts: Price elasticity of demand and its types.

Link: Video on price elasticity of demand

15. Factors Affecting Price Elasticity of Demand

Description: Explanation of the factors affecting price elasticity with pictorial examples.

Core Concepts: Meaning & factors of price elasticity.

Link: Video on affecting price elasticity of demand

16. Elasticity of Demand- Percentage Method

Description: Solution of numerical problem of price elasticity of demand using percentage method.

Core Concepts: Calculation of price elasticity of demand.

Link: Video on elasticity of demand using percentage method

17. Importance of Elasticity of Demand

Description: Explains the importance of price elasticity in making decision regarding price and factor prices and regarding taxation and exchange rate.

Core Concepts: Importance of price elasticity of demand.

Links: 

18. Determinants of Price Elasticity of Demand

Description: Precise explanation of determinants of price elasticity of demand.

Core Concepts: Determinants of price elasticity.

Link: Video on determinants of elasticity of demand

19. Law of Supply

Description: Explanation of law of supply with the help of examples.

Core Concepts: Law of supply.

Links: 

20. Factors Affecting Supply

Description: Demonstrates how the supply changes with the change in factors other than price, using graphs.

Core Concepts: Determinants of supply.

Links: 

21. Changes in Supply and Shift of the Supply Curve

Description: Precise explanation of change in supply and change in quantity supplied with the help of graphs.

Core Concepts: Change in supply vs change in quantity supplied.

Link: Video on change in supply and shift of the supply curve

22. Exceptions to the Law of Supply

Description: Explanation the situations and nature of few commodities which defies the law of supply.

Core Concepts: Exceptions to the law of supply.

Link: Video on exceptions to the law of supply

23. Elasticity of Supply

Description: Explains the types of price elasticity of supply with the help of graphs.

Core Concepts: Types of elasticity of supply.

Link: Video on types of elasticity of supply

24. Elasticity of Supply (Percentage Method)

Description: Solution of numerical problem of price elasticity of demand using percentage method and interpretation of the coefficients.

Core Concepts: Calculation of price elasticity of supply using % method.

Link: Video on elasticity of supply using % method

25. Equilibrium Price

Description: Explanation of equilibrium with life examples.

Core Concepts: Determination of equilibrium price.

Link: Video on equilibrium price

26. Equilibrium Price Determination

Description: Graphical explanation of equilibrium price determination.

Core Concepts: Determination of equilibrium price.

Link: Video on equilibrium price determination part 1

Description: Explains how the excess demand and excess supply maintains equilibrium.

Core Concepts: Excess demand and excess supply.

Link: Video on equilibrium price determination part 2

27. Changes in Equilibrium Price and Quantity

Description: Graphical explanation of possible changes in equilibrium prices and quantity with the change in demand and supply in isolation.

Core Concepts: Shift in demand and supply.

Link: Video on changes in equilibrium price and quantity when the supply and demand change

Description: Graphical explanation of possible changes in equilibrium prices and quantity with simultaneous change in demand and supply.

Core Concepts: Simultaneous shift in demand and supply.

Link: Video on equilibrium price and quantity from changes in both supply and demand

28. Cases of Simultaneous Shifts in Demand and Supply Curves

Description: Explanation of changes in equilibrium price and quantity with the simultaneous change in demand and supply.

Core Concepts: Simultaneous shifts in demand and supply curves.

Link: Webpage on 4 cases of simultaneous shifts in demand and supply curves

29. Production Function

Description: Explains the meaning production function, choice of technology and types of production function followed by follow up question.

Core Concepts: Production function.

Link: Video on production function

30. Total Product, Marginal Product and Average Product

Description: Precise explanation of various cost concepts in short and long run.

Core Concepts: Total, average and marginal product.

Link: Video on total, marginal and average product

31. Law of Variable Proportion

Description: Explanation of the various stages of law of variable factor and producer’s decision with the help of a schedule.

Core Concepts: Law of returns to a factor.

Links: 

32. Law of Returns to Scale

Description: Explains law of increasing, decreasing and constant returns to scale with examples.

Core Concepts: Law of returns to scale.

Link: Video on law of returns to scale

33. Law of Variable Proportion Vs Law of Returns to Scale

Description: Differentiates the law of variable proportion and law of returns to scale comprehensively.

Core Concepts: Difference between LVP and LRS.

Link: Video on difference between LVP and LRS

34. Average Cost and Marginal Cost curves- Relation

Description: Demonstrates the relation-ship between the AC and MC with the help of a graph.

Core Concepts: Relationship between average cost and marginal cost curves.

Link: Video on average and marginal cost curves relation

35. Short-Run Cost Curves - Total Cost

Description: Explains the nature of total cost in short run with the help of a schedule and graph.

Core Concepts: Short-run total cost.

Link: Video on short run cost curves

36. Short-Run Costs AFC ATC AVC & MC

Description: Explains the nature of short run AFC, ATC, AVC and MC with the help of a schedule.

Core Concepts: Short-Run Costs AFC ATC AVC & MC.

Link: Video on short-run costs AFC ATC AVC & MC

Description: Graphical approach of the nature of and relationship among short run AFC, ATC, AVC and MC.

Core Concepts: Short-Run Costs AFC ATC AVC & MC.

Link: Video on short-run costs AFC ATC AVC & MC graphic approach

37. Long Run Average Cost Curve

Description: Explains the nature of LAC with the help of example and graph.

Core Concepts: Long run average cost curve.

Link: Video on short-run costs AFC ATC AVC & MC

Description: Demonstrates how to derive LAC curve from serious of SAC curves.

Core Concepts: Long run average cost curve.

Link: Video on long run average cost curve part 2

38. Long Run Average Cost and Long Run Marginal Cost

Description: Demonstrates how to derive LMC curve from SAC and LAC.

Core Concepts: LAC and LMC curve.

Link: Video on long run average and marginal cost

39. Introduction to Perfect Competition

Description: Introduces the basic characteristics of perfect competition and market equilibrium with the help of graph.

Core Concepts: Perfect competition.

Link: Video on introduction to perfect competition

40. TR, AR and MR - Perfect Competition

Description: Explains the nature of TR, AR and MR under perfect competition with the help of numerical example and graph.

Core Concepts: TR, AR and MR - Perfect Competition.

Link: Video on TR, AR and MR - perfect competition

41. How to Calculate Profit, Loss, and Marginal Cost in a Perfect Competition

Description: Explains the calculation of profit, loss, marginal cost in a perfect competition with numerical examples and graph.

Core Concepts: Calculation of profit, loss, marginal cost in a perfect competition.

Links: 

42. TR, AR and MR Under Imperfect Competition

Description: Explains the nature of TR, AR and MR under imperfect competition with the help of numerical example and graph.

Core Concepts: TR, AR and MR under imperfect competition.

Link: Video on TR, AR and MR under imperfect competition

43. Introduction to Monopoly Theory

Description: Introduces the basic characteristics of monopoly and behaviour of revenue with the help of graph.

Core Concepts: Monopoly.

Link: Video on introduction to monopoly theory

44. Circular Flow of Income Four Sector Model

Description: Step by step, comprehensive explanation of four sectors circular flow of income showing all the leakages and injections.

Core Concepts: 4 sector circular flow model.

Link: Video on circular flow of income

45. National Income Accounting

Description: Explains various concepts of national income aggregates, derivation and their interrelationships.

Core Concepts: National income aggregates.

Link: Video on national income accounting

46. Gross National Happiness

Description: Explanation of GNH on Wikipedia.

Core Concepts: GNH.

Link: Webpage on Gross National Happiness

Description: Explanation the concept of GNH in simple animated video.

Core Concepts: GNH.

Link: Video on what is "Gross National Happiness"?

47. GNH Survey Report

Description: 2015 GNH survey report by Center for Bhutan Studies.

Core Concepts: GNH.

Link: Webpage on GNH 2015 survey report

48. Gross Domestic Product

Description: Explanation of GDP on Wikipedia.

Core Concepts: GDP.

Link: Webpage on GDP

49. Differences Between GDP and GNH

Description: An essay on the difference between GNH and GDP.

Core Concepts: GNH vs GDP.

Link: Webpage on differences between GDP and GNH

50. Importance of GDP

Description: An essay on importance of GDP on Investopedia.

Core Concepts: Importance of GDP.

Link: Webpage on importance of GDP

51. GDP Vs. GNH: Rethinking What A Healthy Economy Means

Description: An essay on GDP Vs. GNH: Rethinking What A Healthy Economy Means by Forbes.

Core Concepts: GNH vs GDP.

Link: Webpage on GDP vs. GNH

52. Law of Comparative Advantage

Description: Demonstrates comparative cost advantage theory with numerical examples and PPC.

Core Concepts: Comparative cost advantage.

Link: Video on law of comparative advantage

53. Balance of Payments Disequilibrium - Causes and Consequences

Description: Explanation of balance of payments disequilibrium, its causes and consequences.

Core Concepts: Balance of payments disequilibrium - causes and consequences.

Link: Video on balance of payment disequilibrium

54. Annual RMA Report 2020

Description: Contains the current balance of payment status of Bhutan.

Core Concepts: Annual RMA report.

Link: PDF on annual RMA report

55. Annual Budget Report 2020

Description: Contains the current balance of payment status of Bhutan.

Core Concepts: Annual budget report.

Link: PDF on annual budget report

56. State of the Nation 2020

Description: Contains the current balance of payment status of Bhutan.

Core Concepts: State of the nation.

Link: PDF on state of the nation

57. The Importance of Budgeting

Description: Analogy highlighting the importance of budgeting.

Core Concepts: Importance of budget.

Link: Video on importance of budgeting