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...Hum e economics common for all branches l t p class work marks theory total duration of exam hrs course objective the purpose this is to acquaint student in basic economic concepts and their operational significance stimulate him think systematically objectively about contemporary problems unit i definition various definitions nature problem production possibility curve laws relation between science engineering technology ii measurement utility law diminishing marginal equi its practical application importance iii meaning demand individual market schedule shape elasticity factors effecting applications concept iv variable proportions returns scale internal external diseconomies cost fixed average money real opportunity etc short run long v types perfect competition monopoly oligoply monoplistic main features these markets supply role price determinition effect changes on prices vi characteristics indian economy brief elementary introduction privatization merits demerits globalisation v...