Y = 2x³ – 6x
Differentiate ‘y’ with respect to x,
\(\frac { dy }{ dx } =2\left( 3 \right) { x }^{ 3-1 }-6\left( 1 \right) { x }^{ 1-1 }\)
\(=6{ x }^{ 2 }-6{ x }^{ 0 }\)
\(\frac { dy }{ dx } =6{ x }^{ 2 }-6\)

(i) Equity offer to retail investors through domestic public issues.
(ii) Equity offer through global depository receipt to tap overseas markets.
(iii) Equity offer through differential pricing method when share of PSUs are sold public sector financial institutions and banks.

(i) Matrix is rectangular array of numbers systematically arranged in rows and columns within brackets.
(ii) In a matrix, if the number of rows and columns are equal, it is called a 'square matrix'.

(i) Colonialism refers to a system of political and social relations between two countries, of which one is the ruler and the other is its colony.
(ii) The ruling country not only has political control over the colony, but it also determines the economic policies of the subjugated country.

Different types of Imperfect competition are :
(i) Monopoly
(ii) Discriminating monopoly,
(iii) Bilateral monopoly,
(iv) Monopolistic competition,
(v) Oligopoly and
(vi) Duopoly.

Law of Diminishing Marginal Utility (DMU) :
"The additional benefit which a person derives from a given increase of his stock of a thing, diminishes with every increase in the stock that he already has." states Marshall.

(i) The term "External Economies to scale" refers to changes in any factor outside the firm causing an improvement in the production process. This can take place in the case of industry also.
(ii) These are the advantages enjoyed by all the firms in the industry due to structural growth.

The Marginal Product of a factor of Production means the addition made to the total product by employment of an additional unit of that factor. The Marginal Product may be expressed as MPP, VMP and MRP.

Statutory Liquidity Ratio refers to the amount that the commercial banks require to maintain in the form of cash or gold or government approved securities before providing credit to the customers.

Equilibrium of the firm means that the firm readies the maximum profit.
i. MC = MR.
ii. MC cuts MR curve from below (sufficient conditions).

It refers to the total cost per unit of output. It can be obtained in two ways.
i) By dividing the firm's total cost (TC) by the Quantity of output (Q).
ATC (or) AC = TC/Q.
ii) By ATC is derived by adding together Average Fixed cost (AFC) and Average variable cost (AVC) at each level of output.
ATC = AFC + AVC.

Natural Resources
Any stock (or) reserve that can be drawn from nature is a Natural resource.
Types of Natural Resources
i) Renewable Resources than can regenerated in a given span of time forest, biomass, hydro-energies, etc.
ii) Non-renewable Resources: Resources that cannot be regenerated. Eg., fossil fuels - coal, petroleum, minerals, etc.

S.No	Nominal Income	Real Income
1.	Nominal Income refers to income expressed in terms of money	Real Income is the  amount of goods that can be purchased with money as Income
2.	It is termed as the money income	It is the purchasing power of Income (Money)

Determinants of Elasticity of demand
i) Availability of substitutes.
ii) Proportion of Consumer's Income.
iii) Number of uses of Commodity.
iv) Complementarity between goods and
v) Time.

Number of persons living per sq. km or per sq. mile

Most small scale industries are located near urban centres. They produce goods for local as well as foreign makets.

(i) This plan was started with an annual plan for 1978 - 1979
(ii) It is a continuation of the terminated fifty year plan.

124 = 68+ 8x
124 - 68 = 8x
56 = 8x

∴ x=7

(i) An Iso quant curve can be defined as the locus of points representing various combinations of two inputs capital and labour yielding the same output.
(ii) The Iso quant is also called as the "Equal product curve" (or) The "Iso-Product curve".

(i) Perfectly Elastic Demand (E_p = \(\infty\))
(ii) Perfectly Inelastic Demand (E_p = 0)
(iii) Relatively Elastic Demand (E_p > 1)
(iv) Relatively Inelastic Demand (E_p < 1)
(v) Unitary Elastic Demand (E_p = 1)

(i) In reality, the factors of production are not homogeneous.
(ii) In practice, factors cannot be substituted for each other.
(iii) This theory is applicable only in the long run.

(i) Giffen goods: Sir Robert Giffen explained the exceptional nature of inferior goods. So these inferior goods (eg) ragi are called Giffen goods.
(ii) When the price of an inferior good falls, the poor will buy less and vice versa.
(iii) It is an exception to the law of demand.

(i) Tamilnadu is the largest textile hub of India.
(ii) The textile industry plays a significant role in the Indian economy by providing direct employment to an estimated 35 million people and thereby contributing 4% of GDP and 35% of gross export earnings.

Tamil Nadu stands third position next only to Kerala state and Puducherry Union Territory in sex ratio.

(i) Large population
(ii) Increasing prices of essential goods.
(iii) Lack of infrastructure.
(iv) Inadequate employment opportunities.
(v) Economic Disparities.

(i) Ends refer to wants, Human beings have unlimited wants.
(ii) Means are limited.
(iii) The scarce means time and money are utilized in alternative uses.

(i) Marginal Revenue is the addition made to the total revenue by the sale of an additional unit of a commodity.
(ii) MR_n = TR_n - TR_n-1

Elasticity of supply is the relative change in supply in response to a relative change in price. If S is supply, the supply function is S = f(p)
The formula for elasticity of supply \(e_{\mathrm{s}}=\frac{\mathrm{P}}{\mathrm{S}} \cdot \frac{\mathrm{ds}}{\mathrm{dp}} ; \frac{\mathrm{ds}}{\mathrm{dp}}=\) slope

Longevity (measured by life expectancy at birth), Educational attainments, and Standard of living (measured by real GDP per capita).

(i) The plan aimed to double the per capita income of India in the next 10 years.
(ii) It aimed to reduce the poverty ratio to 15 % by 2012.
(iii) Its growth target was 8.0 % but it
achieved only 7.2%.

(i) Open unemployment is found among agricultural labourers, rural artisans and literate persons.
(ii) Here the unemployed people are identified as they remain without work.

Rural Development is a process of improving the rural areas, rural people and rural living.

(i) Firms will supply less at lower prices and more at higher prices.
(ii) As price of the commodity increases, the amount supplied also increases.
(iii) So, supply curve has a positive slope from left to right.

(i) Land and labour are the primary factors.
(ii) Capital and organisation are the secondary factors.

It is an enterprise with a capital investment not more than 25 lakhs.

It is the practice of travelling abroad to places of historical or cultural interest or heritage importance including churches, mosques, temples, sacred mountains & caves.

(i) Liberalization was needed because the various licensing policies were preventing economic growth.
(ii) Since the private sector was not given enough opportunities to earn more money privatization was done.
(iii) Globalization was needed because today a developed country
can grow without the help of the underdeveloped countries.

(i) There was poverty and unemployment.
(ii) In 1991 there was a severe economic crisis in the form of a serious Balance of Payments problem.
(iii) So a set of policies known as structural reforms were introduced to meet the crisis.

A person who has no power to fix the price of the product is a price taker. A seller in perfect competition is a price taker.

Market refers to a system of exchange between the buyers and the sellers of a commodity.

(i) Goods are tangible and have physical dimension.
(ii) Goods are transferable and have value in exchange.

(i) Economics means management of households.
(ii) It comes from the Greek word oikonomikos.

Liquidity preference means the preference of the people to hold wealth in the form of liquid cash rather than in non-liquid assets like bonds, securities, gold, building.

(i) Profit is earned by the entrepreneur for his entrepreneurial function.
(ii) It is the amount left with the entrepreneur after he has paid for all the other factors.

It is the payment made for the efforts, pain and sacrifices of all factor owners in production.

Cost refers to cost of production i.e. the total expenses incurred in the production of a commodity. Cost depends on output, scale of production, prices of factors.

(i) Uneconomic holdings with subdivisions and fragmentation.
(ii) Low levels of water availability for crops.
(iii) Excess population pressure on agriculture due to fewer industries.
(iv) Absence of capital and autonomy in currency policy.

Sen's 'Choice of Technique' was a research work where he argued that in a labour surplus economy, generation of employment cannot be increased at the initial stage by the adoption of capital-intensive technique.