Managerial Economic-FINAL

1
izcU/kdh; vFkZ'kkL=k
(Managerial Economics)
(Paper-X)
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M.A. Economics (Final)
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fo"k; lwph
vè;k; 1: çcU/kdh; vFkZ'kkL=k % çÑfr ,oa {ks=k 5
vè;k; 2: ekax dk vFkZ] çdkj vkSj fu/kkZjd r Ùo 20
vè;k; 3: ekax dh yksp % vFkZ] ekius dh fof/k;ka ,oa çcU/kdh; mi;ksx 40
vè;k; 4: ekax iwokZuqeku % vFkZ] mi;ksx vkSj ekius dh fof/k;k¡ 58
vè;k; 5: ekax iwokZuqeku dh fof/k;ka 69
vè;k; 6: ykxr dh fofHkUu /kkj.kk;sa 84
vè;k; 7: ykxr fl)kUr 93
vè;k; 8: mRiknu Qyu 118
vè;k; 9: ykHk&gkfu fo'ys"k.k 122
vè;k; 10: O;ogkj esa dher&fu/kkZj.k dh fof/k;ka 131
vè;k; 11: lhek&dher fu/kkZj.k dk fl)kUr 151
vè;k; 12: cgq mRikn dher fu/kkZj.k 160
vè;k; 13: oS/kkfud dher 162
vè;k; 14: iwath ctVu dh çÑfr vkSj leL;k,a 164
vè;k; 15: fuos'k dk ewY;kadu 166
vè;k; 16: iwath ds L=kksr 174
vè;k; 17: iwath dh ykxr 176
vè;k; 18: QeZ dk vf/kdre ykHk fl)kar 179
vè;k; 19: fcØh vf/kdre fl)kUr 182
vè;k; 20: larfq yr lao‘f) nj vf/kdre fl)kar 197
vè;k; 21: izcU/kd dh mPp mi;ksfxrk ;k fofy;elu dk izcU/kdh; fMLØh'ku ekWMy 202
vè;k; 22: lkbVZ ,oa ekpZ dk O;ogkfjd ekWMy 206

4
M.A. Economics (Final)

Paper-X
Managerial Economics
M. Marks : 100
Time : 3 Hrs.
Note:
(i) Question paper will consist of two sections A and B
(ii) Section A will consist of two compulsory questions spread over the whole of syllabus. The first
question will consist of 7 parts and the candidate will be required to attempt 5 parts. Answers will
be very short type about 35 words carrying 4 marks each. The second question will consist of 3
parts and the candidate will be required to attempt 2 parts. Answer will be short type of about 200
words carrying 10 marks each.
(iii) Section B of the paper will consist of 6 questions taking two from each unit, and the candidate will
be required to attempt 3 questions selecting one from each unit. The answers will be of full length
essay type carrying 20 marks each.
UNIT–I
Nature and Scope of Managerial Economics, Economic Theory and Managerial Economics, Market demand
and demand forecasting: Market demand, meaning, types and determination, meaning, types and
measurement of elasticity of demand, meaning and methods of demand forecasting, Survey methods-
export opinion survey method, consumers interviews methods, statistical methods-trend method, regression
method, loading indicator methods, simultaneous equation method.
UNIT–II
Theory of costs and break-even analysis. Various concepts of costs; Nature of cost functions (short and
long period); Economics and diseconomics (internal and external); Estimation of cost-output relations;
break-even analysis and its uses. Pricing Principles, policies and Practices; Limit pricing principle; Multiple
product pricing, pricing in life cycle of a product statutory pricing.
UNIT–III
Capital budgeting and investment decision. Nature of capital budgeting problems, Evaluation of investment
decisions. Sources and cost of capital. Alternative functions of business firms; Profit maximisation, sales
revenue maximisation (Baumol); balanced growth rate maximisation (mariss); managerial utility maximisation
(Wiliamson); satisfying behaviour (Cyert & March).
çcU/kdh; vFkZ'kkL=k % çÑfr ,oa {ks=k 5
UNIT—I
vè;k; 1
çcU/kdh; vFkZ'kkL=k % çÑfr ,oa {ks=k
MANAGERIAL ECONOMICS :
NATURE AND SCOPE
1950-60 ds n'kd ds ckn cM+h&cM+h Qeks± dk fodkl gqvkA Qeks± esa çcU/kdh; dk;ks± esa
tfVyrk vkbZA mRiknu Lrj] mRiknu dh xq.koÙkk] mRiknu dk LVkWd] oLrqvksa dh dher] oLrq
dh ek¡x dk vuqeku bR;kfn dqN ,slh vk£Fkd leL;k,¡ çcU/kds ds lkeus vkrh FkhA çcU/kd
ds ikl fuf'pr lk/ku gksrs Fks vkSj mUgha lk/kuksa dh lgk;rk ls QeZ dk fodkl djuk gksrk FkkA
fdlh çcU/kd dh leL;k dk dqN vklkuh ls lek/kku djus ds fy, vFkZ'kkL=k ds fl)kUrksa dk
ç;ksx gqvk] ftlls /khjs&/khjs çca/kdh; vFkZ'kkL=k dk egRo c<+kA çca/kdh; vFkZ'kkL=k orZeku
esa Applied Economics dk ,d egRoiw.kZ fo"k; gSA çcU/kdh; vFkZ'kkL=k dh ifjHkk"kk] çÑfr
vkSj {ks=k ds ?kj esa ge bl vè;k; esa xgjkbZ ls O;k[;k djsxsa A
vFkZ'kkL=k ds os lHkh fopkj tks ,d O;olk;h ds fy, vPNs vkSj mi;ksxh gks ldrs vkSj
mlds fu.kZ; ysus esa lgk;d gksrs gSa] dk ,d Øec) vè;;u çca/kdh; vFkZ'kkL=k dgykrk gSA
nwljs 'kCnksa ge ;g dg ldrs gSa fd çcU/kdh; vFkZ'kkL=k esa os lHkh vk£Fkd fopkj 'kkfey fd;s
tkus gSa tks Qeks± dks fu.kZ; ysus vkSj ;kstuk cukus esa lgk;d gksµ
çcU/kdh; vFkZ'kkL=k dks cgqr ls fofHkUu ukeksa ls iqdkjk tkrk gS tSls
1. O;olkf;d vFkZ'kkL=k
2. QeZ vkSj m|ksx dk vFkZ'kkL=k
3. O;olkf;d çcU/k dk vFkZ'kkL=k
4. çca/kd ds fy, vFkZ'kkL=k
5. O;olkf;d fu.kZ; dk vFkZ'kkL=k
ge bu fofHkUu ukeksa esa ls dksbZ ,d uke ns ldrs gSA çcU/kdh; vFkZ'kkL=k dh ,d
fuf'pr çÑfr vkSj {ks=k j[krk gS mldh O;k[;k ls igys mldh ifjHkk"kk dh O;k[;k djsxsaA
çcU/kdh; vFkZ'kkL=k dk vFkZ ,oa ifjHkk"kk
(Meaning and Definition of Managerial Economics)
bls fofHkUu vFkZ'kkfL=k;ksa us ifjHkkf"kr djus dk ç;Ru fd;k gSA ;gk¡ dqN egÙoiw.kZ
ifjHkk"kk,¡ nh tk jgh gSa %
LisIlj rFkk lhfxyeSu us viuh iqLrd ‘Managerial Economics—Decision Making
and Forward Planning’ esa bls fuEu 'kCnksa esa ifjHkkf"kr fd;k gS] ÞçcU/kdh; vFkZ'kkL=k]
vFkZ'kkL=k ds fl)kUr rFkk O;kikj i)fr dk bl mís'; ls fd;k x;k leUo; gS fd ßçcU/kdksa
dks fu.kZ; ysus rFkk Hkkoh fu;kstu djus esa lqfo/kk gksAÞ
6 çcU/kdh; vFkZ'kkL=k
bl ifjHkk"kk ds vuqlkj çcU/kdh; vFkZ'kkL=k] vFkZ'kkL=k ds fl)kUrksa rFkk O;kikj i)fr;ksa

dk leUo; gSA ;g leUo; bl mís'; ls fd;k x;k gS fd çcU/kdksa dks vius O;olk; dh
fofHkUu fØ;kvksa ds lEcU/k esa fu.kZ; ysus rFkk Hkfo"; ds lEcU/k esa fu;kstu djus esa lqfo/kk gksA
;gk¡ bl ifjHkk"kk dks le>us ds fy, nks 'kCnksa dk vFkZ le> ysuk vf/kd mi;ksxh gksxkA
çFke fu.kZ; dk;Z ,oa f}rh; Hkkoh fu;kstuuA ,d çca/k dk çeq[k dk;Z fu.kZ; ,oa Hkkoh fu;kstu
gksrk gSA fu.kZ; dk rkRi;Z nks ;k nks ls vf/kd oSdfYid ekxks± esa ls fdlh ,d dk pquko djuk
gksrk gS rFkk Hkkoh fu;kstu dk rkRi;Z Hkfo"; ds fy, ;kstuk,a cukuk gksrk gSA pquko dh
leL;k blfy, mRiUu gksrh gS fd mRiknu ds fofHkUu lk/ku&Hkwfe] Je] iw¡th] m|eh vkfn
lhfer ek=kk esa miyC/k gksrs gSa rFkk buds oSdfYid mi;ksx lEHko gksrs gSa] vr% ,d fuf'pr
y{; dks çkIr djus ds fy, fu.kZ; }kjk fofHkUu fodYiksa esa ls loksZÙke fodYi dk pquko djuk
gksrk gSA ,d ckj fuf'pr ekxZ vFkok fodYi dk pquko djus ds ckn mRiknu] dPps eky] iwt ¡ h]
Je] ewY; vkfn ds lEcU/k esa Hkkoh fu;kstu djuk gksrk gSA vr% fu.kZ; rFkk Hkkoh fu;kstu nksuksa
lkFk&lkFk pyrs gSaA
çcU/kd ds fy, fu.kZ;u rFkk Hkkoh fu;kstu dk dk;Z vR;f/kd tfVy gS] D;ksafd
O;kolkf;d bdkb;ksa dks vfuf'prrk ds okrkoj.k esa dk;Z djuk gksrk gSA O;kolkf;d bdkb;ksa
dks Hkfo"; dk iw.kZ Kku ugha gksrk gSa vr% O;kolkf;d çcU/k dks Hkwrdkyhu leadksa] orZeku
lwpukvksa rFkk Hkkoh vuqekuksa ds vk/kkj ij gh fu.kZ; ysus gksrs gSa rFkk Hkkoh fu;kstu djuk gksrk
gSA çcU/kdh; vFkZ'kkL=k çcU/kdksa dks vfuf'prrk ds okrkoj.k esa vf/kd lgh fu.kZ; ysus rFkk
Hkkoh fu;kstu djus esa lgk;rk igqapkrk gSA
MCY;w0 MCY;w0 gsUl us viuh iqLrd Managerial Economics : Analysis and Cases esa
çcU/kdh; vFkZ'kkL=k dks ifjHkkf"kr djrs gq, fy[kk gS] ÞçcU/kdh; vFkZ'kkL=k fu.kZ; ysus esa ç;ksx
gksus okyk vFkZ'kkL=k gSA ;g vFkZ'kkL=k dh ,d fof'k"V 'kk[kk gS tks fujis{k fl)kUr rFkk çcU/
kdh; O;ogkj ds chp dh ?kkVh ds lsrq&cU/ku dk dk;Z djrk gSA ;g leL;kvksa ds Li"Vhdj.k]
lwpukvksa ds laxBu ,oa ewY;kadu rFkk oSdfYid O;ogkjksa dh rqyuk esa vk£Fkd fo'ys"k.k ds
midj.kksa ds ç;ksx dks vf/kd egRo nsrk gSAß
gsUl ds vuqlkj çcU/kdh; vFkZ'kkL=k] vFkZ'kkL=k dh gh ,d fof'k"V 'kk[kk gS tks çcUèkdh;
fu.kZ;ksa esa lgk;d gksrh gSA blesa vk£Fkd fo'ys"k.k ds fofHkUu midj.kksa dks çcUèkdh; fu.kZ;ksa
ds fy, ç;ksx djus dks egRo fn;k tkrk gSA
eSdusj rFkk esfj;e] ds vuqlkj] ÞO;olkf;d ifjfLFkfr;ksa ds fo'ys"k.k gsrq vk£Fkd
jhfr;ksa dk mi;ksx gh çcU/kdh; vFkZ'kkL=k esa fufgr gSAß
eSdusvj rFkk efj;e us çcU/kdh; vFkZ'kkL=k dks ,d ,slk fo"k; cryk;k gS ftlesa
fofHkUu O;olkf;d ifjfLFkfr;ksa ds fo'ys"k.k ds fy, vk£Fkd jhfr;ksa vFkok fof/k;ksa dk ç;ksx
fd;k tkrk gSA
tksy Mhu (Joel Dean) ds vuqlkj] ÞçcU/kdh; vFkZ'kkL=k dk mís'; ;g crkuk gS fd
vk£Fkd fo'ys"k.k dk mi;ksx O;kolkf;d uhfr;ksa ds fu/kkZj.k esa dSls gks ldrk gSAß
Mhu ds vuqlkj çcU/kdh; vFkZ'kkL=k og fo"k; gS tks vk£Fkd fo'ys"k.k dk çcU/kdh;
fu.kZ;ksa esa mi;ksx djuk crkrk gSA
tsEl csV~l rFkk ts0vkj0 ik£dUl ds 'kCnksa esa ÞO;kolkf;d vFkZ'kkL=k QeZ ds vkpj.k dk
O;kogkfjd rFkk lS)kfUrd vè;;u gSAß
csV~l rFkk ik£dUl ds vuqlkj çcU/kdh; vFkZ'kkL=k esa ,d QeZ ds O;ogkj vFkok vkpj.k
dk lS)kfUrd ,oa O;ogkfjd vè;;u djrs gSaA
tkslsQ ,y0 eslh ds vuqlkj] ÞçcU/kdh; vFkZ'kkL=k çcU/k }kjk vk£Fkd fl)kUrksa dks
O;kolkf;d fu.kZ; ysus dh çfØ;k djuk gksrk gSA
ukWjeu ,Q0 n¶rh ds vuqlkj çcU/kdh; vFkZ'kkL=k esa vFkZ'kkL=k ds ml Hkkx dk lekos'k
gksrk gS ftls QeZ dk fl)kUr dgrs gS rFkk tks O;olk;h dks fu.kZ; ysus esa i;kZIr lgk;d gks
ldrk gSA
mi;qZDr ifjHkk"kkvksa dk vè;;u djus ds ckn ;g dgk tk ldrk gS fd çcU/kdh;
vFkZ'kkL=k vk£Fkd Kku dh og 'kk[kk gS ftlesa vk£Fkd fo'ys"k.k ds fl)kUrksa dk O;kolkf;d
çcU/k dh uhfr fu/kkZj.k esa ç;ksx djus gsrq vè;;u fd;k tkrk gSA ;g foKkiu vFkZ'kkL=k rFkk
çcU/k dh lhek ij fLFkr gS vkSj vFkZ'kkL=k rFkk çcU/k ds eè; lsrq&cU/ku dk dk;Z djrk gSA
Nature of Managerial Economics
çcU/kdh; vFkZ'kkL=k dh çÑfr esa lkekftd foKku vkSj dyk nksuksa ds lekos'k gksus ckr
dgh tkrh gSA
çcU/kdh; vFkZ'kkL=k ds lkekftd foKku vkSj dyk ds gksus ds dkSu&dkSu ls rRo ekStwn
gSaA mudh O;k[;k fuEu gSA
çcU/kdh; vFkZ'kkL=k ,d lkekftd foKku % çcU/kdh; vFkZ'kkL=k lkekftd foKku dh
ço‘fÙk j[krk gS D;ksafd ;g euq"; ls lEcU/k j[krk gS blds lkekftd gksus ds i{k esa rdZ fuEu
gSA
I. Øek.kr vè;;u (Systematic Study)—blesa çcU/kdksa ds vk£Fkd fØ;k,a dk
vè;;u fd;k tkrk gSA tSls
1. dSls vf/kdre ykHk dk y{; çkIr djuk A
2. de [kps± esa mRiknu fd;k tk,A
3. fdl çdkj vf/kdre o‘fÙk dh tk,A
II. oSKkfud fu;e % çcU/kdh; vFkZ'kkL=k ds dqN fu;e tSls ekax dk fu;e] iw£r dk
fu;e vkfn oSKkfud fu;e gSA ;s dkj.k vkSj ifj.kke esa lEcU/k LFkkfir djrs gSaA
III. fu;eksa dh lR;rk % vU; foKkuksa dh rjg çcU/kdh; vFkZ'kkL=k esa vius fu;eksa dh
tk¡p dh tkrh gSA tSls&?kVrs mRiknu ds fu;e] ?kVrh mi;ksfxrk dk fu;e bR;kfn lR;
fu;e ekus tkrs gSA
çcU/kdh; vFkZ'kkL=k
kkL=kµvkn'kkZRed vkSj okLrfod foKku nksuksa gSA
1. vkn'kkZRed foKku % ,d çcU/kd dks fdruk mRiknu djuk pkfg, \ fdruk
foKkiu [kpZ djuk pkfg, \ dSlh dher uhfr cukuh pkfg, \ vkfn ç'uksa ij vè;;u djrk
gSA bldk vFkZ ;g gqvk fd çcU/kd vFkZ'kkL=k dh Natureµvkn'kkZRed foKku tSlh gSA
2. okLrfod foKku % okLrfod foKku esa D;k gS \ D;k Fkk \ vkfn dk vè;;u fd;k
tkrk gSaA çcU/kdh; vFkZ'kkL=k esa bu ckrksa dk vè;;u fd;k tkrk gSA tSls&
1. mRiknu ds dkSu ls fu;e ykxw gks \
2. ykxr _.k dk vkdkj dSlk gS \
3. m|ksx esa QeZ dh fLFkfr dSlh gS \
4. nwljh Qeks± dh la[;k fdruh gS \
IV. vFkZ'kkL=k dyk ds :i esa % fdlh fuf'pr mís'; dh çkfIr ds fy, Kku dk
O;ogkfjd ç;ksx dks dyk dgk tkrk gSA çcU/kdh; vFkZ'kkL=k esa&çcU/kd vius ykHk vfèkdre
djuk pkgrk gS] ftlds fy, mldh dbZ O;ogkfjd fu.kZ; ysus iM+rs gSa vkSj fuf'pr uhfr
cukuh iM+rh gSA tSls foKkiu dk lgkjk ysukA
dher dVkSrh dk lgkjk ysuk % gkykafd dqN vFkZ'kkfL=k;ksa dk ekuuk gS fd çcU/kdh;
vFkZ'kkL=k dh çÑfr esa dyk vkSj foKku nksuksa dk esy gS ftudh fo'ks"krk,a dh fuEu O;k[;k
dh tk ldrh gSA
çcU/kdh; vFkZ'kkL=k dh çÑfr ds vuqlkj bldh fuEu fo'ks"krk,¡ nh tk ldrh gSaA
1. O;f"V vFkok lw{e vFkZ'kkL=kh; LoHkko (Micro Economics in nature)—çcU/kdh;
vFkZ'kkL=k dk LoHkko O;f"V vFkZ'kkL=kh; gksrk gS] D;ksafd blesa vè;;u dh bdkbZ O;f"V vFkZ'kkL=k
dh rjg ls ,d QeZ gksrh gSA blesa ,d QeZ fo'ks"k dh leL;kvksa dk vè;;u fd;k tkrk gSA
blesa lEiw.kZ vFkZO;oLFkk dk vè;;u ugha fd;k tk ldrk gSA blesa ,d O;fDr dh fØ;kvksa
dk Hkh vè;;u ugha fd;k tkrk gS] dsoy O;kolkf;d QeZ dk vè;;u fd;k tkrk gSA
2. ^QeZ fl)kUr* vFkok ^QeZ dk vFkZ'kkL=k* (Firm Theory or Firm Economics)—
çcU/kdh; vFkZ'kkL=k esa mu lHkh vk£Fkd fl)kUrksa] /kkj.kkvksa ,oa ekWMyksa dk vè;;u fd;k tkrk
gS ftUgsa ge ^QeZ fl)kUr* vFkok ^QeZ ds vFkZ'kkL=k* ds uke ls iqdkjrs gSaA bl ykHk fl)kar
dh foospuk Hkh dh tkrh tks vFkZ'kkL=k ds forj.k fl)kar dk ,d Hkkx gSaA blesa forj.k ds
vU; fl)karksa yxku] C;kt] etnwjh vkfn dk vè;;u ugha fd;k tkrk gSaA blesa ykHk fl)kUr
dk vè;;u blfy, fd;k tkrk gS] D;ksafd QeZ ds egÙoiw.kZ mís';ksa esa ls ,d mís'; ykHk
dekuk gksrk gSA igys QeZ dk ,dek=k mís'; ykHk dks vf/kdre djuk ekuk tkrk FkkA ijUrq
vc bl fopkj/kkjk esa ifjorZu gks x;k gSA fQj Hkh ykHk dekuk vFkok larks"kçn ykHk dekuk
QeZ dk ,d mís'; gksrk gSA
3. lef"V vFkZ'kkL=k Hkh mi;ksxh (Micro Economics is also useful)—çcU/kdh;
vFkZ'kkL=k ds fy, O;kid vFkok lef"V vFkZ'kkL=k Hkh mi;ksxh gksrk gS] D;ksafd bldk Kku ml
okrkoj.k dks cqf)eÙkkiwoZd le>us esa lgk;d gksrk gS ftlesa ,d O;kolkf;d QeZ dke djrh
gSA lef"V vFkZ'kkL=k dk Kku O;kolkf;d çcU/kdksa dks mu ckgjh 'kfDr;ksa ds lkFk vius
O;olk; dks ;Fkk lEHko loksZÙke <ax ls lek;kstu djus ds ;ksX; cukrk gS ftu ij çcU/kdksa
dk dksbZ fu;U=k.k ugha gS ijUrq muds O;olk; ds dY;k.k esa fu.kkZ;d egRo j[krh gSA ,slh
egRoiw.kZ ckgjh 'kfDr;ksa esa ljdkj dh dj uhfr] vkS|ksfxd uhfr] fons'kh O;kikj uhfr] Je
uhfr] jk"Vªh; uhfr vk; fo'ys"k.k rFkk O;kikj pØ vkfn çeq[k gSaA lef"V vFkZ'kkL=k ds os lHkh
igyw tks QeZ fo'ks"k dks çHkkfor djrs gSa] çcU/kdh; vFkZ'kkL=k ds vè;;u ds Hkkx ekus tkrs gSaA
çcU/kdh; vFkZ'kkL=kh bu egRoiw.kZ lef"V ewyd rRoksa dh mis{kk ugha dj ldrk gSA mls mu
lef"V ewyd igyqvksa dk oSKkfud fo'ys"k.k djds QeZ ds fu.kZ;ksa dks buls lek;ksftr djuk
gksrk gSA
4. o.kZukRed vFkZ'kkL=k u gksdj fu/kkZjkRed vFkZ'kkL=k (It is not descriptive Economics
but determinant Economics)—çcU/kdh; vFkZ'kkL=k dk LoHkko o.kZukRed vFkZ'kkL=k u
gksdj fu/kkZjkRed vFkZ'kkL=k gSA ;g fofHkUu pjksa dk o.kZu u djds mudk fuèkkZj.k djus okyk
fo"k; gSA vk£Fkd fl)kar esa fofHkUu çdkj ds fu;eksa dk çfriknu fd;k tkrk gS ijUrq muds
ckjs esa mfpr&vuqfpr dk fu.kZ; ugha fy;k tkrk gSA çcU/kdh; vFkZ'kkL=k esa fofHkUu pjksa ds
eè; ik;s tkus okys lEcU/kksa ds ckjs esa fu.kZ; fd;k tkrk gSA mnkgj.k ds rkSj ij vk£Fkd
fl)kar esa ekax ds fu;e dk vè;;u fd;k tkrk gS rc ;g crk;k tkrk gS fd ewY; c<+us ij
ekax ?kVrh gS rFkk ewY; ?kVus ij ekax c<+rh gS ijUrq ogka ;g fopkj ugha fd;k tkrk gS fd ekax
esa tks ifjorZu gksrk gSa] og vPNk gS vFkok cqjkA ijUrq çcU/kdh; vFkZ'kkL=k esa ;g fu/kkZj.k
fd;k tkrk gS fd QeZ ds fy, ;g ifj.kke vPNk gS vFkok cqjkA
çcU/kdh; vFkZ'kkL=kh fofHkUu fu.kZ;ksa ds QeZ ij iM+us okys vPNs ,oa cqjs çHkkoksa dh O;k[;k
djrk gSA vr% çcU/kdh; vFkZ'kkL=k lS)kafrd fo"k; u gksdj O;kogkfjd mi;ksfxrk dk fo"k;
gSA
mi;qZDr fo'ks"krkvksa ds vfrfjDr çcU/kdh; vFkZ'kkL=k dh dqN vU; fo'ks"krk,¡ Hkh nh tk
ldrh gS %
5. lS)kfUrd f'k{k.k dh vis{kk dsl fof/k vf/kd mi;ksxh (Case Study method is
more useful)—çcU/kdh; vFkZ'kkL=k dk f'k{k.k lS)kafrd u gksdj fdl oLrq&fLFkfr ij
vkèkkfjr gksus ij vf/kd mi;ksxh gksrk gSA tSlk fd iwoZ esa crk;k tk pqdk gS fd çcU/kdh;
vFkZ'kkL=k lS)kafrd fo"k; u gksdj O;kogkfjd mi;ksfxrk dk fo"k; gS] vr% çcU/kdh; vFkZ'kkL=kh
bl ckr ds fy, vH;Lr gksus pkfg;s fd os fofHkUu ifjfLFkfr;ksa esa çcU/kdksa dks lgh fu.kZ; ysus
esa lgk;rk igqapk ldsaA
çcU/kdh; vFkZ'kkL=k dks fo'ofo|ky;ksa vFkok çcU/k laLFkkuksa esa dsl fof/k }kjk i<+k;k
tkuk pkfg, vFkkZr~ fo|k£Fk;ksa ds lkeus O;kolkf;d QeZ dh leL;k j[kh tk; rFkk mls
çcUèkdh; vFkZ'kkL=k dh fof/k;ksa }kjk gy djds fn[kk;k tk;] ftlls fo|kFkhZ Hkfo"; esa tc
çcU/kd cusa rks os viuh QeZ dh okLrfod leL;kvksa dks gy dj ldsaA lS)kfUrd f'k{k.k
O;kogkfjdrk ls nwj gksrk gS vr% mldh QeZ ds fy, fo'ks"k mi;ksfxrk ugha gksrh gSA
6. vf/kd ifj"Ñr (More refined)—çcU/kdh; vFkZ'kkL=k vk£Fkd fl)kUr dh rqyuk esa
vf/kd ifj"Ñr gS rFkk blds vUrxZr fo'ys"k.k ds fy, vk/kqfud xf.krh; rFkk vU; oSKkfud
midj.kksa dh vf/kd lgk;rk yh tkrh gSA
vk£Fkd fl)kUr vR;f/kd vokLrfod ekU;rkvksa ij vk/kkfjr gksrs gS tcfd çcU/kdh;
vFkZ'kkL=k ds ekWMy vf/kd O;kogkfjd ,oa oSKkfud gksrs gSaA çcU/kdh; vFkZ'kkL=k dh /kkj.kk;sa
vfuf'prrkvksa ds vUrxZr Hkh çcU/kdksa dks mi;ksxh fu.kZ; ysus esa lgk;rk igqapkrh gSA
O;kolkf;d çcU/k esa vFkZ'kkL=k ds mi;ksx ds igyw
(Aspects of Application of Economics in Business Management)
O;kolkf;d çcU/k esa vFkZ'kkL=k ds mi;ksx ds çeq[k igyw fuEufyf[kr gSa %
(1) çcU/kdh; vFkZ'kkL=k ijEijkxr lS)kfUrd /kkj.kkvksa rFkk okLrfod O;kolkf;d
O;ogkj rFkk n'kkvksa ds eè; leUo; LFkkfir djrk gSA vk£Fkd fo'ys"k.k esa dqN ekWMy
(Model) cuk;s tkrs gSa rFkk ;s ekWMy dqN ekU;rkvksa ij vk/kkfjr gksrs gSA bu ekWMyksa ds
vkèkkj ij QeZ ds O;ogkj ds lEcU/k esa dqN fu"d"kZ fudkys tkrs gSA ijUrq bl çdkj ds
fu"d"kZ bu ekU;rkvksa ds dkj.k vokLrfod cu tkrs gSa D;ksafd okLrfod thou esa QeZ ftl
çdkj dk O;ogkj djrh gS mldk larks"ktud Li"Vhdj.k bu fl)kUrksa ls ugha gks ikrk gSA
vr% çcU/kdh; vFkZ'kkL=k ds }kjk bu vk£Fkd ekWMyksa dks vf/kd ljy ekU;rkvksa ij vk/kkfjr
cukdj okLrfod O;kolkf;d O;ogkjksa ds vf/kd vuqdwy cukus dh vko';drk gSA çcU/kdh;
vFkZ'kkL=k ;g dk;Z djrk gSA bl rF; dks ,d ;k nks mnkgj.kksa dh lgk;rk ls Li"V fd;k
tk ldrk gSA
mnkgj.k ds rkSj ij O;f"Vewyd vk£Fkd fo'ys"k.k esa ;g eku fy;k tkrk gS fd QeZ dk
mís'; vf/kdre ykHk v£tr djuk gksrk gS vkSj bl lH;rk ds vk/kkj ij ;g crk;k tkrk gS
fd QeZ fdruk mRiknu djsxh rFkk mls fdl ewY; ij cspsxhA ijUrq] okLrfod thou esa
çR;sd QeZ dk mís'; lnSo ykHk vf/kdre djuk ugha gksrk gS vkSj bl rjg QeZ fl)kar QeZ
ds okLrfod O;ogkj dk larks"ktud Li"Vhdj.k çnku djus esa vlQy jgrk gSA
(2) çcU/kdh; vFkZ'kkL=k O;kolkf;d çcU/k esa vFkZ'kkL=k ds ç;ksx dk {ks=k vk£Fkd
lEcUèkksa dks vuqekfur djus ds :i esa çLrqr djrk gSA tSls oLrq dh ekax lEcU/kh yksp dks
ekiuk vFkkZr~ oLrq dh vk; yksp] ewY; yksp] frjNh yksp rFkk çksRlkgu yksp fdruh gSA oLrq
dh ykxr rFkk mRiknu esa D;k lEcU/k gS rFkk oLrq ds ewY; rFkk vkxe esa D;k lEcU/k gS vkfn
dk vuqeku djus esa vk£Fkd fo'ys"k.k lgk;d gksrk gSA bu vk£Fkd lEcU/kksa dk mi;ksx
O;kolkf;d iwokZuqekuksa ds fy, fd;k tkrk gSA vf/kdka'k Hkkoh fu;kstu iwokZuqekuksa ij vk/kkfjr
gksrk gSA
(3) vk£Fkd ek=kkvksa dk la[;k ds :i esa mudh lEHkkoukvksa ds lHkh iwokZuqeku djus esa
Hkh vk£Fkd fl)kUr çcU/kdksa dks lgk;rk igqapkrs gSaA tSlkfd ge lc tkurs gSa fd lkekU;r;k
çR;sd O;kolkf;d çcU/kd dks vfuf'prrk ds okrkoj.k esa dke djuk iM+rk gS vr% mls Hkkoh
iwokZuqeku dh vko';drk gksrh gS ftlls og Hkkoh iwokZuqekuksa ds vkadM+ksa ds vkèkkj ij fu.kZ; ys
ldsa rFkk Hkkoh fu;kstu dj ldsA çcU/kdh; Hkkoh ekax] ewY;] ykxr] iw¡th] ykHk vkfn dk
la[;k ds :i esa mudh lEHkkouk ds lkFk iwokZuqeku yxkrk gSA ;s iwokZuqeku fu.kZ; ds fy,
egRowi.kZ gksrs gSA
(4) çcU/kdh; vFkZ'kkL=k O;kolkf;d çcU/kd] dks Hkkoh fu;kstu ,oa fu.kZ; dk;Z esa
vk£Fkd ek=kkvksa ds mi;ksx djus rFkk O;kolkf;d uhfr fu/kkZj.k esa lgk;rk igaqpkrk gSA Hkkoh
iwokZuqekuksa ds vk/kkj ij O;kolkf;d çcU/kd Hkfo"; ds ykHk] ewY;] ykxr] iw¡th vkfn ds lEcUèk
esa viuh uhfr fu/kkZj.k djrk gS rFkk miyC/k fodYiksa esa ls mi;qDr fodYi dks pqurk gSA
çcUèkdh; vFkZ'kkL=k çcU/k ds lkeus ,d ifj.kkeRed fp=k çLrqr djrk gS rFkk Li"V djrk gS
fd dkSu&dkSu ls ekxZ miyC/k gSa] muds D;k lEHko ifj.kke gksaxs rFkk çR;sd ifjek.k djrk gS
fd dkSu&dkSu ls ekxZ miyC/k gSa] muds D;k lEHko ifj.kke gksxsa rFkk çR;sd ifj.kke dh D;k
lEHkkouk gSA çcU/kd bl fp=k ds vk/kkj ij fdlh ,d mi;qDr ekxZ dks pqurk gSA
(5) çcU/kdh; vFkZ'kkL=k O;kolkf;d çcU/kd dks ml cká okrkoj.k dks le>us rFkk
O;olk; dks mlds lkFk lek;ksftr djus dk ekxZ crkrk gS ftlesa ,d QeZ dks dk;Z djuk
iM+rk gSA mnkgj.kkFkZ O;kikj pØ] jk"Vªh; vk; esa mrkj&p<+ko] fons'kh O;kikj] djkjksi.k] Je
dkuwu] Je lEcU/k] ,dkf/kdkj fojks/kh vf/kfu;e] vkS|ksfxd ykblsfUlax] ewY; fu;U=k.k vkfn ds
lEcU/k esa ljdkjh uhfr;ksa dk O;olk; ij D;k çHkko iM+sxk rFkk QeZ dh uhfr;ksa dks fdl
çdkj buds lkFk lek;ksftr fd;k tk, vkfn dh tkudkjh çcU/kdh; vFkZ'kkL=k nsrk gSA
çcU/kdh; vFkZ'kkL=k dk {ks=k
(Scope of Managerial Economics)
çcU/kdh; vFkZ'kkL=k dk dk;Z{ks=k cgqr foLr‘r gS D;ksafd blesa os lHkh vk£Fkd fl)kUr]
vo/kkj.kk,¡] ekWMYl rFkk fof/k;k¡ lfEefyr gksrh gSa tks O;kolkf;d Qeks± ds çcU/kdksa dks fu.kZ;u
rFkk Hkkoh fu;kstu esa lgk;d gksrh gSaA dqN vFkZ'kkL=kh vkWijs'kUl fjlpZ (Operations
Research) dh fofHkUu fof/k;ksa dks Hkh bldh fo"k; oLrq esa 'kkfey dj ysrs gSaA lkekU;r;k
vk£Fkd fo'ys"k.k ds fuEu igyw blds dk;Z&{ks=k esa vkrs gSa %
(1) ek¡x fo'ys"k.k ,oa iwokZuqeku (Demand Analysis and Forecasting)—,d
O;kolkf;d QeZ mRiknu ds lk/kuksa dks ,slh oLrqvksa esa cnyus dk dk;Z djrk gS ftUgsa cktkj
esa eqæk ds cnys cspk tk ldsA QeZ vfuf'prrk ds okrkoj.k esa Hkkoh iwokZuqekuksa ds vkèkkj ij
gh dk;Z djrh gSA çcU/kdksa ds fu.kZ; ekax ds lgh vuqekuksa ij fuHkZj djrs gSA çcU/kdksa ds
fy, QeZ dh mRiknu lkjf.k;ksa dk fu/kkZj.k djus rFkk mRiknu ds lk/kuksa dks mRiknu dk;Z esa
ç;qDr djus ls iwoZ ;g vR;Ur vko';d gS fd Hkkoh foØ; ds lgh iwokZuqeku yxk;s tk,aA Hkkoh
foØ;&iwokZuqeku QeZ ds çcU/kdksa dks QeZ dh cktkj esa fLFkfr cuk;s j[kus] lqn‘<+ djus vFkok
ykHk c<+kus esa ekxZn'kZu djrs gSaA ekax fo'ys"k.k ,oa iwokZuqeku çcUèkdh; fu.kZ; rFkk Hkkoh
fu;kstu esa lgk;d gksrs gSaA ekax fo'ys"k.k ,oa iwokZuqeku ds vUrxZr bl ckr dk vè;;u fd;k
tkrk gS fd QeZ dh oLrq fo'ks"k dh cktkj esa orZeku esa vkSlru fdruh ekax gS] ;g ekax
fdu&fdu rRoksa ls çHkkfor gksrh gS] cktkj esa oLrq ds dkSu&dkSu ls LFkkukiUu miyC/k gS rFkk
oLrq fo'ks"k dh Hkkoh ekax fdruh gksxhA QeZ ds ekax fo'ys"k.k ,oa iwokZuqeku lEcU/kh fu.kZ; lgh
gksus ij QeZ vf/kd ykHk dekrh gS rFkk fu.kZ; xyr gksus ij gkfu mBkrh gSA
(2) mRiknu fu;kstu ,oa çcU/k (Production, Planning and Management)—
çR;sd QeZ fdlh fo'ks"k mRiknu dk;Z esa yxh gksrh gS] vr% mls mRiknu fu;kstu ,oa çcUèk
djuk gksrk gSA QeZ dks vius lk/kuksa rFkk muls mRikfnr dh tkus okyh oLrqvksa dks è;ku esa
j[kdj ykHknk;d fu.kZ; djus gksrs gSA vius dkSu ls lk/kuksa dks] fdruh ek=kk esa] dkSulh oLrq
ds mRiknu esa yxk;sa ftlls QeZ U;wure ykxr ij vf/kdre mRiknu çkIr dj ldsaA
çcUèkdksa dks mRiknu dk;Z tks fd vknku&çnku ds ikjLifjd HkkSfrd lEcU/k dh O;k[;k djrk
gS] dk leqfpr Kku gksuk pkfg,A çcU/kdh; vFkZ'kkL=k esa mRiknu çdk;Z (Production
Function) dk foLrkj ls vè;;u fd;k tkrk gSA vYidkyhu mRiknu çdk;Z esa mRiknu ds
fu;eksa ,oa nh?kZdkyhu mRiknu çdk;Z esa iSekus ds çfrQy dk foospu fd;k tkrk gSA
(3) ykxr fo'ys"k.k (Cost Analysis)—çcU/kdksa dk ,d egÙoiw.kZ dk;Z QeZ ds ykHk dks
vf/kdre djus ds fy, ykxrksa dh O;k[;k djuk rFkk fu;U=k.k djuk gksrk gSA ykxrsa vusd
çdkj dh gksrh gS tSls lhekUr ykxr] ifjorZu'khy ykxr] fLFkj ykxr vkfnA bu fofHkUu
ykxrksa dks de djds gh ykHk vf/kd dek;k tk ldrk gSA ykxrksa dks mlh le; de fd;k
tk ldrk gS tc ykxrksa dh ço‘fÙk rFkk mudks çHkkfor djus okys rRoksa ds lEcUèk esa [kkst ,oa
vuqlU/kku dk;Z fd;k tk,A vusd ckj çcU/kdksa dks ykxrksa dks çHkkfor djus okys leLr rRoksa
dk Kku ugha gksrk gS vFkok mu ij çcU/kdksa dk fu;U=k.k ugha gksrk] vr% mUgsa ykxr lEcUèkh
vfuf'prrk ds okrkoj.k esa dk;Z djuk gksrk gSA vk£Fkd ykxrksa dk fo'ys"k.k ykHk&fu;kstu
rFkk mfpr ewY; uhfr fu/kkZj.k esa Hkh lgk;d fl) gksrk gSA ykxr fo'ys"k.k ds vUrxZr ykxr
vo/kkj.kk;sa rFkk oxhZdj.k ,oa ykxr o mRiknu lEcU/k lfEefyr gksrs gSaA
(4) ewY; fu/kkZj.k lEcU/kh uhfr;k¡ ,oa O;ogkj (Pricing Policies and Practices)—
ewY; QeZ ds fy, vkxe gksrk gSA vr% ewY; dk fu/kkZj.k çcU/kdh; vFkZ'kkL=k dk ,d egRoiw.kZ
fo"k; gSA QeZ dh lQyrk ewY; fu/kkZj.k lEcUèkh fu.kZ;ksa ij fuHkZj djrh gSA blds vUrxZr
cktkjksa ds fofHkUu çk:iksa esa ewY; uhfr;ksa rFkk O;ogkjksa dk vè;;u fd;k tkrk gSA ewY;
iwokZuqekuksa dk vè;;u Hkh blh dk Hkkx gksrk gSA foHksnkRed ewY; fu/kkZj.k rFkk fofHkUu çdkj
NwV ;kstuk,¡ Hkh ewY; fu/kkZj.k lEcU/kh uhfr ,oa O;ogkj ds vUrxZr gh vkrh gSA QeZ dh
vYidkyhu rFkk nh?kZdkyhu ewY; uhfr;ksa dk vè;;u Hkh blesa fd;k tkrk gSA
(5) ykHk çcU/k (Profit Management)—O;kolkf;d Qeks± dh LFkkiuk ykHk dekus ds
mís'; ls dh tkrh gSA nh?kZdky esa QeZ dh lQyrk dk ekiu ykHk ds vk/kkj ij gh gksrk gSA
ykHk vkxe rFkk ykxrksa ij fuHkZj djrk gSA ykxr rFkk vkxe vusd dkjdksa ls çHkkfor gksrs
gS ftuesa ls dqN dkjd rks QeZ ds fy, vkUrfjd gksrs gSa rFkk dqN ckáA ;fn Hkfo"; ds ckjs
esa QeZ dks bu dkjdksa dk lgh Kku gksrk gS rks ykHk dk fo'ys"k.k cgqr ljy gksrk gSA ijUrq
QeZ vfuf'prrk ds okrkoj.k esa fofHkUu vuqekuksa ,oa vk'kkvksa ds vk/kkj ij dk;Z djrh gSA
blfy, ykHk dk fu;kstu ,oa çcU/k çcU/kdh; vFkZ'kkL=k dk ,d egRoiw.kZ ,oa tfVy dk;Z gSA
blds vUrxZr ykHk lEcU/kh /kkj.kkvksa] ykHk fu;kstu] ykHk fu;kstu fof/k;ksa tSls le&foPNsn
fo'ys"k.k (Break-even analysis), ykHk&ekiu rFkk ykxr fu;U=k.k dk vè;;u fd;k tkrk gSA
(6) iw¡th çcU/k (Capital Management)—O;kolkf;d Qeks± dh le;≤ ij iw¡th
dk fofu;kstu djuk gksrk gSA iw¡th fofu;kstu lEcU/kh fu.kZ;ksa esa ,d vksj Hkkjh jkf'k;ksa dk ç'u
gksrk gS rFkk nwljh vksj buesa ,d ckj fofu;kstu dj nsus ds ckn fu.kZ;ksa dks okil ifjo£rr
djuk cgqr dfBu gksrk gSA ;s fu.kZ; loksZPp Lrj ij gh fd;s tkrs gSA çcU/kdh; vFkZ'kkL=k
esa iw¡th çcU/kd cgqr egÙoiw.kZ gSA blesa iw¡th dh ykxr] iw¡th ij ykHk&ns;rk rFkk fofHkUu
ifj;kstukvksa esa ls mi;qZDr ifj;kstuk ;k ifj;kstukvksa dk pquko lfEefyr gksrk gSA
(7) vfuf'prrk ds vUrxZr fu.kZ; fl)kUr (Decision Theory Under Uncertainty)—
çcU/kdksa dks cgqr ls fu.kZ; vfuf'prrk] ds okrkoj.k esa ysus gksrs gSaA vfuf'prrk,¡ vusd
çdkj dh gksrh gSa tSls ekax dh vfuf'prrk] ykxr dh vfuf'prrk] iwt ¡ h dh vfuf'prrk vkfnA
bu vfuf'prrkvksa ds dkj.k fu.kZ; çfØ;k vf/kd tfVy gks xbZ gSA vfuf'prrk dh fLFkfr esa
fu.kZ; ysus ds fy, vusd lkaf[;dh; fof/k;ksa dk fodkl fd;k x;k gSA vk£Fkd fo'ys"k.k ds
;U=kksa dks bl rjg ls ifj'kksf/kr fd;k tk jgk gS fd ftlls vfuf'prrkvksa dks è;ku esa j[krs
gq, fu.kZ; çfØ;k dks rdZiw.kZ ,oa oSKkfud vk/kkj çnku fd;k tk ldsA
(8) foØ; çksRlkgu ,oa O;wg&jpuk (Sales Promotion and Strategy)—,d O;kolkf;d
çcU/kd dks foØ;&O;wg jpuk ds çfr Hkh i;kZIr è;ku nsuk gksrk gSA foØ; ykxrsa foØ;
O;wgjpuk ij fuHkZj djrh gSA foØ; O;wg jpuk ij gh foØ; dh ek=kk fuHkZj djrh gSaA foØ;
çksRlkgu ij fdruk O;; fd;k tk,] foKkiu dh ek=kk] vkdkj ,oa çdkj D;k gks] ;g lc
çcUèkd dks ns[kuk gksrk gSA çcU/kdh; vFkZ'kkL=k esa foØ; ykxrksa] foØ; çksRlkgu ;kstukvksa
,oa foØ; O;wg jpuk o O;oLFkk dk vè;;u djuk gksrk gSA
mi;qZDr vè;;u ls Li"V gksrk gS fd çcU/kdh; vFkZ'kkL=k esa ,d O;kolkf;d QeZ ds
lkeus mifLFkr gksus okyh fofHkUu vfuf'prrkvksa ls lEcfU/kr leL;kvksa dk vè;;u fd;k
tkrk gSA ;s ekax dh vfuf'prrk,¡] ykxr dh vfuf'prrk,¡] vkxe vFkok ewY; dh vfuf'prrk,¡
rFkk ykHk dh vfuf'prrk,¡ gksrh gSA çcU/kdh; vFkZ'kkL=k QeZ dks bu vfuf'rrkvksa dk lkeuk
djus rFkk vko';d lek;kstu djus dk jkLrk crykrk gSA
çcU/kdh; vFkZ'kkL=k ,oa vk£Fkd fl)kar
(Managerial Economics & Economics Theory)
çcU/kdh; vFkZ'kkL=k ds LoHkko rFkk bldh fo'ks"krkvksa ds vè;;u ds vk/kkj ij bldh
vFkZ'kkL=k ls fuEu fHkUurk,a Li"V dh tk ldrh gSa %
(1) vFkZ'kkL=k esa vk£Fkd fl)kUrksa dk foospu fd;k tkrk gS tcfd çcU/kdh; vFkZ'kkL=k
esa bu fl)kUrksa dk O;kolkf;d QeZ dh leL;kvksa ds lek/kku gsrq ç;ksx fd;k tkrk gSA
(2) çcU/kdh; vFkZ'kkL=k dk LoHkko O;f"V vFkok lw{e vFkZ'kkL=kh; gS tcfd vFkZ'kkL=k dk
LoHkko O;f"V vFkZ'kkL=k rFkk lef"V vFkZ'kkL=k nksuksa gh çdkj dk gksrk gSA
(3) çcU/kdh; vFkZO;oLFkk esa QeZ dh leL;kvksa dk vè;;u fd;k tkrk gSA ;g O;f"V&
ewyd vè;;u gS ijUrq bldk lEcU/k O;fDr fo'ks"k dh leL;kvksa ls ugha gksrk gSA tcfd
vFkZ'kkL=k dk lEcU/k O;fDr rFkk QeZ nksuksa ls gh gksrk gSA
(4) çcU/kdh; vFkZ'kkL=k esa ykHk fl)kUr dk Hkh vè;;u fd;k tkrk gS ijUrq forj.k ds
vU; fl)kUrksa dh blesa fo'ks"k mi;ksfxrk ugha gksrh gS tcfd lw{e vFkZ'kkL=k esa forj.k ds lHkh
fl)kUrksa dk vè;;u fd;k tkrk gSA
(5) vFkZ'kkL=k ds fl)kUr rFkk /kkj.kk,a O;kogkfjdk ls nwj] ekU;rk ç/kku rFkk dkYifud
gksrh gS tcfd çcU/kdh; vFkZ'kkL=k dh vo/kkj.kk,a O;kogkfjd gksrh gSaA
(6) çcU/kdh; vFkZ'kkL=k] vFkZ'kkL=k dh gh ,d fof'k"V 'kk[kk gS vr% vFkZ'kkL=k vf/kd
O;kid fo"k; gSA
(7) vFkZ'kkL=k vf/kd iqjkuk fo"k; gS] tcfd çcU/kdh; vFkZ'kkL=k dsoy f}rh; fo'o;q)
ds ckn fodflr fo"k; gSA
(8) vFkZ'kkL=k o.kZukRed (Descriptive) fo"k; vf/kd gksrk gS] tcfd çcU/kdh; vFkZ'kkL=k
funsZ'kkRed (Prescriptive) fo"k; vf/kd gksrk gSA
çcU/kdh; vFkZ'kkL=k dk vU; fo"k;ksa ls lEcU/k
(Relation between Managerial Economics and Other Subjects)
çcU/kdh; vFkZ'kkL=k dk vU; fo"k;ksa fo'ks"kr% vFkZ'kkL=k] lkaf[;dh] xf.kr fl)kUr] ys[kk
'kkL=k vkfn ls xgjk lEcU/k gSA ,d ;ksX; ,oa çf'kf{kr çcU/kdh; vFkZ'kkL=kh bu lHkh fo"k;ksa
dh vo/kkj.kkvksa ,oa fof/k;ksa dks çcU/kdh; leL;kvksa ds gy ds fy, lekdfyr djrk gSA
çcU/kdh; vFkZ'kkL=k ,oa lw{e vFkZ'kkL=k (Managerial Economics and Micro
Economic Theory)—lw{e vFkZ'kkL=k çcU/kdh; vFkZ'kkL=k dh vo/kkj.kkvksa rFkk fo'ys"k.k
lEcU/kh midj.kksa ds fy, eq[; L=kksr gSA çcU/kdh; vFkZ'kkL=k esa ekax dh yksp] lhekUr ykxr]
vYi ,oa nh?kZdky] cktkj çk:i] vkfn lw{e vFkZ'kkL=kh; /kkj.kk,a vR;Ur egRowi.kZ gSA
çcUèkdh; vFkZ'kkL=k esa ewY; fl)kUr ds fofHkUu ekWMyksa dk Hkh mi;ksx fd;k tkrk gSA ijUrq
blesa lw{e vFkZ'kkL=k ds dqN egRoiw.kZ fopkjksa fo'ks"kr% mnklhurk oØ fo'ys"k.k dk mi;ksx
ugha fd;k tkrk gSA
çcU/kdh; vFkZ'kkL=k ,oa lef"V vFkZ'kkL=k (Managerial Economics and Macro
Economics Theory)—çcU/kdh; vFkZ'kkL=k esa lef"V vFkZ'kkL=k dk ;ksxnku eq[;:i ls
iwokZuqeku ds {ks=k esa gSA vk/kqfud vk; ,oa jkstxkj fl)kUr dk lkekU; O;kolkf;d n'kkvksa ds
iwokZuqeku esa lh/kk egRo gSA lkekU;r;k ,d O;fDrxr QeZ dk Hkfo"; lkekU; O;kolkf;d
n'kkvksa ij fuHkZj djrk gS vr% O;fDrxr QeZ ds iwokZuqekuksa ij fuHkZj djrs gSA
çcU/kdh; vFkZ'kkL=k ,oa lkaf[;dh (Managerial Economics and Statistics)—çcUèkdh;
vFkZ'kkL=k ds fy, lkaf[;dh cgqr mi;ksxh gSA çFke çcU/kdh; vFkZ'kkL=k esa vk£Fkd lkekU;rkvksa
(Economic generalization) dh çk;ksxkfJr tkap (Empirical testing) lkaf[;dh; fof/k;ksa }kjk
gh dh tkrh gSA bu vk£Fkd lkekU;rkvksa dh jpuk esa fuxeu rdZ dk egÙoiw.kZ ;ksxnku gSA
ijUrq ;s lkekU;rk,a O;ogkj esa rHkh ekU; gksrh gS tc budh okLrfod fo'o ds vkadM+ksa ls tkap
djds bUgsa lgh ik;k tk;sA f}rh; çcU/kdh; vFkZ'kkL=k esa fu.kZ; djus ds fy, fofHkUu
ikfjekf.kd vkadM+ksa dk Øec) rFkk Qyuh; lEcU/kksa ds :i esa çLrqfrdj.k vko';d gksrk gSA
;g dk;Z lkaf[;dh }kjk gh lEHko gksrk gSA mnkgj.k ds rkSj ij ,d QeZ ds ewY; lEcU/kh
fu.kZ; ekax rFkk ykxrksa ij vk/kkfjr gksus ds fy, ;g vko';d gS fd QeZ dks ekax rFkk ykxr
Qyu lkaf[;dh }kjk miyC/k gksaA vfUre çcU/kdksa dks fu.kZ; djus ds fy, fofHkUu pjksa ds ckjs
esa iw.kZ tkudkjh miyC/k ugha gksrh gSa vkSj mUgsa Hkkoh ?kVukvksa dh vfuf'prrkvksa ls fucVuk
iM+rk gSA ,slh ?kVukvksa dh vfuf'prrkvksa ls fucVus ds fy, lEHkkouk fl)kUr tks lkaf[;dh
dk ,d Hkkx gS] rdZ çnku djrk gSA
çcU/kdh; vFkZ'kkL=k ,oa xf.kr (Managerial Economics and Mathematics)—
çcUèkdh; vFkZ'kkL=k ls xf.kr dk fudV dk lEcU/k gSA çcU/k vFkZ'kkL=k dh ?kVukvksa dks vfèkd
'kq)rk xf.krh; midj.kksa }kjk gh çkIr gqbZ gSA çcU/kdh; vFkZ'kkL=k dh LoHkko ls gh ekiuh;
gSA blds vUrxZr fofHkUu vk£Fkd lEcU/kksa dk eki ,oa iwokZuqeku fd;k tkrk gS rFkk bUgsa
çcUèkdh; fu.kZ; rFkk Hkkoh fu;kstu ds fy, ç;ksx fd;k tkrk gSA çcU/kdh; vFkZ'kkL=k
vR;fèkd xf.krkRed gks x;k gSA çcU/kdh; vFkZ'kkL=k esa vkWijs'kUl fjlpZ (OR) dk vR;f/kd
egRo gSA vkWijsUl fjlpZ LoHkko ls xf.krh; gh gSA
çcU/kdh; vFkZ'kkL=k ,oa ys[kk'kkL=k (Managerial Economics and Accounting)—
çcU/kdh; vFkZ'kkL=k ,oa ys[kk'kkL=k esa ?kfu"B leU/k gSA ys[kk'kkL=k dk lEcU/k O;kolkf;d QeZ
dh foÙkh; fØ;kvksa ds ys[kk j[kus ls gksrk gSA ;s ys[ks lkekU;r;k Hkwrdkyhu fØ;kvksa ls
lEcfU/kr gksrs gSA çcU/kdh; vFkZ'kkL=kh vius fu.kZ;ksa ds fy, vko';d lkexzh ftu L=kksrksa ls
çkIr djrk gS muesa ,d L=kksr ys[kk'kkL=k gSA ys[kk'kkL=k ds vkadM+ksa dk çcU/kdh; fu.kZ;ksa rFkk
Hkkoh fu;kstu esa ç;ksx djus gsrq ;g vko';d gS fd mudk lko/kkuhiwoZd fo'ys"k.k] fu:i.k
rFkk lek;kstu fd;k tk,A ,d mnkgj.k }kjk çcU/kdh; vFkZ'kkL=k rFkk ys[kk'kkL=k ds lEcUèk
dks le>k tk ldrk gSA mnkgj.k ds rkSj ij foÙkh; fooj.kksa ls QeZ ds ykHk dks ns[kdj ;g
fu/kkZfjr fd;k tk ldrk gS fd ;g bfPNr fcUnq rd lq/kkj }kjk c<+k;k tk ldrk gS ;k ughaA
;fn c<+k;k tk ldrk gS rks O;olk; ds lq/kkj dk vkSj ;fn ugha c<+k;k tk ldrk gS rks
O;olk; dks cUn djus dk fu.kZ; fd;k tk ldrk gSA
çcU/kdh; vFkZ'kkL=k dk egÙo
(Importance of Managerial Economics)
vk/kqfud O;olk; esa çcU/kdh; vFkZ'kkL=k dk vfr egÙoiw.kZ LFkku gSA okLrfod txr
esa vk£Fkd leL;kvksa ls lacaf/kr csgrj fu.kZ; ys ikus ,oa vfxze vk;kstu gsrq bldk fo'ks"k
egÙo gSA çcU/kdh; vFkZ'kkL=k ds egÙo dks fuEufyf[kr }kjk vf/kd Li"V fd;k tk ldrk
gS %
1. lw{e O;olk; ekWMy (Important Concepts Model)—çcU/kdh; vFkZ'kkL=k csgrj
fu.kZ; fuekZ.k ds fy, dbZ midj.k vkSj rduhdsa çnku djrk gS ftlls çca/ku dks vf/kd
cf<+;k O;olk; ekWMy fuekZ.k esa lgk;rk feyrh gSA ;fn ijaijkxr vFkZ'kkL=k ds fl)kUrksa]
rduhdksa vkSj midj.kksa dks okLrfod O;olkf;d O;ogkjksa ds lkFk tksM+rk gSA
2. egÙowi.kZ /kkj.kk,a (Important Concepts)—çca/kdh; vFkZ'kkL=k O;kolkf;d leL;kvksa
dh O;k[;k vkSj lek/kku djus okyh egÙoiw.kZ /kkj.kk,a çnku djrk gSA ekax dh yksp] fLFkj
,oa ifjorZu'khy ykxrsa] vYidkyhu vkSj nh?kZdkyhu ykxrsa] volj ykxrsa] le&lhekUr
mi;ksfxrk fl)kUr tSlh /kkj.kk,a] çcU/kdh; vFkZ'kkL=kh dk tkudkjh vkSj dq'kyrk esa o‘f)
djrh gSA
3. O;kolk;h vkadM+ksa dh iw£r (Supplies of Business Data)—QeZ vius O;kolkf;d
mís'; dks è;ku esa j[krs gq, vkadM+ksa dk ladyu vkSj fo'ys"k.k djrh gSA çca/kdh; vFkZ'kkL=k
,sls vkadM+ksa dh iw£r esa lgk;d gksrk gSA
4. vk£Fkd laca/kksa dk iwokZuqeku (Predicting Economics Relationship)—vFkZ'kkL=k

vk;] ekax dh yksp vkSj ykxr&ykHk fo'ys"k.k tSls fofHkUu O;kolkf;d ?kVdksa ds chp vk£Fkd
laca/kksa dk iwokZuqeku djrk gSA ;g fu.kZ; fuekZ.k dks çHkkfor djus okys egÙoiw.kZ cká ?kVdksa
dks le>us esa Hkh lgk;d gksrk gSA
5. O;kolkf;d iwokZuqeku (Business Forcasting)—lkekU; O;kolkf;d fØ;k dk
vYidkyhu iwokZuqeku djuk çcU/kd dk eq[; dk;Z gSA O;kolkf;d vFkok ekax iwokZuqeku
djus] cktkj 'kks?k ,oa uhfr fo'ys"k.k ij vk/kkfjr O;kolkf;d n'kkvksa] ykxrksa] ykHk] iwath]
mRiknu dher vkfn esa ifjorZu dk iwokZuqeku djus esa ;g çcU/kdh; vFkZ'kkL=kh dh enn djrk
gSA
6. çcU/kdh; vuq'kklu (Managerial Discipline)—çcU/kdh; vFkZ'kkL=k csgrj çcUèkdh;
vFkZ'kkL=k csgrj çcU/kdh; vuq'kklu çniu djus dk foKku vkSj dyk gSA ;g çcU/kdh;
fu.kZ;ksa vkSj O;kolkf;d leL;kvksa ds laca/k esa vk£Fkd lko/kkuh ,oa tkudkjh c<+krk gSA
7. lalk/kuksa dk b"Vre vkoaVu (Optimal Allocation of Resources)—çcU/kdh;
vFkZ'kkL=k lalk/kuksa ds b"Bre vkoaVu esa QeZ ds O;ogkj ls lacaf/kr gSA ;g fdlh mRiknu {ks=k
esa fofHkUu fodYiksa vkSj çfr;ksxh fØ;kvksa ds chp loZJs"B fodYi dks pquus esa lgk;rk ds fy,
vko';d midj.k çnku djrk gSA
8. ,dhdj.k (Integration)—QeZ ds ml Lrj ij tgka mlds dbZ dk;Z'khy foHkkx gksrs
gS] tSls mRiknu] foi.ku] foÙk] ekuo lalk/ku] fodkl foHkkx vkfn] çcU/kdh; vFkZ'kkL=k bu
fofHkUu {ks=kksa dks ,dhÑr djrk gSA
bl çdkj] O;kolkf;d leL;kvksa dks gy djus esa çcU/kdh; vFkZ'kkL=k dk fo'ks"k egÙo
gSA
çcU/kdh; vFkZ'kkL=kh dh Hkwfedk ;k dk;Z
(Role of Functions of Managerial Economist)
og O;fDr tks çcU/kdh; vFkZ'kkL=k dk vè;;u dj çcU/ku ds vax ds :i esa fu.kZ;&fuekZ.k
esa lgk;d gksrk gS] mls çcU/kdh; vFkZ'kkL=kh dgrs gSA
fu.kZ;] fuekZ.k vkSj lwpuk ifj"dj.k (Information Processing), çcU/kdksa ds nks eq[;
dk;Z gSA foosdiw.kZ fu.kZ; ysus ds fy,] çcU/kdksa dks lwpuk çkIr djus] mlds ifj"dj.k vkSj
ç;ksx esa l{ke gksuk pkfg,A çcU/kdh; vFkZ'kkL=kh dk dk;Z çcU/kdksa dks ;g crkuk gS fd
dkSu&lh lwpuk ,d=k djuh pkfg, rFkk mldk dSls ifj"dj.k vkSj mi;ksx fd;k tk,A vr%
fu.kZ; fuekZ.k rFkk vfxze vk;kstu laca/kh leL;kvksa dks lqy>kus esa çcU/kdh; vFkZ'kkL=kh dk
egRoiw.kZ ;ksxnku gksrk gSA
çcU/kdh; vFkZ'kkL=kh ds dk;ks± dks ge nks Hkkxksa esa ckaV ldrs gSa %
1. fof'k"V dk;Z (Specific Functions)
çcU/kdh; vFkZ'kkL=kh dks dbZ fof'k"V dk;Z djus iM+rs gS tSls orZeku esa ?kkVs esa py jgh
'kk[kk dks can dj fn;k tk; ;k pyus fn;k tk,] LVksj [kqyus ds nSfud ?kaVksa dks c<+k;k tk;
;k ugha vkfnA blds fy, bUgsa vk£Fkd vkadM+s ,df=kr djus iM+rs gS rFkk O;kolkf;d
okrkoj.k ls lacaf/kr lHkh çklafxd lwpukvksa dk fo'ys"k.k dj QeZ vkSj m|ksx }kjk lkeuk dh
tk jgh leL;kvksa ij fLFkfr&i=k rS;kj djus iM+rs gSA rhoz rduhdh fodkl okys m|ksx dh
fLFkfr esa] mUgsa cnyrs rduhdh Lrj ds çHkko dk fujUrj ewY;kadu djuk iM+rk gSA çcUèkdh;
vFkZ'kkL=kh dks NksVs vkSj cM+s vkdkj ds foÙkh;] ykHk vkSj cktkj dh laHkkO;rkvksa dks è;ku esa
j[krs gq, iwath ctV dk ewY;kadu djuk iM+rk gSA lkFk gh] vDlj mUgsa vius ps;jeSu rFkk
'kh"kZ vf/kdkfj;ksa ds fy, Hkk"k.k rFkk ys[k rS;kj djus iM+rs gSA çcU/kdh; vFkZ'kkL=kh ds fuEu
fof'k"V dk;Z gS %
(i) ekax vFkok foØ; iwokZuqeku( (ii) vkS|ksfxd cktkj&'kks/k( (iii) çfrLi)kZRed daifu;ksa
dk vk£Fkd fo'ys"k.k( (iv) dher&fu/kkZj.k vkSj lacaf/kr fu.kZ;( (v) iwath çkstsDVl(
(vi) mRiknu dk;ZØe( (vii) iw£r iwokZuqeku( (viii) le;ksftr lykg( (ix) ykHk vk;kstu(
(x) fuos'k ewY;kadu vkSj iwokZuqeku( (xi) lqj{kk çcU/kd fo'ys"k.k( (xii) O;kikj vkSj tu&lEidZ
ds fo"k; esa lq>ko( (xiii) çkFkfed oLrqvksa ds fo"k; esa lq>ko( (xiv) fons'kh eqæk çcU/ku ij
lq>ko( (xv) Ñf"k dk vk£Fkd fo'ys"k.k( (xvi) v)Z&fodflr vFkZO;oLFkkvksa dk fo'ys"k.k(
(xvii) O;kolkf;d okrkoj.k laca/kh ?kVdksa dk fo'ys"k.k vkSj iwokZuqeku( rFkk (xviii) fu.kZ;
fuekZ.k vkfnA
bu dk;ks± esa ekax iwokZuqeku vkSj cktkj 'kks/k çeq[k gSA blds fy, çcU/kdh; vFkZ'kkL=kh
dks vius vkSj çfr;ksxh Qeks± ds fcØh laca/kh vkadM+ksa dks ,d=k djuk iM+rk gSSA bl vk/kkj ij
fo'ys"k.kkRed vè;;u dj ,d fjiksVZ nsuh iM+rh gS rkfd çcU/kd dks cktkj esa mudh ekax dh
fLFkfr dk Bhd&Bhd irk py lds fd cktkj esa mldh D;k Hkkxhnkjh gksxh \ m|ksx esa
dkSu&lh QeZ D;ksa mlls vkxs gS rFkk mlds fiNM+us dk dkj.k D;k gS \ bu lHkh dk;ks± vkSj
vU; dbZ çcU/kdh; fu.kZ;ksa ds fy, ewy vFkZ'kkL=k ds ç;ksx rFkk foLr‘r lkaf[;dh; fo'ys"k.k
dh t:jr iM+rh gSA
2. lkekU; dk;Z (General Functions)
vFkZ'kkL=kh dk ,d eq[; dk;Z mu ?kVdksa dk irk yxkuk gs tks Hkfo"; esa O;olk; dks
çHkkfor djus okys gSA budh tkudkjh loZJs"B fu.kZ;&fuekZ.k esa lgk;d gksrh gSA bu ?kVdksa
dks ge nks Jsf.k;ksa esa ckaV ldrs gS % (i) cká ?kVd vkSj (ii) vkUrfjd ?kVdA
(i) cká ?kVd (External Factors)—cká ?kVdksa ij QeZ dk dksbZ o'k ugha pyrkA
QeZ flQZ lgh le; ij bu ?kVdksa dk mfpr lek;kstu dj ldrh gSA ;s ?kVd O;kolkf;d
okrkoj.k dk fuekZ.k djrs gSA çca/kdh; vFkZ'kkL=kh dk dk;Z bu cká ?kVdksa dh ço‘fÙk dks
le>uk vkSj mlds vk/kkj ij uhfr&fuekZ.k dk lq>ko nsuk gSA cká ?kVdksa ds vUrxZr fuEu
ckrsa vkrh gSa %
(1) vFkZO;oLFkk dh lkekU; vk£Fkd n'kk cká ?kVdksa esa lokZf/kd egRoiw.kZ gS] vFkkZr~
jk"Vªh; vFkZO;oLFkk dh n'kk D;k gS \ lkFk gh] jk"Vªh; vk; dh o‘f) nj vkSj Lrj] LFkkuh;]
{ks=kh; ,oa fo'o&O;kih vk£Fkd n'kk,a] {ks=kh; vk; forj.k] vFkZO;oLFkk ij vUrjkZ"Vªh; ?kVdksa
dk çHkko] fudV Hkfo"; esa O;kikj pØ dh dkSu&lh voLFkk vkus okyh gS] vkfnA
(2) mRikn dh ekax dh laHkkouk nwljk egRoiw.kZ cká ?kVd gSA lkekftd O;ogkj]
tu&lkekU; dh Ø;&'kfDr] QS'ku] #fp rFkk vf/keku vkfn esa dksbZ ifjorZu gks jgk gS ;k ugha
rFkk buds çHkkoksa ls dEiuh ds mRiknksa dh fcØh c<+sxh ;k ?kVsxh ;k yxHkx foyqIr gks tk,xhA
çca/kdh; vFkZ'kkL=kh bu ç'uksa dks mÙkj [kkstdj çca/ku dks vko';d lq>ko nsrk gSA
(3) D;k dksbZ rÙo QeZ dh lk/ku ykxr dks çHkkfor rks ugha dj jgk gS vFkkZr~ cktkj
dh _.k 'krs±] ljdkjh _.k uhfr esa gksus okys ifjorZu rFkk fofHkUu {ks=kksa esa Je&ykxr D;k gS \
(4) fons'kh cktkjksa dk foLrkj ;k ladqpu gksus okyk gS rFkk u, fons'kh fu;eksa dk ckgjh
vFkZO;oLFkk dh Qeks± ij D;k çHkko iM+sxk \
(5) dPps eky rFkk rS;kj eky ds cktkj dh çÑfr D;k gS \ ;g ckr dher uhfr esa
lgk;d gksrh gSA
(6) çfr;ksfxrk vkSj Hkh c<+sxh ;k ?kVsxhA
(7) ljdkj dh vk£Fkd uhfr;ksa dh ço‘fÙk D;k gS \ ljdkj dk ok£"kd ctV dSlk gS dj
dh nj] ç'kqYd vkSj vk;kr çfrcU/kksa esa D;k ifjorZu gq, gS \
(8) dsUæh; cSad dh ekSfæd uhfr;ka vkS|ksfxd mRiknu vkSj miHkksDrk O;; dks çksRlkfgr
;k grksRlkfgr dj jgh gSa \ ;s uhfr;ka QeZ dh ykxr] _.k] fcØh vkSj ykHk dks fdl rjg
çHkkfor djsaxh \
(9) çcU/kdh; vFkZ'kkL=kh ekax dh çÑfr vkSj ço‘fÙk le>dj cktkj esa QeZ ds Hkkx dk
foLrkj Hkh djrs gSa A
(ii) vkUrfjd ?kVd (Internal Factor)—pwafd vkUrfjd ?kVd QeZ ds {ks=k vkSj
çpyuksa (Operations) ds vUrxZr vkrs gS] vr% çcU/ku dk mu ij iw.kZ fu;U=k.k gksrk gSA bUgsa
O;kolkf;d çpkyu Hkh dgrs gSaA bu ?kVdksa dh tkudkjh ls QeZ ds ekylwph] mRiknu rFkk
fcØh laca/kh fu.kZ; esa enn feyrh gSA ;g orZeku ds lkFk&lkFk Hkfo"; dh ço‘fÙk ds iwokZuqeku
esa Hkh lgk;d gksrh gSA bl lUnHkZ esa fuEu ckrsa vkrh gS %
(1) çcU/kdh; vFkZ'kkL=kh dk çeq[k dk;Z QeZ ds fy, vf/kdre ykHk iSnk djus okys
mRiknu feJ.k dh [kkst djuk rFkk orZeku cktkj n'kkvksa ij fofHkUu oLrqvksa dh mfpr dher
fu/kkZfjr djrk gSA
(2) vxys o"kZ ds fy, fcØh vkSj ykHk dk foosdiw.kZ ctV rS;kj djuk A
(3) QeZ vius fuos'k&fu.kZ;ksa ds fy, Hkh çcU/kdh; vFkZ'kkfL=k;ksa ls lgk;rk ekaxrh gSA
QeZ }kjk fuos'k djus dh ykxr vkSj fuos'k ij çfrQy dk iwokZuqeku djuk budk dke gSA
(4) vxys eghus fdruh udn jkf'k miyC/k gksxh rFkk mldk fuos'k fdu {ks=kksa esa vkSj
fdruk fd;k tk, \
(5) etnwjh uhfr;ksa esa D;k ifjorZu fd, tk, \
çcU/kdh; vFkZ'kkL=kh dks O;kolkf;d okrkoj.k è;ku esa j[krs gq, bu lkjs lokyksa dk
tokc <wa<uk iM+rk gSA
lkoZtfud okn&fookn (Public Debates)—dbZ lqçfl) çca/kdh; vFkZ'kkL=kh lkoZtfud
okn&fookn esa Hkkx ysrs gSA ljdkj vkSj lekt }kjk muds fopkj vkSj lq>ko tkus tkrs gSA
bl çdkj ge dg ldrs gS fd çcU/kdh; vFkZ'kkL=kh] ljdkjh fu.kZ;ksa dk :ikUrj.k vkSj
m|ksx dh çfrfØ;kvksa dks crkdj ljdkj vkSj m|ksx ds chp lsrq dk dke djrs gSaA lpeqp]
buds dke esa lrdZrk ls vkSj ncko esa dke djus dh ;ksX;rk cgqr t:jh gSA
çcU/kdh; vFkZ'kkL=kh dk mÙkjnkf;Ro
(Responsibilities of a Managerial Economist)
çcU/kdh; vFkZ'kkL=kh] çca/ku ds fy, fdl çdkj lokZf/kd lgk;d gks ldrk gS \ blds
fy, mlds dÙkZO; vkSj mÙkjnkf;Ro dks le>uk vko';d gS] tks fuEu çdkj gSa %
1. mís'; vkSj dk;Z esa leUo; (Adjustment in Objectives and Functions)—
bldk lcls cM+k mÙkjnkf;Ro vius dk;Z vkSj mís'; esa rky&esy j[kuk gSA QeZ dk eq[;
mís'; fuos'k dh xbZ iwath ij vf/kdre ykHk çkIr djuk gSA çcU/kdh; vFkZ'kkL=kh dks bl ckr
esa xgjh vkLFkk gksuh pkfg, fd ykHk gh o çsjd 'kfDr gS ftlls O;olk; iYyfor vkSj iqf"ir
gksrk gS rFkk mldk igyk dÙkZO; vf/kdre ykHk dekus ds fy, QeZ dks l{ke cukuk gSA rHkh
og ,d lQy çca/kdh; vFkZ'kkL=kh ds :i esa [;kfr v£tr dj ldrk gSA bl mís'; dh çkfIr
ds nkSjku mls vusd vkykspuk,a lquuh iM+ ldrh gS] ijUrq blls mls grksRlkfgr ugha gksuk
pkfg,A
2. m|ksx dh jktuhfr dh tkudkjh (Knowledge of Industry Politics)—QeZ dh
lQyrk dk jkt bl ckr esa fufgr gS fd m|ksx esa vU; Qeks± dh D;k detksfj;k¡ gSaA
çcUèkdh; vFkZ'kkL=kh dk fopkj flQZ muds lS)kfUrd Kku ij gh vk/kkfjr ugha gksuk pkfg,
cfYd mUgsa m|ksx txr dh jktuhfr dk xgjk vè;;u gksuk pkfg,A
3. lgh iwokZuqeku (Accurate Forecasts)—ge ns[krs gS fd lkekU;r;k çcU/ku ds
çR;sd fu.kZ; Hkfo"; ls lacaf/kr gksrs gSaA tcfd Hkfo"; vfuf'pr gS rFkk vfuf'prrk tksf[keksa
ls Hkjh gSA ,slh fLFkfr esa] çca/kdh; vFkZ'kkL=kh dk ;g ijenkf;Ro gksrk gS fd og iwokZuqeku
bruk lgh djs fd QeZ ds lkeus Hkfo"; dh vfuf'prrkvksa ls mRiUu gksus okyh tksf[kesa
de&ls&de gksaA ,slk iwokZuqeku os cktkj n'kkvksa] lkekU; vk£Fkd okrkoj.k] ljdkjh uhfr;ksa
vkfn ij miyC/k vkadM+ksa ds vk/kkj ij djrs gSaA blds fy, os laHkkO;rk fl)kUr dh rduhd
dk ç;ksx djrs gSA ;fn çca/ku ds ikl ,slk lgh iwokZuqeku vkSj mlds laHkkfor ç;ksx miyCèk
gS rks og vf/kd ljyrkiwoZd O;kolkf;d vk;kstu dj ldrk gSA çca/kdh; vFkZ'kkL=kh çcaèku
dk fo'oklik=k rHkh cu ldrk gS tc mlds iwokZuqeku lgh lkfcr gksrs gSA
4. iwokZuqeku esa ifjorZuksa dh lwpuk nsuk (To Inform about the Changes in
Forecasts)—çcU/kdh; vFkZ'kkL=kh tc ;g ns[krk gS fd dqN vkdfLed vkSj rqPN ?kVdksa ;k
viuh fdlh xyrh ds dkj.k mldk iwokZuqeku xyr lkfcr gksus okyk gS rks mldk ;g
mÙkjnkf;Ro gks tkrk gS fd og 'kh?kz nwljk u;k iwokZuqeku djs vkSj çcU/ku dks bldh lwpuk
;Fkk'kh?kz nsaA le; ij vkSj 'kh?kzrk ls dh xbZA bl dk;Zokgh ls çca/ku dks vius fu.kZ; ds
mfpr la'kks/ku esa enn feysxhA
5. Li"Vrk (Clarity)—çca/kdh; vFkZ'kkL=kh dk ;g nkf;Ro gS fd og çca/ku ds mís';ksa
dks lkQ&lkQ 'kCnksa esa O;k[;k djus dks dgs] vU;Fkk mlds fy, lgh iwokZuqeku djuk laHko
ugha gksxkA
6. O;kid lEidZ (Wide Contracts)—çcU/kdh; vFkZ'kkL=kh dy {kerk blh ckr ls
vkadh tk ldrh gS fd og yEch 'kks/k fØ;k dh vis{kk futh lEidZ ls fdruh tYnh vkSj
vko';d lwpuk ,df=kr dj ldrk gSA blds fy, og igys ls miyC/k L=kksrksa ;k dfBu lanHkZ
L=kksrksa dk lgkjk ysrk gS mldk nkf;Ro gS fd og viuk foLr‘r lEidZ cukdj j[ks rkfd lwpuk
ds L=kksrksa vkSj lwpuk çkIr djus ds LFkkuksa dk Kku vklkuh ls gks ldsA lkFk gh] og tkurk
gks fd c‘gr~ lwpuk tYnh esa dgka ls feysxhA blds vfrfjDr] og lacaf/kr {ks=k ds fo'ks"kK dks
futh rkSj ij tkurk gSA blds fy, mUgsa O;kolkf;d la?kksa dk lfØ; lnL; gksuk pkfg,A
7. xaHkhjrk vkSj rRijrk (Seriousness and Promptness)—çca/kdh; vFkZ'kkL=kh dks
vius dke ds çfr xaHkhj gksuk pkfg,A mls pqukSrhiw.kZ dk;Z djus ds fy, lnSo rRij gksuk
pkfg,A tc Hkh dksbZ fof'k"V dk;Z] tks vè;;u nyksa ;k fof'k"V çkstsDVksa ls lacaf/kr gks ldrk
gS] djus dsk feys rks mls iwjh xaHkhjrk vkSj rRijrk ls iwjk djuk mldk nkf;Ro gSA blesa feyh
lQyrk ;k foQyrk gh mldh ewy ;ksX;rk] f'k{k.k] çf'k{k.k vkSj vuqHko dh lwpd gksrh gSA
;gh lQyrk ;k vlQyrk mlds O;fDrRo vkSj vius rFkk vius O;kolkf;d fopkjksa ds fy,
fujUrj leFkZu ikus dh {kerk dks fu/kkZfjr djrh gSA
8. ljyhdj.k (Simplification)—bldk ,d cM+k nkf;Ro ;g Hkh gS fd og vius vfr
tfVy fopkjksa dks Hkh ljy vkSj lkekU; Hkk"kk esa fo'okl iSnk djus okys <+ax ls çLrqr djsA
rduhdh 'kCnkoyh dk ç;ksx ;FkklaHko u djs D;ksafd ;fn çcU/ku bls ugha le> ik;k rks
LokHkkfod gS og mls Lohdkj ugha djsxkA
vr% ge ns[krs gS fd çcU/kdh; vFkZ'kkL=kh fu.kZ; fuekZ.k vkSj vfxze vk;kstu esa egÙoiw.kZ
Hkwfedk vnk djrk gSA ijUrq viuh Hkwfedk lQyrkiwod Z fuHkkus ds fy, mls viuk mÙkjnkf;Ro
le>uk gksxkA vHkh Hkh dbZ Qes± vFkZ'kkL=kh ds bl in dks foykflrk dk in ekurh gSA mldk
egÙo cgqr dqN bl ckr ij fuHkZj djrk gS fd og vius dks çcaèku ds lkeus fdl rjg çLrqr
djrk gSA ijUrq bruk fuf'pr gS fd ,d fu"Bkoku vFkZ'kkL=kh QeZ ds ykHk esa o‘f) vkSj mldh
leL;kvksa ds lek/kku esa çHkkoh fl) gksrk gSA
vè;k; 2
ekax dk vFkZ] çdkj vkSj fu/kkZjd rÙo
CONCEPT AND TYPE OF DEMAND AND ITS DETERMINANT
ge bl vè;k; esa ekax ds vFkZ dh O;k[;k djrs gq, mldks çHkkfor djus okys rRoksa dh
O;k[;k djsxAas mlds lkFk&lkFk ekax ds çdkj] ekax ds fu;e] ekax esa o‘f)] ladp
q u] foLrkj vkfn
vk/kkjHkwr Concept dks foLrkjiwoZd o.kZu djsxsaA vè;k; ds var esa çca/kdh; vFkZ'kkL=k ekax ds
egÙo dh O;k[;k djsxsaA
1. ekax dk vFkZ (Meaning of Demand)
vFkZ'kkL=k esa ekax 'kCn dk ç;ksx fo'ks"k vFkks± esa fd;k tkrk gSA vke cksypky dh Hkk"kk esa
bPNk] vko';drk rFkk ekax 'kCnksa dk ç;ksx ,d gh vFkZ esa fd;k tkrk gS ijUrq vFkZ'kkL=k esa bu
rhukas 'kCnksa ds fofHkUu vFkZ gksrs gSaA eku yhft, vki dh jaxhu Vh0oh0 ysus dh bPNk gS ijUrq
vkids ikl i;kZIr /ku ugha gS rks ;g bPNk vk£Fkd n‘f"V ls dsoy bPNk (Desire) gh gS] ekax
(Demand) ugha] ijUrq ;fn i;kZIr /ku gksrs gq, Hkh vki ml /ku dh jaxhu Vh0oh0 ij [kpZ djuk
ugha pkgrs rks ;g bPNk dsoy vko';drk (Want) gh dgyk,xh] ekax (Demand) ughaA ;g
bPNk mlh fLFkfr esa ekax (Demand) dk :i /kkj.k djsxh ftl fLFkfr esa ¼vFkkZr~ ,d fuf'pr
le; vkSj ,d fuf'pr dher ij½ vki jaxhu Vh0oh0 [kjhnus ds fy, rS;kj gSA bl ckr dk
Li"Vhdj.k vko';d gS fd ,d fuf'pr dher o fuf'pr le; ds lEcU/k esa gh ekax dk mYys[k
fd;k tkuk pkfg,A vr,o Þ;fn ekax dks çHkkfor djus okys vU; rÙo leku jgs rks ekax
fdlh inkFkZ dh og ek=kk gS ftls ,d miHkksäk le; dh ,d fuf'pr vof/k esa ,d fuf'pr
dher ij [kjhnus ds fy, bPNqd gS] rFkk ;ksX; gSAß (Demand is defined as the quantity
of a product which a consumer is willing and able to purchase at any given price during
some specified period of time provided all other influences remaining unchanged.)
2. ekax dk ifjHkk"kk;sa (Definitions of Demand)
(1) çks0 ohjk ,UlVs ds vuqlkj] Þekax fdlh inkFkZ dh og ek=kk gS tks ,d fn;s gq,
le; esa ,d gh nh gqbZ dher ij [kjhnh tk,xhAß
çks0 cSUge ds vuqlkj] Þ,d fuf'pr dher ij fdlh oLrq dh ekax mldh og ek=kk gS
tks ml dher ij ,d fuf'pr le; esa [kjhnh tk,xhAß
mijksä ifjHkk"kkvksa ls Kkr gksrk gS fd oLrq esa ikap rRo gksrs gSaA (1) oLrq dks çkIr djus
dh bPNk (2) ml bPNk dks iwjk djus ds fy, /ku (3) /ku [kpZ djus ds fy, rRijrk
(4) oLrqvksa dh ekaxh xbZ ek=kk rFkk dher esa lEcU/k (5) ekaxh xbZ ek=kk dk ml le; ls
lEcU/kA
ekax dk vFkZ] çdkj vkSj fu/kkZjd rRo 21
mijksä rÙoksa dh lgk;rk ls] vko';drk rFkk ekax dk vUrj Li"V fd;k tk ldrk gSA
ekax ds ikap rRo gksrs gSa tcfd vko';drk ds igys rhu rÙo gksrs gSaA ekax fdlh oLrq dh ,d
fuf'pr dher ij [kjhnh tkus okyh ek=kk dks çdV djrh gS] tcfd vko';drk ml oLrq dh
bPNk iwjh djus dh 'kfDr dks çdV djrh gSA
ekax ds çdkj
(Types of Demand)
çR;sd vFkZO;oLFkk esa fofo/k çdkj dh oLrq,a ,oa lsok,a miyC/k gksrh gSaA çca/kdh; fu.kZ;ksa
ds fy, ,d vFkZiw.kZ ekax fo'ys"k.k gsrq mudk oxhZdj.k vfr egÙoiw.kZ gSA ;s oxhZdj.k fuEu gS
%
(i) miHkksDrk oLrqvksa vkSj mRiknd oLrqvksa dh ekax (Demand for Consumer’s
Goods and Producers’ Goods)—miHkksDrk oLrq,a os vafre oLrq,¡ gksrh gS tks miHkksDrk dh
vko';drkvksa dks çR;{k :i ls larq"V djrh gksaA ,slh oLrq,a gS % jksVh] nw/k] diM+s] QuhZpj
vkfnA iwath ;k mRiknd oLrq,a os oLrq,a gksrh gS tks vU; oLrqvksa ds mRiknu esa enn igqapkrh
gS vkSj tks miHkksDrkvksa dh vko';drkvksa dks vçR;{k :i ls lar"q V djrh gS(a tSls IykaV] Ñf"kxr
,oa vkS|ksfxd dPps inkFkZ vkfnA miHkksDrk oLrqvksa dh ekax çR;{k ;k Lok;Ùk (Autonomous)
ekax dgykrh gSA mRiknd oLrqvksa dh ekax O;qRiUu (Deliver) ekax gksrh gS D;ksafd bu oLrqvksa
dh vafre miHkksx ds fy, ugha cfYd vU; oLrqvksa ds mRiknu ds fy, ekax dh tkrh gSA
ts0Mhu (Dean) us vFkZO;oLFkk esa mRiknd oLrqvksa dh ekax ds lUnHkZ esa fuEu ckrsa crkbZ
gS %
(i) mRiknd oLrqvksa ds Øsrk O;olk;h gksrs gS vkSj os çk;% dq'ky gksrs gSA vr% fcØh c<+kus
dh fØ;kvksa dk mu ij cgqr de çHkko iM+rk gSA
(ii) mRiknd oLrqvksa ds Øsrk] lk/ku&dher foHksnksa vkSj LFkkiUuksa ds çfr vf/kd laon
s u'khy
gksrs gSA bl çdkj] iwath] Je vkSj vU; lk/kuksa dh ekax yksp'khy gksrh gSA
(iii) miHkksDrk oLrqvksa ds Øsrkvksa dk mís'; iw.kZr% vk£Fkd gksrk gSA os iwathxr oLrqvksa dks
ykHk ds mís'; ls gh [kjhnrs gSA
(iv) mudh ekax miHkksx ekax ls O;qRiUu gksus ds dkj.k mlesa fujUrj vkSj rhoz mrkj&p<+ko
gksrs jgrs gSA
dksbZ oLrq miHkksDrk oLrq gS ;k mRiknd oLrq] ;g mlds mi;ksx ij fuHkZj djrk gSA
mnkgj.kkFkZ] tc QuhZpj dk mi;ksx ?kj esa fd;k tkrk gS rks og miHkksDrk oLrq gS tcfd ogha
QuhZpj tc O;kolkf;d x‘g ds fy, mi;ksx fd;k tkrk gS] rks mls mRiknd oLrq gSA fQj Hkh]
og foHksn mi;qDr ekax fo'ys"k.k ds fy, ykHkçn gSA
(ii) uk'koku vkSj fVdkÅ oLrqvksa dh ekax (Demand for Perishable and Durable
Goods)—vkxs miHkksDrk vkSj mRiknd oLrqvksa dks uk'koku vkSj fVdkÅ oLrqvksa esa oxhZÑr fd;k
x;k gSA vFkZ'kkL=k esa] uk'koku oLrq,a os gksrh gSa ftudk miHkksx flQZ ,d ckj mi;ksx dh tk
ldrh gSAa vFkkZr~ uk'koku oLrq,a vius&vki miHkksx dh tkrh gS tcfd fVdkÅ oLrqvksa dh flQZ
lsok,a miHkksx dh tkrh gSA bl çdkj] uk'koku oLrqvksa ds vUrxZr lHkh çdkj dh lsok,a] HkksT;
inkFkZ] dPps eky vkfn vkrs gS rFkk nwljh vksj fVdkÅ oLrqvksa ds vUrxZr edku] e'khu] QuhZpj
vkfn vkrs gSaA bl foHksn dk blfy, vkSj Hkh egÙo gS D;ksafd ekax fo'ys"k.k esa fVdkÅ oLrq,a]
xSj&fVdkÅ oLrqvksa dh vis{kk vf/kd tfVy leL;k,a iSnk djrh gSA xSj&fVdkÅ oLrqvksa dh
fcØh çk;% orZeku ekax dks iwjk djus ds fy, dh tkrh gS tks orZeku n'kkvksa ij fuHkZj djrh
gSA nwljh vksj] fVdkÅ oLrqvksa dh fcØh orZeku oLrqvksa ds HkaMkj esa o‘f) djrh gS] ftudh lsok,a
,d le; vof/k ds mijkUr miHkksx dh tkrh gSA uk'koku oLrqvksa dh ekax vf/kd yksp'khy gksrh
gS] tcfd uk'koku fVdkÅ oLrqvksa dh ekax vYidky esa de yksp'khy gksrh gS vkSj nh?kZdky esa
mudh ekax esa vf/kd yksp'khy gksus dh ço‘fÙk gksrh gSA ts0 Mhu us dgk gS fd fVdkÅ oLrqvksa
dh ekax O;kolkf;d n'kkvksa ds lkis{k esa vf/kd vfLFkj gksrh gSA LFkxurk] LFkkukiUurk] HkaMkj.k
vkSj foLrkj ijLij lacfa /kr leL;k,a gS tks fVdkÅ oLrqvksa dh ekax fu/kkZfjr djus esa 'kkfey jgrh
gSA
(iii) O;qRiUu vkSj Lok;Ùk ekax (Derived and Autonomous Demand)—ts0 Mhu ds
vuqlkj] tc fdlh oLrq dh ekax] dqN ewy oLrqvksa dh [kjhn ls tqM+h gksrh gS rks mldh ekax
O;qRiUu ekax dgykrh gSA vr% tc fdlh oLrq dh ekax dqN vU; oLrqvksa dh ekax ij fuHkZj djrh
gS rks mls O;qRiUu ekax dgrs gSA bl çdkj lHkh çdkj dh mRiknd oLrqvksa dh ekax O;qRiUu
ekax gksrh gS D;ksafd mudh ekax miHkksDrk ;k mRiknd oLrq,a cukus ds fy, dh tkrh gSA
mnkgj.kkFkZ] b±V ;k lhesaV dh ekax O;qRiUu ekax gS] D;ksafd budh ekax dh mRifÙk Hkouksa dh ekax
ls gksrh gSA
nwljh vksj] mu oLrqvksa dh] ftudh ekax dqN vU; oLrqvksa dh ekax ls tqMh+ gksrh gS] Lok;Ùk
ekax dgykrh gS] tSls Hkkstu] oL=k vkokl vkfnA miHkksDrk oLrqvksa dh ekax Lok;Ùk ekax gksrh
gSA Lok;Ùk ekax çR;{k ekax gksrh gSA ;g vafre ekax gksrh gSA ;|fi vk/kqfud txr~ esa ,slh oLrq,¡
<wa< ikuk cgqr dfBu gS ftudh ekax vU; oLrqvksa dh ekax ls iw.kZr% Lora=k gksA
ijUrq bl fuHkZjrk dh dksfV (degree) oLrq&ls&oLrq esa O;kid :i ls ijko£rr gksrs gSA
tSls fuc dh ekax dye dh ekax ls iw.kZr% tqM+h gS] tcfd isVªksy dh ekax dkj dh ekax ls gYds
<+ax ls tqM+h gSA vr% O;qRiUu vkSj Lok;Ùk ekax dk foHksn] çdkj dh vis{kk dksfV dk foHksn gSA
O;qRiUu ekax] Lok;Ùk ekax dh vis{kk çk;% de dher yksp'khy gksrh gSA
O;qRiUu ekax dh /kkj.kk ekax iwokZuqeku dks vklku cukrh gS] fo'ks"kdj tc fuHkZj vkSj ewy
oLrq,a fuf'pr vuqikrksa esa mi;ksx dh tkrh gS vkSj ewy oLrqvksa dh ekax dk fuf'pr le; gksrk
gSA ijUrq ge ns[krs gS fd fuf'pr vuqikr fu;e ds ctk; viokn gksrk gSA
(iv) QeZ ¼;k daiuh½ ekax vkSj m|ksx ekax (Firm or Company Demand and
Industry Demand)—vusd O;kolkf;d leL;kvksa ds lek/kku ds fy, QeZ&ekax vkSj m|ksx&ekax
esa vUrj rFkk buds chp laca/k dk Kku gksuk vko';d gksrk gSA
QeZ ,d O;kolkf;d bdkbZ gS tcfd m|ksx fudVre çfr;ksxh Qeks± dk ,d lewgA
QeZ&ekax ls vk'k; fdlh fo'ks"k QeZ dh fdlh fo'ks"k oLrq dh ekax ls gSA nwljh vksj] m|ksx&ekax
fdlh fo'ks"k m|ksx dh oLrq dh dqy ekax gksrh gSA mnkgj.kkFkZ] flQZ fcjyk ;kekgk eksVjlkbfdy
dh ekax QeZ dh ekax gS tcfd lHkh çdkj dh eksVjlkbfdyksa dh ekax m|ksx dh ekax gSA
(v) dqy cktkj ekax vkSj cktkj [k.Mksa }kjk ekax (Total Market Demand and
Market Segment Demand)— dqy cktkj ekax ls vk'k; fdlh oLrq ds fy, lHkh cktkj
[k.Mksa dh dqy ekax ls gS tcfd ,d fo'ks"k cktkj [k.M ekax fdlh oLrq ds fy, ml fo'ks"k cktkj
[k.M dh ekax gksrh gSA mnkgj.kkFkZ] ghjks lkbfdy dk dqy cktkj ¼vFkkZr~ ?kjsyw $
fons'kh½ ekax rFkk ?kjsyw ekax] pk; dks cM+h ek=kk esa [kjhnus okyksa ¼tSls nqdkuksa] tyiku&x‘gksa]
vfrfFk&x‘gks]a gksVyksa vkfn½ }kjk ekax cuke ikfjokfjd ekaxA dqy cktkj ekax dks fofHkUu [k.Mks]a
tSls HkkSxksfyd {ks=kksa] mi&mRiknksa] mRikn mi;ksx] forj.k ra=kksa] miHkksDrk oxZ dk vkdkj] dher
laosnu'khyrk vkfn ds vk/kkj ij foHkkftr dj cktkj [k.Mksa dh ekax dk vè;;u fd;k tk

ldrk gSA ?kjsyw ,oa fons'kh ekax leL;kvksa tSls [kjkc fons'kh cktkj ds dkj.kksa dk fo'ys"k.k
djus] fdlh oLrq ds fy, fdlh fo'ks"k {ks=k esa ekax esa deh gksus vkfn leL;kvksa ds lek/kku ds
fy, ;g foHksn vfr ykHkçn gksrk gSA
(vi) vYidkyhu ekax vkSj nh?kZdkyhu ekax (Short-run Demand and Long-run
Demand)—uk'koku oLrqvksa tSls lCth] Qy] nw/k vkfn ds fy, dher esa ifjorZu ls ekaxh xbZ
ek=kk esa ifjorZu 'kh?kzrk ls gksrk gSA ,slh oLrqvksa ds fy, ,d vdsyk _.kkRed <yku okyk
lkekU; ekax oØ gksrk gSA ysfdu fVdkÅ oLrqvksa tSls midj.k] e'khusa] diM+s vkSj vU; ,slh
oLrqvksa ds fy, dher esa ifjorZu dk ekaxh xbZ ek=kk ij vafre çHkko ugha gksxk tc rd fd oLrq
dk orZeku LVkWd lek;ksftr ugha gksrk tks yach vof/k ys ldrk gSA ,d vYidkyhu ekax oØ
dher esa ifjorZu ls ekaxh xbZ ek=kk esa ifjorZu dks n'kkZrk gS] tc fVdkÅ oLrq dk orZeku LVkWd
vkSj LFkkukiUuksa dh iw£r;ka nh gqbZ gksaA nwljh vksj] ,d nh?kZdkyhu ekax oØ dher esa ifjorZu
ls ekaxh xbZ ek=kk esa ifjorZu dks n'kkZrk gS] tc nh?kZdky esa lHkh lek;kstu (adjustment) dj
x, gksAa tksy Mhu (Joel Dean) ds vuqlkj] ÞvYidkyhu ekax ls vfHkçk; pkyw ekax ls gS ftlesa
dher esa ifjorZu] vk; esa mrkj&p<+ko vkfn dh rkRdkfyd çfrfØ;k gksrh gS tcfd nh?kZdkyhu
ekax vUrr% dher&fu/kkZj.k esa ifjorZuks]a lao)Zu ;k oLrq lq/kkj ds ifj.kkeLo:i gksrh gSA blds
vUrxZr cktkj dks u;s volj ds eqrkfcd vius dks lek;ksftr djus dk i;kZIr le; feyrk
gSAß
(vii) la;qDr ekax vkSj lfEeJ ekax (Joint Demand and Composite Demand)—
tc nks oLrq,a ,d gh le; esa ,dy vko';drk dks larq"V djus ds fy, ,d lkFk ekaxh tkrh
gS rks mls la;qDr ;k iwjd ekax dgrs gSaA la;qDr ekax fdUgha ,slh nks ;k vf/kd oLrqvksa vFkok
lsokvksa ds lac/a k dks crkrh gS tks ,d lkFk ¼bdëh½ ekaxh tkrh gSA dkj rFkk iSVkª y
s dh] iSu rFkk
L;kgh dh vkSj pk; rFkk phuh dh ekax] la;qDr ekax gSA ftu oLrqvksa dh la;qDr ekax gksrh gS
os oLrq,a iwjd (Complementary) dgykrh gSaA ,d oLrq dh dher c<+ tkus ls nwljh oLrq dh
ekax fxj tkrh gS] tksj foykse'k% HkhA mnkgj.k ds fy,] dkj dh dherksa esa o‘f) dkj dh ekax
dks vkSj lkFk gh iSVªksy dh ekax dks fxjk nsxh vkSj iSVªksy dh dher ?kVk nsxh] c'krs± fd iSVªksy
dh iw£r vifjo£rr jgsA nwljh vksj] ;fn dkjksa ds mRiknu dh ykxr fxjus ls dkjksa dh dher
fxj tkrh gS rks mudh ekax c<+ tk,xh c'krsZ fd iSVkª y s dh miyC/k iw£r;ka vifjo£rr jgsAa nwljh
vksj ftl oLrq ds vusd oSdfYid fd, tk lds]a mldh ekax lfEeJ ekaxs dgykrh gSA ;g peM+k]
bLikr] dks;yk] dkxt vkfn oLrqvksa dh gh ugha vfirq Hkwfe] Je rFkk iwt a h tSls mRiknu ds lk/
kuksa dh Hkh fof'k"Vrk gSA mnkgj.k ds rkSj ij] jsy] QSDVªh] ?kjsyw mi;ksx vkfn ds fy, dks;ys
dh ekax jgrh gSA lfEeJ ekax esa ,d oLrq ds fofHkUu ç;ksxksa esa Li/kkZ jgrh gSA vr% ml oLrq
dk çR;sd ç;ksx mlds vU; ç;ksxksa ls Li/kkZ j[krk gSA blfy, bls LièkhZ ekax ¼çfr;ksxh ekax½
Hkh dgrs gSA fdlh oLrq ds fy, ,d mi;ksxdrkZ }kjk ekax esa ifjorZu ls vU; mi;ksxdÙkkZvksa
dks bldh iw£r ij çHkko iM+sxk ftlls mldh dher esa ifjorZu gksxkA bl çdkj mldh ekax
ç.kkyh gh cny tk,xhA
ekax Qyu (Demand Functions)
xf.krh; Hkk"kk esa] Qyu Lora=k vkSj fuHkZj pjksa ds laca/k dk lkadsfrd dFku gksrk gSA bl
çdkj Qyu fdlh oLrq dh ekaxh xbZ ek=kk ¼fuHkZj pj½ vkSj mlds fu/kkZjdksa ¼Lora=k pjks½a ds chp
ds laca/k dks O;Dr djrk gSA bls fuEu lehdj.k }kjk n'kkZ;k tk ldrk gS %
Da = f (Pa, Y, Ps, Pc, T, A, Ep, Ey, N, Dn, U)

tgka] Da = a oLrq dh ekax
f =^dj Qyu* ;k îj fuHkZj*
P a = a oLrq dh dher
Y = miHkksDrk dh vk;
P a = a oLrq dh LFkkukiUuksa dh dhersa
P s = a oLrq dh iwjdksa dh dhersa
T = miHkksDrk dh #fp;ksa] vknrksa vkSj vf/kekuksa dh eki
A = foKkiu
E p = Hkfo"; dherksa ds fo"k; esa miHkksDrk dh çR;k'kk,a
E y = Hkfo"; dh vk; esa fo"k; esa miHkksDrk dh çR;k'kk,a
N = tula[;k dk vkdkj
D n = jk"Vªh; vk; dk forj.k
U = a oLrq dh ekax ds vU; fu/kkZjd
bl çdkj ;g lehdj.k ekax Qyu dk laf{kIr :i gSA ijUrq mi;qZDr ekax Qyu dh
O;k[;k tfVy gS D;ksfa d #fp;ksa vkSj vU; ?kVdksa dks ekik ugha tk ldrkA vr% vFkZ'kkL=kh dher
ds vfrfjDr vU; lHkh pjksa dks fLFkj ekurs gq, ekax Qyu dh ljy O;k[;k djrs gSa ftls bl
çdkj O;Dr fd;k tk ldrk gS% Da = f(Pa) tks ;g n'kkZrk gS fd a oLrq dh ekax mldh dher
dk Qyu gksrk gSA vFkkZr~ çR;sd dher ls lacfa /kr ekaxh xbZ ek=kk gksrh gSA nwljs 'kCnksa es]a fdlh
oLrq dh ekax ls vk'k; lEiw.kZ ekax vuqlwph ls gS tks fdlh fn, gq, le; esa oSdfYid dherksa
ij [kjhnh xbZ oLrq dh fofHkUu ek=kkvksa ls gksrh gSA
ekax vuqlwph vkSj ekax oØ (Demand Schedule and Demand Curve)
ekax vuqlp w h ,d fn, gq, le; esa fofHkUu dherksa ij ,d oLrq dh fofHkUu ek=kkvksa dks ,d
rkfydk ds :i esa n'kkZrh gSA çks0 csUge (Benham) ds vuqlkj] Þfdlh cktkj esa ,d fuf'pr
le; ij ,d oLrq dh fofHkUu dherksa ij ftruh ek=kk [kjhnh tkrh gS ;fn mls ,d rkfydk
ds :i esa fy[kk tk; rks ekax vuqlwph çkIr gksrh gSAß
ekax vuqlwph nks çdkj dh gksrh gS % (1)
O;fDrxr ekax vuqlwph] vkSj (2) cktkj ekax
vuqlwph A budh ge ;gka O;k[;k djrs gSA
(1) O;fDrxr ekax vuqlwph vkSj oØ
(Individual’s Demand Schedule and
Curve)—,d O;fDr dh ekax vuqlwph mlds
}kjk fofHkUu dherksa ij ,d oLrq dh fofHkUu
ek=kkvksa dks n'kkZrh gSA dherksa vkSj ek=kkvksa dh
rkfydk dks ekax vuqlp w h vkSj mldh fp=k }kjk
fn[kkuk ekax oØ dgykrk gSA çks0 lSeqvYlu
ds 'kCnksa es]a Þekax vuqlpw h dk js[kh; fp=k.k ekax
oØ dgykrk gSAß
,d O;fDr dh ekax vuqlwph dks rkfydk 1 esa n'kkZ;k x;k gSA fp=k
ekax1.vuqlwph ls Li"V gksrk
gS fd ,d oLrq larjk dh dher de gksus ds lkFk&lkFk ,d O;fDr mldh vf/kd ek=kk,a [kjhnrk
gSA tc dher 5 #0 gS rks ekax 5 bdkb;ka gSA dher 4 #0 gks tk, rks ekax c<+dj 10 bdkb;ka
gks tkrh gSA vkSj vUrr% dher 1 #0 gksus ij 25 bdkb;ka ekaxh tkrh gSA
fp=k 1 esa DD1 oØ bl ekax vuqlwph ds vk/kkj ij [khapk x;k gSA fcUnq P, Q, R, S vkSj
T fofHkUu dher ek=kk la;ksxksa dks çdV djrs gSA Mk0 ek'kZy ds vuqlkj] ;s ekax fcUnq gSA igyk
fcUnq P igys dher&ek=kk la;ksx dks vkSj blds i'pkr~ Q, R., S vkSj T vkxs la;ksxksa ds n'kkZrs
gSa] tks uhps nkbZ vksj D1 dh vksj pyrs gSA budks feykus ls DD1 ekax oØ curk gS] ftldh
<yku _.kkRed (Negative) gSA
rkfydk 1 :
O;fäxr ekax vuqlwph
dher ¼#0½ ekaxh xbZ ek=kk
5 5 bdkb;ka
4 10 bdkb;ka
3 15 bdkb;ka
2 20 bdkb;ka
1 25 bdkb;ka
(2) cktkj ekax vuqlwph vkSj oØ (Market Demand Schedule and Curve)—,d
cktkj esa ,d oLrq tSls larjs dk ,d miHkksDrk u gksdj cgqr ls miHkksDrk gksrs gSaA ,d oLrq
dh cktkj ekax dks ,d ekax vuqlwph vkSj ekax oØ }kjk n'kkZ;k tkrk gSA os oLrq dh fofHkUu
dherksa ij lHkh miHkksDrkvksa }kjk ekaxh xbZ fofHkUu ek=kkvksa ds dqy tksM+ dks n'kkZrs gSA eku
yhft, ,d ek£dV esa A vkSj B nks O;fDr gS tks oLrq dks [kjhnrs gSA oLrq ls ekax vuqlwph dks
rkfydk 2 esa O;Dr fd;k x;k gSA rkfydk ;g n'kkZrh gS fd nksuksa O;fDr;ksa }kjk çR;sd dher
ij larjs dh ekaxh xbZ dqy ek=kkvksa dk tksM+ mldh cktkj ekax gSA ;g vf/kd dher 5 #0 ij
de gS vFkkZr~ 15 bdkb;ka vkSj dher de gksus ij c<+rh tkrh gS vkSj vUrr% 1 #0 ij 75 bdkb;ka
gks tkrh gSA
rkfydk ds vk/kkj ij fp=k 2 esa cktkj ekax oØ DM [khapk x;k gS tks nksuksa miHkksDrkvksa
ds ekax oØksa dk lkekukarj tksM+ gS % DM = DA + DB.
ekax dk fu;e dh O;k[;k (The Law of Demand)
;g fu;e oLrq dh ekaxh xbZ ek=kk vksj mldh dher ds laca/k O;Dr djrk gSA ek'kZy dh
ifjHkk"kk bl çdkj gS % Þekax dk fu;e ;g crkrk gS fd vU; ckrsa leku gksus ij] ekax dh ek=kk
dher fxjus ls c<+rh gS vkSj dher c<+us ls ?kVrh gSAß QxqZlu ds 'kCnksa esa] Þekax ds fu;e ds
vuqlkj] ekaxh xbZ ek=kk dher ds lkFk foijhr ifjo£rr gksrh gSAß bl çdkj] ;g fu;e dher
rFkk ekax esa foijhr laca/k O;Dr djrk gSA fp=k esa bl ckr ij fuHkZj djrk gS fd ÞvU; ckrsa
leku jgsßa A ;g okD;ka'k fu;e dh dqN egÙoiw.kZ ekU;rkvksa dh vksj funs'Z k djrk gS ftuds vk/
kkj ij gh ;g fu;e pkyw gksrk gSA
rkfydk 2 :
cktkj ekax vuqlwph
dher ekaxh xbZ ek=kk dqy ekax
¼#0½ A+B = ekax
5 5 + 10 = 15
4 10 + 20 = 30
3 15 + 30 = 45
2 20 + 40 = 60
1 25 + 50 = 75
fp=k 2.
bldh ekU;rk,a (Its Assumptions)

(i) miHkksDrkvksa dh #fp;ksa o vf/kekuksa esa dksbZ ifjorZu u gks(
(ii) miHkksDrkvksa dh vk; fLFkj jgs(
(iii) jhfr&fjoktksa esa dksbZ ifjorZu u gksa(
(iv) ç;ksx esa vkus okyh oLrq lk/kkj.k gks vFkkZr~ Js"Brk çnku djus okyh u gks(
(v) oLrq ds dksbZ LFkkukiUu u gks(
(vi) vU; oLrqvksa dh dher esa ifjorZu u gksa(
rkfydk 3 :
ekax vuqlwph
dher ¼#0½ ekaxh xbZ ek=kk
5 100 bdkb;ka
4 200 bdkb;ka
3 300 bdkb;ka
2 400 bdkb;ka
1 600 bdkb;ka
"
fp=k 3.
(vii) Hkfo"; esa oLrq dh viuh dher esa ifjorZu dh vk'kk u gks(
(viii) oLrq ds xq.k esa ifjorZu u gks( vkSj
(ix) miHkksDrkvksa dh vknrsa fLFkj jgsaA
bu ekU;rkvksa ds gksus ij gh ekax dk fu;e fØ;k'khy gksrk gSA ;fn buesa ls fdlh ,d
esa Hkh ifjorZu vk tk;s rks ;g pkyw ugha gksxkA
bldh O;k[;k (Its Explanation)
bu ekU;rkvksa ds fn, gksus ij] ekax ds fu;e dh rkfydk 3 vkSj fp=k 3 }kjk O;k[;k dh
xbZ gSA
mijksDr rkfydk ;g n'kkZrh gS fd larjs dh dher 5 #0 çfr bdkbZ gksus ij bldh 100
bdkb;ksa dh ekax dh tkrh gSA ;fn dher ?kVdj 4 #0 gksrh gS rks ekax c<+dj 200 bdkb;ka
gks tkrh gSA blh rjg 1 #0 gks tkus ij ekax c<+dj 600 bdkb;ka gks tkrh gSA blds foijhr
tSls&tSls dher 1 #0 ls c<+rh gS rks ekax 600 bdkb;ksa ls de gksrh pyh tkrh gSa fp=k esa ekax
oØ DD1 dk P fcUnq 5 #0 dher ij ekax dh 100 bdkb;ka n'kkZ jgk gSA tSl&s tSls dher ?kVdj
4 #0] 3 #0] 2 #0 vkSj 1 #0 gksrh gS] ekax c<+dj Øe'k% 200, 300, 400 rFkk 600 bdkb;ka gksrh
tkrh gS tks ekax oØ ds Q, R, S vkSj T fcUnqvksa ls Li"V gSA bl çdkj] ekax oØ DD1 dher
esa deh gksus ij larjksa dh c<+rh ekax dks n'kkZrk gS vkSj dher rFkk ekax ds chp foijhr
laca/k dks Li"V djrk gSA
ekax oØ ds uhps dh vksj <kyw gksus ds dkj.k
(Clauses of Downward Sloping Demand Curve)
ekax oØ ck,a ls nk,a dh vksj <kyw D;ksa gksrk gS \ blds dkj.k ekax fu;e ds pkyw gksus
dks Hkh Li"V djrs gSA blds eq[; dkj.k fuEufyf[kr gS %
(1) lhekUr mi;ksfxrk âkl fu;e (Law of Diminishing Marginal Utility)—ekax
dk fu;e ?kVrh lhekUr mi;ksfxrk ds fu;e ij vk/kkfjr gSA bl fu;e ds vuqlkj tc dksbZ
miHkksäk fdlh oLrq dh vf/kd bdkb;ka [kjhnrk gS rks ml oLrq dh lhekUr mi;ksfxrk de gksrh
tkrh gSA blfy, miHkksäk ml oLrq dh vf/kd bdkb;ka rHkh [kjhnsxk tc mldh dher de
gks tk,xhA de bdkb;ka çkIr gksus ij mi;ksfxrk vf/kd gksxh vkSj miHkksDrk oLrq ds fy,
vf/kd gksxh vkSj vf/kd dher ij ekax de gksxhA blh dkj.k ekax oØ uhps dh vksj <kyw gksrk
gSA
(2) dher çHkko (Price Effect)—gj oLrq ds dqN miHkksDrk gksrs gSaA ijUrq tc ml
oLrq dh dher de gks tkrh gS rks u, miHkksDrk [kjhnus yxsaxs ftlls ekax c<+ tkrh gSA blds
foijhr] oLrq dh dher c<+us ls dbZ miHkksDrk oLrq dk miHkksx cUn ;k de dj nsxa s ftlls ekax
de gks tk,xhA vr% miHkksDrk }kjk dher çHkko ds dkj.k oLrq ds vf/kd mi;ksx ;k R;kx
djus ls Hkh ekax oØ uhps dh vksj <kyw gksrk gSA
(3) vk; çHkko (Income Effect)—tc fdlh oLrq dh dher de gks tkrh gS rks
miHkksDrk dh okLrfod vk; c<+ tkrh gS] D;ksafd oLrq dh igys ftruh ek=kk [kjhnus ij mls
vc de eqæk O;; djuh iM+rh gSA blds foijhr] oLrq dh dher c<+us ij miHkksDrk dh
okLrfod vk; de gks tkrh gSA bls vk; çHkko dgrs gSA bl çHkko ds v/khu
oLrq dh dher de gksus ij miHkksDrk ml oLrq dh vf/kd ek=kk esa [kjhnrk gS vkSj lkFk esa c<+h
gqbZ vk; dk dqN Hkkx nwljh oLrqvksa dh Hkh vf/kd ek=kk [kjhnus ij [kpZ djsxkA tSls nw/k dh
dher gksus ls og nw/k dh vf/kd ek=kk rks [kjhnsxk gh] ij lkFk esa vU; oLrqvksa dh ekax Hkh c<+k
nsxkA lk/kkj.k oLrqvksa dh dher esa ifjorZu dk vk; çHkko /kukRed gksrk gSA blh dkj.k ekax
oØ uhps dh vksj <kyw gksrk gSA
(4) çfrLFkkiu çHkko (Substitution Effect)—oLrq dh dher esa ifjorZu gksus dk nwljk
çHkko çfrLFkkiu çHkko gksrk gSA fdlh oLrq dh dher de gks tkus ij] ijUrq mlds LFkkukiUuksa
dh dherksa esa dksbZ ifjorZu u gksus ij] miHkksDrk ml oLrq dks vf/kd [kjhnsx a s ftlls mudh ekax
c<+ tk,xhA blds foijhr] LFkkukiUuksa dh dhersa fLFkj jgus ij ;fn oLrq dh dher c<+ tkrh
gS rks miHkksDrk bl oLrq dk mi;ksx de dj nsx a s vkSj LFkkukiUuksa dks vf/kd [kjhnsxas ftlls oLrq
dh ekax de gks tk;sxhA mnkgj.kkFkZ] pk; dh dher de gksus ijUrq dkQh dh dher fLFkj jgus
ij pk; dh ekax c<+ tk;sxhA bl çfrLFkkiu çHkko ds dkj.k Hkh ekax oØ ck,a ls nk,a uhps dh
vksj <kyw gksrk gSA
(5) fofHkUu vk; oxZ (Different Income Groups)—gj lekt esa çR;sd O;fDr dh
vk; fHkUu gksrh gS ijUrq vf/kdrj ,sls yksx ik;s tkrs gS ftudh vk; de gksrh gSA ekax
oØ dk uhps dh vksj <kyw gksuk bUgha O;fDr;ksa ij fuHkZj djrk gSA lk/kkj.k yksx dher de
gksus ij oLrq dks vf/kd ek=kk [kjhnrs gS vkSj dqN u;s miHkksDrk Hkh mls [kjhnuk 'kq: dj nsrs
gS]a ftlls oLrq dh ekax vf/kd c<+rh gSA /kuh yksxksa dk ekax oØ ij dksbZ fo'ks"k çHkko ugha iM+rk
D;ksafd os vf/kd dher ij Hkh oLrq dh igys ftruh ek=kk [kjhnus esa leFkZ gksrh gSA
(6) fofo/k mi;ksx (Different uses)—dbZ !
oLrqvksa o lsokvksa ds fHkUu&fHkUu ç;ksx gksrs gSa tks
ekax oØ dh _.kkRed <yku dks çHkkfor djrs gSaA
,slh oLrqvksa dh dher c<+ tkus ij mudk mi;ksx
dsoy vf/kd egÙoiw.kZ dk;ks± ds fy, fd;k tk;sxk
ftlls mudh ekax de gks tk;sxhA blds foijhr]
dher fxj tkus ij mudk mi;ksx dbZ çdkj ds
dk;ks± esa fd;k tk;sxk ftlls mudh ekax c<+sxhA
tSls] fctyh dh nj vf/kd gksus ij mldk mi;ksx
dsoy ?kj esa jks'kuh ds fy, fd;k tk;sxk] ijUrq ;fn "
nj de gks rks yksx mldk mi;ksx [kkuk cukus] ia[ks]
ghVj vkfn pykus esa Hkh djsaxsA fp=k 4.
(7) vlarq"V vko';drk dh larqf"V dh ço‘fÙk (Tendency of Satisfy Unsatisfy

Want)—çR;sd O;fDr dh vko';drk dqN&u&dqN vlarq"V jgrh gSA tc fdlh oLrq tSls lsc
dh dher esa deh gksrh gS rks og vius vlarq"V vko';drk dks iwjk
djuk pkgrk gS ftlls mldh ekax c<+ tkrh gSA euq"; dh bl ço‘fÙk ds dkj.k Hkh ekax oØ
uhps nkb± vksj <kyw gksrk gSA
ekax ds fu;e ds viokn (Exceptions to the Law of Demand)
dqN voLFkkvksa esa ekax oØ ck,a ls nk,a Åij dh <kyw gksrk gS vFkkZr~ bldh <yku /kukRed
(Positive) gksrh gSA dqN fo'ks"k ifjfLFkfr;ksa esa miHkksDrk] oLrq dh dher c<+us ij vf/kd vkSj
dher fxjus ij de ek=kk [kjhnrs gSA tSlk fp=k 4 esa D oØ fn[kk;k x;k gSA Åij dh vksj
<kyw ekax oØ ds vusd dkj.k crk, tkrs gSa %
(1) ;q) (War)—;fn ;q) ;k vkikr fLFkfr ds iwoZ&vuqeku ds dkj.k oLrq dh iw£r esa
deh gks tkus dh vk'kadk gks rks dher c<+us ij yksx LVkWd djus ds fy, oLrq dks vf/kd ek=kk
esa [kjhnus yxrs gS] ftlls ekax c<+rh gSA
(2) eanh (Depression)—eanh ds nkSjku dhersa de gksus ij Hkh yksx oLrqvksa dh de
ek=kk gh [kjhnrs gSA ,slk blfy, fd miHkksDrkvksa dh Ø;&'kfDr de gksrh gSA
(3) fx¶Qu oLrq,a (Giffen Goods)—ek'kZy ds vuqlkj] fx¶Qu oLrqvksa ds dkj.k Hkh
ekax oØ ck,a ls nk,a Åij dks <kyw gksrk gSA ?kfV;k oLrq,a fx¶Qu oLrq,a dgykrh gS ftudh
dher ?kV tkus ij mudh ekax esa deh gksrh gSA ,slh oLrqvksa dk miHkksx xjhc gh djrs gSA
mnkgj.kkFkZ] ?kfV;k oLrq Tokj dh dher de gksus ls mlds miHkksDrkvksa dh okLrfod vk; c<+
tkrh gSA bl dkj.k os cf<+;k oLrq xsgw¡ dk mi;ksx vf/kd dj nsaxs ftlls Tokj dh dher de
gksus ij mldh ekax Hkh de gks tk,xhA bl çdkj ekax oØ Åij dks <kyw gksxkA
(4) çn'kZu çHkko (Demonstration Effect)—;fn miHkksDrk fn[kkoVh miHkksx ;k
çn'kZu çHkko ls çHkkfor gS rks os dherksa ds c<+us ij Hkh ,slh oLrq,a [kjhnuk pkgsxa s tks mUgsa lEeku
çnku djus okyh gksaA blds foijhr] ,slh oLrqvksa dh dhersa de gksus ij mudh ekax de gksrh
gSA tSls ghjs] tokgjkr] QS'ku dh oLrq,a vkfnA
(5) vKkurk çHkko (Ignorance Effect)—miHkksDrk vKkurk çHkko ds dkj.k Åaph
dher ij Hkh ,slh oLrq,a [kjhn ysrs gSa tks viuh dher] HkzkfUrtud iSfdax] yscy vkfn ds dkj.k
/kks[ks ls dqN vkSj le> yh tkrh gSA blds foijhr] dqN oLrq,a lLrh gksus ij Hkh vf/kd ugha
fcdrh D;ksafd muds iSafdax] yscy vkfn vkd"kZd ugha gksrsA
(6) lêk (Separation)—ek'kZy lês dks] ekax ds egÙowi.kZ vioknksa esa ls ,d ekurk gSA
mlds vuqlkj] lVksfj;ksa ds nyksa esa gksM+ ds dkj.k ekax dk fu;e ykxw ugha gksrkA ,d xzqi tks
fdlh oLrq dh cgqr vf/kd ek=kk ek£dV esa Qsaduk pkgrk gS] çk;% ml oLrq dks [kqYye[kqYyk
[kjhnuk 'kq: dj nsrk gSA bl çdkj] tc og xqzi oLrq dh dher c<+k nsrk gS] rks pqipki vkSj
vifjfpr fn'kkvksa ds ekè;e ls cgqr vf/kd ek=kk cspus dh O;oLFkk dj ysrk gSA bl çdkj] tc
dhersa c<+rh gS rks ekax Hkh c<+ tkrh gSA
(7) thouj{kd oLrq,a (Necessaries of Life)—lkekU;r% ekax dk fu;e thou j{kd
oLrqvksa tSls Hkkstu] diM+k vkfn ij ykxw ugha gksrkA bu oLrqvksa dh dher c<+us ij Hkh miHkksDrk
budh ekax de ugha dj nsrAs cfYd vDlj vkjkenk;d oLrqvksa dh ekax de djds thou j{kd
oLrqvksa dh dher c<+us ij mudks [kjhnrs gSaA bl dkj.k Hkh ekax oØ nkbZ vksj Åij dks <kyw
gksrk gSA
1. ekax esa ifjorZu (Change in Demand)

ekax esa gksus okys ifjorZuksa dks ekax oØ }kjk nks çdkj ls çdV fd;k tk ldrk gS %&
(1) ,d gh ekax oØ ds fofHkUu fcUnqvksa }kjk ekax ;k ekax oØ lapkyu (Movement
along a Demand Curve)—tc vU; ckrsa leku jgus ij dsoy oLrq dh dher esa gh ifjorZu
gksrk gS rks ekax esa gksus okys ifjorZu dks ,d gh ekax oØ ds fofHkUu fcUnqvksa }kjk çdV fd;k
tkrk gSA bls oLrq dh ek=kk esa ifjorZu (Change in Quantity of Demand) Hkh dgk tkrk gSA
dher ds de gksus ls ekax esa gksus okyh o‘f) gks ekax dk foLrkj (Extension of Demand) rFkk
dher ds c<+us ls ekax esa gksus okyh deh dks ekax dk ladqpu (Construction of Demand) dgk
tkrk gSA
(2) ekax oØ ds LFkkukUrj }kjk (Shift in the Demand Curve)—bl çdkj ds
ifjorZu esa ;fn oLrq dh dher fLFkj Hkh jgs rks Hkh ekax dks çHkkfor djus okys vU; rÙo tSls
ekSle] vk;] #fp] QS'ku] vknr vkfn ifjo£rr gks tk;sAa ¼vFkkZr~ ekax ds fu;e lEcU/kh vU; ckrsa
leku ugha jgrh½ rks ekax oØ esa LFkkukUrj.k gksrk gSA ekax oØ vius LFkku ls ljddj nk;sa
rFkk ck;sa gks tk;sxhA
bls ekax ds Lrj esa gksus okyk ifjorZu (Change in the level of Demand) Hkh dgk tkrk
gSA bu rRoksa esa ifjorZu vkus ls ekax ds ?kVus dks êkax esa deh* (Decrease in Demand) rFkk
ekax ds c<+us dks ekax esa o‘f) (Increase in Demand) dgk tkrk gSA
ekax esa gksus okys ifjorZuksa dh foLr‘r O;k[;k fuEufyf[kr <ax ls dh tk ldrh gS %&
(1) ekax dk foLrkj (Extension of Demand)—vU; ckrsa jgus ij tc fdlh oLrq dh
dher esa deh gksus ds QyLo:i mldh ekax vf/kd gks tkrh gS rks bls ekax dk foLrkj dgk tkrk
gSA (Extension of demand is a rise demand due to fall in price) A mnkgj.k ds fy, tSlk fd
uhps nh gqbZ rkfydk }kjk Kkr gksrk gS fd tc vkbZlØhe dh dher ikap :i;s gS rks ,d
vkbZlØhe dh ekax dh tkrh gS ;fn dher de gksdj ,d #i;k gks tkrh gS rks ekax dk foLrkj
gksdj ubZ ekax 5 vkbZlØhe gks tkrh gSA
ekax dk foLrkj (Extension of Demand)
dher ¼#0½ ekax dh ek=kk o.kZu
Price (Rs.) (Quantity) (Description)
5.00 1 dher esa deh

(Fall in Price)
1.00 5 ekax esa o‘f)
(Rise in Demand)
ekax ds foLrkj dks fp=k 5 }kjk çdV fd;k tk ldrk gSA bl fp=k esa AB vkbZlØhe dh
ekax oØ gSA tc vkbZlØhe dh dher ikap #i;s gS rks mldh ekax ,d gSA miHkksDrk ekax oØ
ds A fcUnq ij gSA tc vkbZlØhe dh dher de gksdj ,d #i;k gks tkrh gS rks mldh ekax
dk foLrkj gksdj ubZ ekax ikap gks tkrh gSA miHkksDrk ekax oØ ds A fcUnq ls B fcUnq ij igqap
tkrk gSA vr,o ekax oØ ds Åaps fcUnq ls uhps fcUnq dh vksj ljduk ekax ds foLrkj dks çdV
djrk gSA
fp=k 5.
(2) ekax dk ldqapu (Contraction of Demand)—vU; ckrsa leku jgus ij tc fdlh

oLrq dh dher esa o‘f) gksus ds QyLo:i mldh ekax de gks tkrh gS rks ekax esa gksus okyh deh
dks ekax dk ladqpu dgrs gSA (Constraction of demand is a fall in demand due to rise in
price). mnkgj.k ds fy, tSlk fd fuEufyf[kr rkfydk esa Kkr gksrk gS fd tc vkbZlØhe dh
dher ,d #i;k gS rks ikap vkbZlØhe dh ekax dh tkrh gSA ;fn vkbZlØhe dh dher c<+dj
ikap #i;s gks tkrh gS rks vkbZlØhe dh ekax dk ladqpu gksdj ubZ ekax ,d gks tkrh gSA
ekax dk foLrkj (Extension of Demand)
!
dher ¼#0½ ekax dh ek=kk o.kZu
Price (Rs.) (Quantity) (Description)
1.00 5 ekax esa o‘f)

(Rise in Price)
5.00 1 ekax esa deh

(Fall in Demand)
!
"
"
fp=k 6.
ekax ds ladqpu dks fp=k 6 }kjk çdV fd;k tk ldrk gSA bl fp=k esa AB vkbZlØhe
dk ekax oØ gSA tc vkbZlØhe dh dher ,d #i;k gS rks mldh ekax ikap gSA miHkksDrk ekax
oØ ds fcUnq B ij gSA blds foijhr tc vkbZlØhe dh dher c<+dj ikap #i;s gks tkrh gS
rks mldh ekax dk ladqpu gksdj ubZ ekax ,d gks tkrh gSA miHkksDrk ekax oØ ds B fcUnq ls
A fcUnq ij igqp
a tkrk gSA vr,o ,d ekax oØ ds uhps fcUnq ls Åaps fcUnq dh vksj ljduk ekax
ds ladqpu dks çdV djrk gSA
2. ekax esa o‘f) rFkk ekax esa deh
(Increase in Demand and Decrease in Demand)
ekax esa oLrq dh dher ds vfrfjDr vU; rÙoksa tSls&vk;] QS'ku vkfn esa ifjorZu gksus ds
dkj.k tks ifjorZu gksrk gS mls ekax esa o‘f) ;k deh dgrs gSaA
(1) ekax esa o‘f) (Increase in Demand)—;fn fdlh oLrq dh dher leku jgus
ij ml oLrq dh ekax c<+ tkrh gS vFkok dher c<+us ij ekax leku jgrh gS rks bl ifjorZu
esa o‘f) dgk tkrk gSA (More demand at same price or same demand at more price is
called increase in demand) A vr,o ekax esa nks çdkj ls o‘f) gks ldrh gS%
(i) leku dher&vf/kd ekax (Same Price-More Demand)—eku yhft, tc
vkbZlØhe dh dher rhu #i;s gS rks rhu vkbZlØhe dh ekax gSA ;fn vkbZlØhe dh dher rhu
#i;s gh jgs ijUrq ekax c<+dj 4 gks tkrh gS rks bls ekax esa o‘f) dgk tk,xkA
(ii) vf/kd dher&leku ekax (More Price-Same Demand)—tc vkbZlØhe dh
dher rhu #i;s gS rks ekax rhu gSA ;fn ewY; c<+dj pkj gks tk, ijUrq ekax esa dksbZ deh u
vk, og igyh ftruh vFkkZr~ rhu gh jgs rks bls Hkh ekax esa o‘f) dgk tk,xkA
Increase in Demand
Price of Ice Creams Demand of Ice Creams
(Rs.)
Same Price More Demand
(Rs.) 3 3
(Rs.) 3 4
More Price Same Demand
(Rs.) 3 3
(Rs.) 4 3
! $
&
%
#
"
fp=k 7.
ekax esa gksus okyh o‘f) dks js[kkfp=k 7 ls Li"V fd;k tk ldrk gSA eku yhft, AB
çkjfEHkd ekax oØ gSA tc vkbZlØhe dh dher rhu #i;s gS rks vkbZlØhe dh ekax Hkh rhu
gSA miHkksäk AB ekax oØ ds E fcUnq ij gSA ekax dks çHkkfor djus okys vU; rÙoksa esa ifjorZu
gksus ds dkj.k ekax oØ AB nks dkj.kksa ls Åij dh vksj ljd dj CD gks tk,xhA CD ekax
oØ ds (1) fcUnq ls F Kkr gksrk gS fd vkbZlØhe dh dher rhu #i;s ij vkbZlØhe dh ekax
3 ls c<+dj 4 gks xbZ gSA (2) fcUnq G ls Kkr gksrk gS fd vkbZlØhe dh dher c<+dj pkj #i;s
gks tkrh gS ijUrq ekax igys ftruh vFkkZr~ 3 gh jgrh gSA ubZ ekax oØ CD ekax esa gksus okyh
o‘f) dks çdV dj jgh gS
(2) ekax esa deh (Decrease in Demand)—;fn fdlh oLrq dh dher leku jgus
ij ml oLrq dh ekax de gks tkrh gS vFkok dher de gksus ij Hkh ekax leku jgrh gS
rks bl ifjorZu dks ekax esa deh dgk tkrk gSA (Less demand at same price and same
demand at less price is called decrease in demand) vr,o ekax esa nks çdkj ls deh gks ldrh
gSA
(i) leku dher] de ekax (Same Price-Less Demand)—eku yhft, tc vkbZlØhe
dh dher rhu #i;s gS rks 3 vkbZlØhe dh ekax gSA ;fn dher rks rhu #i;s gh jgs ijUrq ekax
de gksdj 2 vkbZlØhe gks tk, rks bls ekax esa deh dgk tk,xkA
(ii) de dher] leku ekax (Less Price-Same Demand)—tc vkbZlØhe dh
dher rhu #i;s gS rks ekax 3 gSA ;fn dher de gksdj nks #i;s gks tk, ijUrq ekax esa dksbZ o‘f)
ugha gks rks og igys ftruh gh vFkkZr~ 3 gh jgs rks bls ekax esa deh dgk tk,xkA
!
Decrease in Demand
$ Price of Ice Creams Demand of Ice Creams
(Rs.)
#
% Same Price Less Demand
(Rs.) 3 3
&
(Rs.) 3 2
Less Price Same Demand
(Rs.) 3 3
"
(Rs.) 2 3
fp=k 8.
ekax esa gksus okyh deh dks js[kkfp=k 8 ls Li"V fd;k tk ldrk gSA eku yhft, AB
çkjfEHkd ekax oØ gSA tc vkbZlØhe dh dher rhu #i;s gS rks vkbZlØhe dh ekax 3 gSA
miHkksäk AB ekax oØ ds E fcUnq ij gSA ekax dks çHkkfor djus okys vU; rRoksa esa ifjorZu gksus
ds dkj.k ekax nks dkj.kksa ls uhps dh vksj ljd dj CD gks tk,xhA bl ubZ ekax oØ ds (1)
fcUnq E ls Kkr gksrk gS ;|fi vkbZlØhe dh dher de gksdj nks #i;s gks xbZ gS rks ekax igys
ftruh vFkkZr~ 3 gh gSA ubZ ekax oØ CD ekax esa gksus okyh deh dks çdV djrh gSA
la{ksi esa tc dher ds vfrfjä vU; rÙoksa esa ifjorZu gksus ds dkj.k ekax esa ifjorZu gksrk
gS] rks bls ekax esa o‘f) ;k deh dgrs gS ekax esa o‘f) gksus ls ekax oØ nkb± vksj Åij dh vksj
ljd tkrh gSA blds foijhr ekax esa deh gksus ls ekax oØ uhps dh vksj ljd (Shift) tkrh
gSA
7. ijLij&lEcU/kh ekax (Inter-Connected Demand)
tc fdlh oLrq dh ekax nwljh oLrq dh ekax ij fuHkZj djrh gS rks mls ijLij lEcfUèkr
ekax dgrs gSaA ;s fuEufyf[kr çdkj dh gks ldrh gSA
(1) la;ä q ;k iwjd ekax (Joint of Complementary Demand)—tc fdlh vko';drk
dh lUrqf"V ds fy, nks ;k nks ls vf/kd oLrqvksa dh ekax ,d lkFk gh dh tkrh gS rks mls la;qä
;k iwjd ekax dgrs gSA (Joint demand means one commodity completing the other) tSls
QksVks ysus ds fy, fQYe rFkk dSejs dh ekax] eksVj pykus ds fy, dkj o iSVªksy dh ekax] pk;
ds fy;s nw/k] phuh rFkk pk; dh iÙkh dh ekaxA la;qä ekax okyh oLrqvksa dks iwjd oLrq,a dgk
tkrk gSA
(2) lkewfgd ekax (Composite Demand)—tc fdlh oLrq ls dbZ vko';drk,a iwjh
dh tk ldrh gSa mldh ekax lkewfgd ekax dgykrh gSA (Composite demand is the demand
of the same commodity for two or more purposes)—tSls % nw/k dh ekax] ngh] iuhj] [kksvk
vkfn dbZ dk;ks± ds fy, dh tkrh gS rks bldh dqy ekax] lkewfgd ekax dgyk;sxhA
(3) çR;{k rFkk O;qRiUu ekax (Direct and Derived Demand)—tc fdlh oLrq dh
ekax mldk çR;{k miHkksx djus ds fy, dh tkrh gS rks mls çR;{k ekax dgrs gS] tSls % dks;ys
dh ekax dejk xeZ djus ds fy, dh tk, ;k nw/k ihus ds fy, dh tk, rks ;g çR;{k ekax
dgyk,xhA blds foijhr ;fn ,d oLrq dh ekax fdlh nwljh oLrq dks cukus dh fy, dh tkrh
gS rks og O;qRiUu ekax (Derived Demand) dgykrh gSA (The term derived demand is used
when the demand for one commodity is the direct result of the demand for another) vU;
'kCnksa esa O;qRiUu ekax ls vfHkçk; ml ekax ls gS tks fdlh mRiknu ;k mRiknu ds lk/ku dks O;ä
djs ftldk ç;ksx fdlh vU; oLrq ds mRiknu esa fd;s tkus ds dkj.k mlesa ekax ls O;qRiUu gksA
(Derived demand is the demand for product or a factor of production which is derived
from the demand of some other product in the production of which it is used) tSls QSDVjh
esa dks;ys dh ekax] edku cukus ds fy, b±V] lhesUV] ydM+h vkfn dh ekaxA
(4) çfr;ksxh ekax (Competitive Demand)—tc nks oLrq,a ,d nwljh dh çfrLFkkiu
gksrh gSA buesa ls ,d dh ekax c<+us ij nwljs dh ekax de gks tkrh gSA blfy, bu oLrqvksa
dh ekax dks çfr;ksxh ekax dgk tkrk gSA (Demand for substitutes is known as competitive
demand. An increase in the quantity demanded of one of them will reduce the demand
for the other.) bu oLrqvksa dks çfrLFkkiu oLrq,a (Substitute) Hkh dgk tkrk gSA çfrLFkkiu
oLrq,a os oLrq,a gksrh gSa tks ,d nwljs ds fy, ç;ksx dh tk ldrh gSA ,d fuf'pr vk; ij ,d
oLrq dh dher esa ifjorZu gksus ij nwljh dh ekax esa ifjorZu vkrk gSA tSls dksdk dksyk vkSj
isIlh dksyk] ;fn dksdk dksyk dh dher c<+ tkrh gS rks isIlh dksyk dh ekax esa o‘f) gks tk,xhA
ekax ds fu/kkZjd vFkok ekax dks çHkkfor djus okys ?kVd
(Determinants of Demand or Factors Influencing Demand)
fofHkUu çdkj dh oLrqvksa dh ekax dks çHkkfor djus okys egÙoiw.kZ pjksa dh ppkZ uhps dh
tk jgh gSA
1. xSj&fVdkÅ miHkksDrk oLrq,a (Non-Durable Consumer Goods)
;s ,slh oLrq,a gksrh gSa ftudk mi;ksx flQZ ,d ckj gks ldrk gSA ;s oLrq,a gS % [kk|
lkexzh] flxjsV] ekfpl] b±/ku vkfnA ,slh oLrqvksa dh ekax Ø;&'kfDr] dher vkSj tula[;k }kjk
çHkkfor gksrh gSA bl çdkj bu oLrqvksa dh ekax dk iwokZuqeku fuEu lw=k dh lgk;rk ls fd;k
tk ldrk gS&&&
d = f (Y, P, D)
;gka d = ekax( f = Qyu( y = O;;;ksX; vk; ;k] Ø;&'kfDr( P = dher( vkSj
D = tulkaf[;dh dk lwpd gSA
(i) Ø;'kfDr (Purchasing Power)—O;fäxr vk; esa ls çR;{k djksa dks ?kVkdj
O;;;ksX; vk; çkIr dh tk ldrh gSA ijUrq bldh x.kuk esa v'kq)rk dk Hk; cuk jgrk gSA
;gh dkj.k gS fd gsUl (Haynes) tSls dbZ vFkZ'kkfL=k;ksa us ekax iwokZuqeku ds fy, O;;;ksX;
vk; ds ç;ksx dks vLohdkj dj fn;k gSA mudk dguk gS fd ekax iwokZuqeku ds fy, O;;;ksX;
vk; ds cnys ^Lofu.kZ;kRed vk;* (discretionary income) dk ç;ksx fd;k tkuk pkfg,A
Lofu.kZ;kRed vk;] O;;;ksX; vk; ls vkjksfir vk; (imputed income) vkSj eky ds :i esa vk;]
(Income in kind) çeq[k fuf'pr O;; Hkqxrku] chek fd'r Hkqxrku] yxku] ca/kd] _.k Hkqxrku
vkfn] vkSj vko';d O;; vFkkZr~ fdlh lkekU; o"kZ ds nkSjku [kk| lkexzh miHkksx ij vk/kkfjr]
oL=k vkSj ifjogu O;; vkfn dks ?kVkdj çkIr fd;k tk ldrk gSA ijUrq bldk vuqeku djuk
Hkh vklku ugha gSA blhfy, LisUlj (Spencer), DykdZ (Clark) vkSj gkWxsLV (Hoguest) tSls
vFkZ'kkfL=k;ksa us O;;;ksX; vk; dks gh vf/kd larks"ktud vo/kkj.kk crk;kA
(ii) dher (Price)—dher ekax dk vfr egÙowi.kZ fu/kkZjd gSA dksbZ oLrq vkSj mldh
iwjd oLrqvksa dh dher vkSj mldh ekax ds chp _.kkRed lac/a k gksrk gS tcfd LFkkukiUu oLrqvksa
dh dher ls ml oLrq dh ekax dk /kukRed laca/k gksrk gSA xSj&fVdkÅ miHkksDrk oLrqvksa dk
ekax iwokZuqeku djrs le; dher yksp vkSj çfr yksp dkQh mi;ksxh gks ldrk gSA xSj&fVdkÅ
miHkksDrk oLrq,a ftudk HkaMkj.k gks ldrk gS vkSj tks QS'ku lac/a kh ifjorZuksa ls Lora=k gS] lkisf{kd
:i ls vf/kd dher yksp'khy gksrh gSa] tcfd ftu oLrqvksa dk HkaMkj.k ugha gks ldrk gS] dher
csyksp gksrh gSA
(iii) tulkaf[;dh (Demography)—ekax] tula[;k ds vkdkj vkSj fo'ks"krkvksa ij Hkh
egÙoiw.kZ :i ls fuHkZj djrh gSA xSj&fVdkÅ miHkksDrk oLrqvksa dk ekax iwokZuqeku djrs le;
dqy tula[;k] vk;&oxZ] lkekftd çfr"Bk] vk;q] fyax] iq:"k&efgyk vuqikr] xzkeh.k vkSj 'kgjh
vuqikr] HkkSxksfyd fo'ks"krk,a] f'k{kk dk Lrj vkfn ij Hkh vo'; fopkj fd;k tkuk pkfg,A
mi;qZDr pjksa ds vk/kkj ij cktkj [kaM fu/kkZfjr fd;k tk ldrk gS vkSj çR;sd cktkj [kaM dh
ekax ,oa dqy cktkj ekax dk vuqeku i‘Fkd&i‘Fkd fd;k tk ldrk gS] D;ksafd ;s lHkh feydj
fopkjk/khu xSj&fVdkÅ miHkksDrk oLrqvksa dh ekax dks çHkkfor djrs gSaA
bl çdkj] xSj&fVdkÅ miHkksDrk oLrqvksa dh ekax mi;qZDr ?kVdksa }kjk fu/kkZfjr gksrh gSA
2. fVdkÅ miHkksDrk oLrq,a (Durable Consumer Goods)
bu oLrqvksa dk mi;ksx i;kZIr le; vof/k rd fd;k tk ldrk gSA ;g egÙoiw.kZ ugha
gksrk fd vof/k NksVh gS ;k yEchA ;s oLrq,a gSa % isu] VwFk&cz'k] diM+k] LdwVj] Vh0oh0 vkfnA
fVdkÅ miHkksDrk oLrqvksa dh ekax nks Hkkxksa esa foHkkftr dh tk ldrh gS % çfrLFkkiu ekax vkSj
uohu ekax] ftuds ikl igys ls gh og oLrq gS] mudh vksj ls ekax] çfrLFkkiu dh ekax vkSj iw.kZ
:i ls uohu Lokfe;ksa }kjk ekax uohu ekax dgyk,xhA nksuksa ds fy, ekax iwokZueq ku vyx& vyx
fd;k tkrk gS] D;ksafd nksuksa ij iM+us okys çHkko fHkUu gksrs gSaA bl çdkj fVdkÅ miHkksDrk
oLrqvksa dk ekax iwokZuqeku djrs le; ,d vksj Ø; fo'ks"krk,a] tks miHkksx okrkoj.k dks Li"V
djrh gS vkSj nwljh vksj fopkjk/khu oLrqvksa dh uohu] çfrLFkkiu vkSj dqy ekax dh chp ds lac/a
k ds o‘f) ekWMy ;k ewy lehdj.k ij vo'; fopkj fd;k tkuk pkfg,A fVdkÅ miHkksDrk
oLrqvksa dh ekax ds egRoiw.kZ fu/kkZjdksa dh ppkZ ;gka dh tk jgh gSa %
(i) le; vof/k (Time Period)—miHkksDrk ds ikl ;g fodYi gksrk gS fd ;fn og
vko';d le>s rks ejEer djkdj fVdkÅ oLrqvksa dk mi;ksx dbZ o"kks± rd djs ;k mls fudky
ckgj djs vkSj mlds LFkku ij u;h oLrq [kjhn ysA mnkgj.kkFkZ] dksbZ O;fDr viuh iqjkuh okf'kax
e'khu dk çfrLFkkiu mls cspdj ;k ubZ Lopkfyr e'khu dh dher esa varj dk Hkqxrku }kjk dj
ldrk gSA ijUrq ;g pquko mldh lkekftd fLFkfr] çfr"Bk] vk; dk Lrj] vçpyu dh nj vkfn
ij fuHkZj djrk gSA blds vfrfjDr] ge ns[krs gS fd ;q)] vHkko vkSj çkÑfrd vkinkvksa ds
fnuksa esa yksx fVdkÅ miHkksDrk oLrqvksa ds çfrLFkkiu dks LFkfxr dj nsrs gSA
(ii) ç;ksx dh lqfo/kk,a (Facilities of Use)—fVdkÅ miHkksDrk oLrqvksa ds mi;ksx ds
fy, lkekU;r% fo'ks"k lqfoèkkvksa dh vko';drk gksrh gSA mnkgj.kkFkZ] LdwVj vkSj dkj ds fy,
lM+d vkSj iSVªksy LVs'ku ,oa ia[kk] Vh0oh0] feDlj&xzkb.Mj vkfn ds fy, fctyh;qä ?kj dh
vko';drk gksrh gSA vr% ,slh lqfo/kkvksa dk jguk vkSj mlesa o‘f) fopkjk/khu oLrqvksa dh ekax
dh ek=kk dks fu/kkZfjr djrh gSA
(iii) tula[;k laca/kh ?kVd (Demographic Factors)—fVdkÅ miHkksDrk oLrqvksa dh
ekax dk dqy tula[;k] o‘f) nj] vk;q&fyax la;kstu] vk;&oxZ] lkekftd fLFkfr ,oa çfr"Bk]
xzkeh.k ,oa 'kgjh vuqikr] f'k{kk dk Lrj] HkkSxksfyd fo'ks"krk,a vkfn ls vfr ?kfu"V laca/k gksrk
gSA mnkgj.kkFkZ] cPpksa ds f[kykSus dh ekax tUe&nj ij fuHkZj djsxhA blh rjg lkfM+;ksa dh
ekax vk;q ds fglkc ls vkSjrksa dh la[;k ij fuHkZj djrh gSA
lkFk gh fVdkÅ oLrq,a] tks fdlh ,d lnL; }kjk ugha] cfYd iwjs ifjokj }kjk mi;ksx
dh tkrh gS] tSls jsfM;ks] Vh0oh0] QuhZpj vkfn] bu oLrqvksa dh [kjhn dk fu.kZ; ikfjokfjd
fo'ks"krkvksa] tSls ifjokjksa dh la[;k vkSj vkdkj] cPpksa vkSj o;Ldksa dk vk;q oxhZdj.k] dher]
vk; vkfn ds }kjk egÙowi.kZ :i ls çHkkfor gksrk gSA
(iv) dher vkSj _.k lqfo/kk,a (Price and Credit Facilities)—fVdkÅ miHkksDrk
oLrqvksa dh ekax mudh dherksa vkSj [kjhnus ds fy, miyC/k _.k lqfo/kkvksa ij vR;f/kd fuHkZj
djrh gSA dher ds lac/a k esa ,d egÙpiw.kZ ckr ;g gS fd oLrq dh vkSlr vk;q vkSj mldh dher
dk vuqikr D;k gS \ ;fn vkSlr vk;q vf/kd gS rks dher çHkko grksRlkfgr gksxk vkSj foykse'k%A
Åaph dher okyh fVdkÅ miHkksDrk oLrqvksa dh [kjhn ij _.k lqfo/kk viuh ekax esa Rojd
(accelerator) dk dke djrh gSA vFkkZr~ rRdky udn&Hkqxrku esa deh] _.k vof/k esa c<+ksrjh
;k C;kt nj ls deh dher o‘f) ds çHkko dks de djrh gSA vktdy dkj] LdwVj] Vh0oh0]
jsfÝtjsVj cukus okyh dbZ daifu;ka viuh fcØh c<+kus ds fy, xzkgdksa dks _.k lqfoèkk çnku dj
jgh gSaA
(v) miHkksDrk _.k cdk;k (Consumer Credit Outstandings)—;gka ,d fopkj.kh;

ckr gS fd bl çdkj fy;k x;k _.k miHkksDrk dks Hkfo"; esa pqdkuk iM+rk gS tks mldh Hkfo";
dh Lofu.kZ;kRed Ø;&'kfDr dks ?kVkrk gSA vr% ekax iwokZuqeku djrs le; miHkksDrk cdk;k
_.k dh fLFkfr ij vo'; fopkj fd;k tkuk pkfg,A ;fn miHkksDrk dh orZeku vk; ls
miHkksDrk cdk;k _.k dk vuqikr vf/kd gksrk gS rks fVdkÅ miHkksDrk oLrqvksa dh Hkfo"; dh ekax
de gks tk,xh vkSj foykse'k%A blds nks dkj.k gks ldrs gSµ,d vksj rks _.knkrk tksf[ke ds
çfr vf/kd lko/kku gks tk,ax(as vkSj nwljh vksj] miHkksDrk Lo;a vfrfjDr _.k ysuk de dj nsxa As
(vi) vk;&Lrj (Income Level)—GNP ;k O;o;ksX; vk; esa o‘f) dh laHkkouk ftruh
vf/kd gksxh] fVdkÅ miHkksDrk oLrqvksa dh ekax esa o‘f) dh laHkkouk mruh gh vf/kd gksxhA ijUrq
fo'oluh; ekax iwokZue q ku ds fy, GNP ;k O;;;ksX; O;fDrxr vk; ds cnys Lofu.kZ;kRed vk;
ds ç;ksx dks vf/kd egÙo fn;k tkus yxk gSA D;ksfa d Lofu.kZ;kRed vk; vkSj fVdkÅ miHkksDrk
oLrqvksa dh fcØh esa ?kfu"B laca/k ns[ks x, gSA
Lofu.kZ;kRed vk; ¾ O;;;ksX; vk; ¼O;fDrxr vk; ¾ vk;dj½ $ vLFkk;h vk;A
(vii) pje lhek fcUnq (Saturation Point)—pje lhek fcUnq dk fopkj fVdkÅ
miHkksDrk oLrqvksa tSls dkj] jsÝhtjsVj] okf'kax e'khu vkfn ds fy, fo'ks"k egÙowi.kZ gSA fdlh
fo'ks"k cktkj esa bl oLrqvksa dh ekax dk ,d pje lhek fcUnq gksrk gSA mnkgj.kkFkZ] tc ge ml
fLFkfr esa igqap tkrs gSa tgka yxHkx 100% ?kjksa esa okf'kax e'khu miyCèk gS rks vfrfjDr okf'kax
e'khu dh ekax dh laHkkouk lhfer gks tk,xhA ,slh fLFkfr esa eq[; :i ls çfrLFkkiu ekax dh
gksxhA
(viii) orZeku HkaMkj (Existing Stock)—dbZ fVdkÅ oLrqvksa ds ekeys esa orZeku HkaMkj
ds vkdkj vkSj vk;q oxhZdj.k dk HkaMkj esa o‘f) ij egÙoiw.kZ çHkko iM+rk gSA HkaMkj ftruk vf/
kd gksxk] çfrLFkkiu dh ek=kk Hkh mruh gh vf/kd gksxhA lkFk gh oLrq dh vk;q de gksus ij
lkisf{kd :i ls çfrLFkkiu Hkh igys gksxkA
(ix) miHkksDrk ço‘fÙk (Consumer Attitudes)—ekax iwokZuqekudÙkkZ dks miHkksDrkvksa
dh ço‘fÙk;ksa esa ifjorZu dk Kku gksuk vfr vko';d gSA blls mls cktkj ekaxksa esa Hkfo"; dh
ço‘fÙk;ksa dk irk pysxkA blds fy, miHkksDrk ;kstukvksa dk losZ{k.k dkQh mi;ksxh lkfcr gks
ldrk gSA blds vfrfjDr] dbZ lkekftd ,oa euksoSKkfud ?kVd Hkh gSa ftudks leqfpr egRo
fn;k tkuk pkfg,A
(x) uohu ekax vkSj çfrLFkkiu ekax (New Demand and Replacement Demand)—
dqy ekax dks lkadsfrd :i esa bl çdkj O;Dr fd;k tk ldrk gS % D = N + R
tgka D = dqy ekax( N = uohu ekax( vkSj R çfrLFkkiu ekax ds lwpd gSaA
uohu ekax le; esa bdkbZ ifjorZu ds lkis{k esa oLrq ds miHkksDrk HkaMkj esa ifjorZu dks
n'kkZrh gSA fVdkÅ miHkksDrk oLrqvksa ds ekeys esa Ø;&'kfDr] ifjokjksa dh la[;k vksj fopkjkèkhu
oLrqvksa ls lacaf/kr dqN vU; ?kVd ,d pje lhek (Saturation) Lrj ;k b"Vre LokfeRo Lrj
fu/kkZfjr djrs gSaA vFkkZr~ vk; ds c<+rs jgus ij Hkh yksxksa }kjk [kjhn dh tkus okyh jsÝhtjsVj
dh la[;k dh ,d lhek gksxhA miHkksDrk HkaMkj dh okLrfod ek=kk dh ço‘fÙk bl vksj tkus dh
gksrh gSA bl çdkj] bl pje lhek fcUnq vkSj okLrfod miHkksDrk HkaMkj ds chp dk vUrj
fVdkÅ miHkksDrk oLrqvksa dh ekax dh o‘f) dh laHkkouk dks n'kkZrk gSA
ge ns[krs gS fd O;fDr tc fdlh fVdkÅ oLrq dk mi;ksx djrk gS rks og dqN le; ckn
mudk mi;ksx can dj nsrk gSA ;gh çfrLFkkiu ekax iwokZuqeku ekax iqokZuqeku dks tUe nsrh gSA
çfrLFkkiu ekax miHkksDrk HkaMkj ds lkFk c<+rh gS vksj ,d lhek ds ckn uohu ekax ls Hkh vf/
kd gks tkrh gSA vPNh rjg LFkkfir dbZ oLrqvksa dh n'kk es]a fodflr ns'kksa esa vkSlr çfrLFkkiu
nj dk vuqeku djus ds fy, oLrq dh thou çR;k'kk rkfydk vksj mÙkjthfodk oØ (survival
curves) rS;kj fd, tkrs gSA Ø;&'kfDr c<+us ds lkFk&lkFk jíh ;k R;kxus ;ksX; oLrq dh nj
(scrappage rate) Hkh c<+ tkrh gS vkSj foykse'k% HkhA nwljh vksj] tc ekax mRiknu ls vf/kd
gks tkrh gS rks jíh eky dh nj de gks tkrh gSA
bl çdkj fVdkÅ miHkksDrk oLrqvksa dh ekax ds mi;qZDr fu/kkZjd gSA fQj Hkh bu oLrqvksa
dh ekax dk iwokZuqeku djuk ,d tfVy leL;k gSaA lkekU;r% budh [kjhn dk fu.kZ; rR{k.k
ugha fy;k tkrk cfYd ifjokj ds lnL;ksa ds chp i;kZIr fopkj&foe'kZ ds ckn fy;k tkrk gS
ftlls <sj lkjh vM+pusa iSnk gksrh gSA vkxs] ;fn budh dherksa esa o‘f) dh laHkkouk gS rks ekax
rsth ls c<+sxhA blds foijhr fLFkfr esa ekax LFkfxr dj nh tk,xhA ;fn oLrq esa lq/kkj gksus
dh laHkkouk gS] rks Hkh ekax LFkfxr dj nh tk,xhA
3. iwath ;k mRiknd oLrq,a (Capital or Producer’s Goods)
iwath oLrq,a os oLrq,a gksrh gS tk mu oLrqvksa ds mRiknu esa lgk;d gksrh gS tks miHkksDrk
dh vko';drkvksa dks çR;{k ;k vçR;{k :i ls larq"V djrh gS] tSls e'khu] IykaVA Ñf"k laca/
kh vkSj vkS|ksfxd dPps eky vkfn mRiknd oLrq,a Hkh nks çdkj dh gksrh gSa %
(i) ,d ckj mi;ksxh dh tkus okyh mRiknd oLrq,a (Single-use Producer’s
goods)—;s oLrq,a ckj&ckj mi;ksx dh tk ldrh gSA mnkgj.kkFkZ] dkj[kkus esa mi;ksx fd;k
tkus okys dks;yk] dPph #bZ vkfnA
(ii) fVdkÅ mi;ksx okyh mRiknd oLrq,a (Durable-use Producer’s Goods)—;s oLrq,a
,d ckj esa viuh O;ogk;Zrk ugha [kksrh] cfYd yEch vof/k rd budk mi;ksx fd;k tkrk gSA
mnkgj.kkFkZ e'khu] IykaV] dkj[kkus dk Hkou] vkStkj] vkfnA
pwfa d iwt
a h oLrq,a vkxs ds mRiknu ds fy, mi;ksx dh tkrh gS] vr% mudh ekax O;qRØe ekax
gksrh gSA vFkkZr~ ftu miHkksDrk oLrqvksa ds os mRikfnr djrs gSa mudh ekax ls gh lacaf/kr iwath
oLrqvksa dh ekax mRiUu gksrh gSA iwt a h oLrqvksa dh ekax lkekU;r% bUgsa mi;ksx djus okys m|ksxksa
ds cktkj dk vkdkj] O;olk; laHkkoukvksa] ljdkjh&uhfr;ksa vkfn ij fuHkZj djrh gSaA
iwath oLrqvksa dh ekax nks çdkj dh gks ldrh gS % uohu ekax vkSj çfrLFkkiu ekaxA vr%
bu nksuksa çdkj dh ekax dk vyx&vyx iwokZuqeku djuk vko';d gksrk gSA
iwath oLrqvksa dh ekax iwokZuqeku ds fy, fuEu vkadM+s vko';d gksrs gSa %
(i) mi;ksx djus okys m|ksxksa dh o‘f) laHkkouk,a vFkkZr ekax iwokZuqeku djrs le;
fopkjk/khu iwath oLrqvksa dk mi;ksx djus okys fofHkUu m|ksxksa esa ekax ço‘fÙk;ksa dk
iwokZuqeku vo'; fd;k tkuk pkfg,A
(ii) LFkkfir {kerk dh çfr bdkbZ iawth oLrqvksa ds miHkksx ds fu;eA lkekU;r% ;s fu;e
fLFkj gksrs gSa ijUrq dHkh&dHkh blesa ifjorZu Hkh ns[kus dks feyrk gSA
(iii) fopkjk/khu iwath oLrqvksa }kjk mRikfnr oLrq dh ekax dk iwokZuqekuA
(iv) fopkjk/khu iwath oLrq,a mi;ksx djus okys m|ksx esa vfrfjDr {kerk dk LrjA
(v) iwath oLrqvksa dk orZeku HkaMkjA
(vi) orZeku HkaMkj dk vk;q foHkktuA
(vii) vçpyu dh njA

(viii) dks"kksa dh miyC/krkA
(ix) iwath oLrq mi;ksx djus okyh Qeks± ij dks"kksa dh ykxrA
(x) dj&micU/kksa dh çÑfrA
(xi) fopkjk/khu iwath oLrqvksa dk cktkj <kapkA
(xii) LFkkukiUu vkSj iwjd oLrqvksa dh dhersa] vkfnA
mi;qZDr vkadM+ksa ds vk/kkj ij gh fopkjk/khu iwath oLrqvksa dh ekax dk iwokZuqeku fd;k tk
ldrk gSA
;gka ;g ckr Hkh egRowi.kZ gS fd O;qRØe ekax gksus ds dkj.k iwath oLrqvksa dh ekax esa
miHkksDrk oLrqvksa ds lkis{k esa vf/kd rsth ls vkSj fofHkUu rjg ls mrkj&p<+ko vkrk gSA
vr% fofHkUu çdkj dh oLrqvksa dh ekax dk iwokZueq ku djrs le; ekax dks çHkkfor djus okys
lHkh rÙoksa ij vo'; fopkj fd;k tkuk pkfg, ,oa ekax dk iwokZuqeku vyx&vyx fd;k tkuk
pkfg,A
vè;k; 3
ek¡x dh yksp % vFkZ] ekius dh fof/k;ka ,oa
çcUèkdh; mi;ksx
ELASTICITY OF DEMAND : CONCEPT AND ITS
MEASUREMENTS
vFkZ'kkL=k esa ek¡x dh yksp dk fo'ks"k egÙo gSA ;g ,d O;olk;h dks fu.kZ; ysus esa
lgk;rk djrk gSA bldk Kku çcU/kd ds fy, dbZ çdkj ls ykHknk;d gksrk gSA çcU/kd dh
ek¡x dh yksp ls D;k Qk;ns gksrs gSa \ bldk vè;;u djus ls igys ek¡x dh yksp D;k gksrh
gS \ blds çdkj D;k gksrs gSa \ mudh O;k[;k fuEu gS %&
ekax dh yksp dk vFkZ (Meaning of Elasticity of Demand)
fdlh oLrq dh ek¡xksa dks çHkkfor djus okys rÙoksa dh ek¡x ds l/kkZjd rRo dgk tkrk gSA
bu fu/kkZjd rRoksa esa çfr'kr ifjorZu gksus ls ek¡x esa gksus okys çfr'kr ifjorZu ds vuqikr dks
ek¡x dh yksp dgk tkrk gSA
ek¡x dh yksp ¾ x oLrq dh esa % ifjorZu
x oLrq ds fu/kkZj.k rRoksa esa % ifjorZu
ek¡xsa ds fu/kkZjd rRo%&
Dx = F (Px, Py, Y, Aclx1)
1. Dx = x oLrq dh ekax
2. Px = x oLrq dh dher
3. Py = Y oLrq dh dher Ad-x oLrq ds Åij foKkiu [kpZ
bUgha fu/kkZjd rRoksa ds vk/kkj ds ekax dhA
yksp dks fuEu çdkj ls ckaVk tkrk gSA
1. ek¡xsa dh dher yksp—(Price Elasticity of Demand)
2. ek¡xsa dh vk; yksp—(Income Elasticity of Demand)
3. ek¡xsa dh foKkiu yksp—(Advertise Elasticity of Demand)
4. ek¡xsa dh vkM+h yksp—(Gross Elasticity of Demand)
ek¡x dh dher yksp dh Jsf.k;k¡ vFkok va'k (Degrees of Price Elasticity)
ek¡x dh ewY; yksp dh fuEukafdr ik¡p Jsf.k;k¡ gksrh gSa %
(1) iw.kZr;k ykspnkj ek¡x (Perfectly Elastic Demand)—tc fdlh oLrq ds ewY;ksa esa
ifjorZu u gksus vFkok cgqr de ifjorZu gksus ij oLrq dh ek¡xh xbZ ek=kk esa vuUr ifjorZu
ek¡x dh yksp % vFkZ] ekius dh fof/k;kaa ,oa çcU/kdh; mi;ksx 41
gks tkrk gS] rks ,slh oLrq dh ek¡x dks iw.kZr;k ykspnkj vFkok vR;Ur ek¡x dgrs gSA ,slh oLrq
dh vf/kd bdkbZ cspus ds fy, QeZ dks çpfyr ewY; esa deh djus dh vko';drk ugha gksrh
gS] ijUrq çpfyr ewY; esa cgqr FkksM+h lh Hkh o‘f) djus ij oLrq dh ek¡x ?kVdj 'kwU; gks tkrh
gSA xf.kr dh Hkk"kk esa bls ep = α }kjk O;Dr fd;k tkrk gSA blesa ek¡x js[kk vk/kkj js[kk ds
lekukUrj (Horizontal) jgrh gSA bls js[kkfp=k 3A ls ns[kk tk ldrk gSA OP ewY; ij ek¡xh
xbZ ek=kk OM ls OM1..... n rd c<+rh pyh tkrh gSA iw.kZr;k ykspnkj ek¡x dh oLrq O;ogkj
esa ns[kus dks ugha feyrh gSA ;g ,d dkYifud /kkj.kk gSA
(2) iw.kZr;k csykspnkj ek¡x (Perfectly Inelastic Demand)—tc fdlh oLrq ds ewY;
esa vf/kd ifjorZu gksus ij Hkh mldh ek¡x ij dksbZ çHkko ugha iM+rk gS] rks ,slh oLrq dh ek¡x
iw.kZr;k csykspnkj gksrh gSA iw.kZr;k csykspnkj ek¡x dh dsoy dYiuk gh dh xbZ gS] O;ogkj esa
bl rjg dh ek¡x ugha ik;h tkrh gSA blesa ek¡x js[kk vk/kkj js[kk ij yEc :i (Vertical) gksrh
gSA bls js[kkfp=k 1B ls ns[kk tk ldrk gSA oLrq dk ewY; OP ls c<+dj OP1 gksus ij Hkh oLrq
dh ek¡x OM gh cuh jgrh gSA xf.kr dh Hkk"kk esa bls ep = 0 }kjk O;Dr fd;k tkrk gSA
fp=k 1.
(3) bdkbZ ykspnkj ek¡x vFkok ykspnkj ek¡x (Unit Elasticity or Elastic Demand)—
tc fdlh oLrq ds ewY; esa ifjorZu gksus ij mlh vuqikr esa oLrq dh ek¡x esa ifjorZu gksrk gS]
rks ml oLrq dh ek¡x dks bdkbZ ykspnkj vFkok ykspnkj ek¡x dgrs gSA xf.kr dh Hkk"kk esa bls
ep = 1 }kjk O;Dr fd;k tkrk gSA blesa ek¡x oØ dk vkdkj vk;rkdkj gkbij cksyk
(rectangular hyperbola) tSlk gksrk gS] bls js[kkfp=k 1C ls ns[kk tk ldrk gSA ftl oLrq dh
ek¡x bdkbZ ykspnkj gksrh gS] ml oLrq ds ewY;ksa esa ;fn 10% dh deh gksxh rks mldh ek¡x 10%
c<+ tk;sxhA
(4) vR;f/kd ykspnkj ek¡x (Highly Elastic Demand)—tc fdlh oLrq ds ewY; esa
FkksM+k&lk ifjorZu gksus ij mldh ek¡x esa vf/kd ifjorZu gksrk gS] rks ml oLrq dh ek¡x
vR;fèkd ykspnkj ek¡x dgykrh gSA mnkgj.k ds rkSj ij ewY; esa 5% dh deh gksus ij oLrq
dh ek¡x 20% c<+ tk;s] rks ;gk¡ oLrq dh ek¡x vR;f/kd ykspnkj gksxhA bls xf.kr dh Hkk"kk
ep > 1 ds }kjk O;Dr fd;k tkrk gSA çk;% ,slh oLrq,¡ ftuds vusd ç;ksx lEHko gksrs gS vFkok
ftuds vusd çfrLFkkiu gksrs gS] mudh ek¡x vR;f/kd ykspnkj ek¡x gksrh gSA bls js[kkfp=k 2A
ls ns[kk tk ldrk gSA fp=k esa oLrq ds ewY; esa PP1 ifjorZu gksus ij oLrq dh ek¡xh xbZ ek=kk
esa MM1 ifjorZu gksrk gS] tks ewY; ds ifjorZu ds vuqikr ls cgqr vf/kd gSA
fp=k 2.
(5) csykspnkj ek¡x vFkok bdkbZ ls de ykspnkj ek¡x (Inelastic Demand)—tc

fdlh oLrq ds ewY; esa ifjorZu gksus ij mldh ek¡x esa vis{kkÑr de ifjorZu gksrs gSa] rks mls
oLrq dh ek¡x dks csykspnkj ek¡x dgrs gSaA mnkgj.k ds rkSj ij fdlh oLrq ds ewY; esa 20 çfr'kr
deh gksus ij mldh ek¡x esa 10 çfr'kr o‘f) gks tkrh gS] rks oLrq dh ek¡x csykspnkj vFkok
bdkbZ ls de ykspnkj dgyk;sxhA xf.kr dh Hkk"kk esa bls ep > 1 }kjk O;Dr fd;k tkrk gSA
bls js[kkfp=k 2B ls ns[kk tk ldrk gSA js[kkfp=k esa ewY; esa PP1 ifjorZu gksus ij oLrq dh ek¡x
esa MM1 ifjorZu gksrk gS] tks ewY; esa gq, ifjorZu dh rqyuk esa cgqr de gSA
ekax dh ewY; yksp dks ekius dh fof/k;k¡
(Method of Measuring Price Elasticity)
ek¡x dh ewY; yksp dks ekius dh vusd fof/k;k¡ gSa ftuesa ls dqN çeq[k fof/k;k¡
fuEufyf[kr gS&
(1) çfr'kr fof/k (The Percentage Method)
(2) dqy O;; fof/k (Total Outlet Method)
(3) fcUnq fof/k (Point Method)
(4) pki fof/k (The Arc Method)
(1) çfr'kr fof/k (The Percentage Method)—bl fof/k dk çfrLFkkiu ¶yDl }kjk
fd;k x;k FkkA bl fofèk ds vuqlkj ek¡x dh yksp Kkr djus ds fy, ewY; ifjorZu ds dkj.k
ek¡x esa ftrus çfr'kr ifjorZu gksrk gS] mlesa ewY;ksa esa gq, çfr'kr ifjorZu dk Hkkx ns fn;k
tkrk gSA ;fn ,slk djus ij HkkxQy ,d vkrk gS] rks ek¡x dh yksp bdkbZ ds cjkcj gksxh]
,d ls vf/kd vkus ij ek¡x dh yksp bdkbZ ls vf/kd rFkk ,d ls de vkus ij ek¡x dh yksp
bdkbZ ls de gksxhA xf.kr ds lw=k :i esa bls fuEu çdkj O;Dr fd;k tk ldrk gS %
ek¡x esa çfr'kr ifjorZu

ep =
ewY; esa çfr' kr ifjorZu
ek¡x dh yksp % vFkZ] ekius dh fof/k;kaa ,oa çcU/kdh; mi;ksx 43
ep =
;fn ge bUgsa xf.krh; fpUgksa esa O;Dr djsa vkSj ∆¼MsYVk½ ifjorZu ds fy,] Q ek=kk ds fy,
rFkk P ewY; ds fy, ysa] rks chtxf.krh; lw=k fuEu gksxkµ
∆Q
Q ∆Q P ∆Q P
ep = = × = ×
∆P Q ∆P ∆P Q
P
oLrq ds ewY; rFkk mldh ek¡xh gqbZ ek=kk esa foijhr lEcU/k gksrk gS( vr% ek¡x dh ewY;
yksp dk xq.kkad lnSo _.kkRed gksrk gSA ek¡x dh yksp dks ekirs le; bl _.kkRed fpUg
dh çk;% vis{kk dh tkrh gS rFkk bls fn;k gqvk eku fy;k tkrk gSA
çfr'kr fof/k dks ,d mnkgj.k }kjk Li"V fd;k tk ldrk gSA
ekuk fd ,d oLrq dk ewY; 5 #i;k gS rFkk mldh ek¡x 1,000 bdkb;ksa dh gSA çFke
fLFkfr esa ;fn oLrq dk ewY; ?kVdj 4 #i;k gks tk;s rFkk mldh ek¡x c<+dj 1,100 bdkb;k¡
gks tk;s] rks oLrq dh ewY; dh yksp gksxh %
∆Q P 100 5 1
ep = × = × = <1
∆P Q 1 1,000 2
vr% ek¡x dh yksp bdkbZ ds cjkcj gSA
;fn rhljh fLFkfr esa oLrq dh dher 5 #i;s ls ?kVdj 4.5 #i;s gks tkrh gS rFkk ek¡x
1,000 bdkb;ksa ls c<+dj 1,200 bdkb;k¡ gks tkrh gS] rks ek¡x dh yksp gksxh&
∆Q P 200 5
ep = × = × =2<1
∆P Q 0.5 1,000
vFkkZr~ ek¡x dh yksp bdkbZ ls vf/kd gSA
(2) dqy O;; fof/k (The Total Outlay Method)—bl fof/k dk çfriknu çks0 ,YÝsM
ek'kZy }kjk fd;k x;k FkkA bl fof/k ds vuqlkj ek¡x dh yksp Kkr djus ds fy, ewY; ifjorZu
ls iwoZ ml oLrq ij fd;s tkus okys dqy O;; rFkk ewY; ifjorZu ds ckn fd;s tkus okys dqy
O;; dh rqyuk dh tkrh gSA bl fof/k ds vuqlkj Hkh ek¡x dh yksp bdkbZ ds cjkcj (ep = 1),
bdkbZ ls de (ep < 1) rFkk bdkbZ ls vf/kd (ep < 1) gksrh gSA
ek'kZy ds vuqlkj oLrq dh ek¡x dh ewY; yksp ml le; bdkbZ ds cjkcj gksrh gS tc
oLrq ds ewY; ?kVus vFkok c<+us ij Hkh oLrq ij dqy O;; dh ek=kk fLFkj jgrh gSA
ek¡x dh ewY; yksp ml le; bdkbZ ls vf/kd gksrh gS tc oLrq ds ewY; ?kVus ij oLrq
ij fd;s tkus okys dqy O;; dh jkf'k ?kV tkrh gS rFkk ewY; c<+us ij dqy O;; dh jkf'k c<+
tkrh gSA
dqy O;; fof/k ds vuqlkj ek¡x dh ewY; yksp dh x.kuk dks ,d mnkgj.k }kjk Li"V
fd;k tk ldrk gSA ,d miHkksDrk }kjk fdlh oLrq ij fofHkUu fLFkfr;ksa esa fd;k tkus okyk
dqy O;; vxzkafdr rkfydk 3.1. esa fn;k x;k gS %
rkfydk 3.1.
fofHkUu ewY;ksa ij oLrq dh ek¡x rFkk dqy O;;
ewY; ek¡xh xbZ ek=kk dqy O;; ek¡x dh
çfr bdkbZ ¼#0½ bdkbZ;k¡ #0 yksp
10 50 600
I 8 75 600 bdkbZ yksp
6 100 600 ep = 1
10 60 600 bdkbZ ls
II 8 100 800 vf/kd ykspnkj
6 150 900 ep > 1
10 60 600
III 8 70 560 bdkbZ yksp
6 80 480 ep < 1
rkfydk 3.1 ls Li"V gksrk gS fd çFke fLFkfr esa ek¡x dh yksp bdkbZ ds cjkcj gS D;ksafd
ewY; ifjorZu ls dqy O;; esa ifjorZu ugha gksrk gSA dqy O;; dh jkf'k oLrq dk ewY; 10 #i;s
çfr bdkbZ gksus ij Hkh 600 #i;k jgrk gS] 8 #i;s çfr bdkbZ gksus ij Hkh 600 #i;s rFkk 6 #i;s
çfr bdkbZ gksus ij Hkh 600 #i;s jgrk gSA nwljh fLFkfr esa oLrq dh ek¡x dh yksp bdkbZ ls
vf/kd gS D;ksafd ewY; ?kVus ij dqy O;; c<+rk gS rFkk ewY; c<+us ij dqy O;; ?kVrk gSA tc
ewY; 10 #i;s ls ?kVdj 8 #i;s gksrk gS] rks dqy O;; 600 #i;s ls c<+dj 800 #i;s gks tkrk
gS rFkk ewY; ?kVdj 6 #i;k gksus ij dqy O;; c<+dj 900 #i;k gks tkrk gS] tcfd ewY; 6
#i;s ls c<+dj 8 #i;k gksrk gS] rc dqy O;; 900 #i;s ls ?kVdj 800 #i;k gks tkrk gSA
rhljh fLFkfr esa ek¡x dh yksp bdkbZ ls de gS] D;ksafd ewY; ?kVus ij dqy O;; ?kVrk gS] rFkk
ewY; c<+us ij dqy O;; c<+ tkrk gSA tc ewY; ds 10 #i;s ?kVdj 8 #i;s gksus ij dqy O;;
600 #i;s ls ?kVdj 560 #i;s gks tkrk gSA blh rjg 6 #i;k ewY; gksus ij dqy O;; 480
#i;s gS] tcfd ewY; c<+dj 8 #i;s gksus ij dqy O;; 480 #i;s ls c<+dj 560 gks tkrk gSA
dqy O;; }kjk ek¡x dh yksp dh
eki dks js[kkfp=k }kjk Li"V fd;k tk
ldrk gSA js[kkfp=k 3 esa OX v{k ij
dqy O;; rFkk OY v{k ij oLrq dk ewY;
O;Dr fd;k x;k gSA bl js[kkfp=k esa
ewY; dh rhu Jsf.k;ksa ij fopkj djrs gSaA
oLrq dk ewY; tc OP ls OP1 rd de
gksrk gSA rc dqy O;; c<+rk gS( vr% ek¡x
dh yksp bdkbZ ls vf/kd gksrh gSA tc
ewY; OP1 ls ?kVdj OP2 rd gksrk gS rc
dqy O;; fLFkj jgrk gS( vr% ek¡x dh
fp=k 3.
yksp bdkbZ ls vf/kd gksrk gS rc dqy
vè;k; 4
ek¡x iwokZuqeku % vFkZ] mi;ksx vkSj ekius
dh fof/k;k¡
MEANING AND METHOD OF DEMAND FORECASTING
1. vFkZ
(Meaning)
ekax iwokZuqeku lalk/kuksa ds vkcaVu laca/kh fu.kZ;&fuekZ.k vkSj vfxze vk;kstu ds fy,
vfr vko';d gSA O;olk; txr~ tksf[keksa vkSj vfuf'prrkvksa ls Hkjk gksrk gSA iwokZuqeku dk
mís'; çca/ku ds lkeus QSyh ykxr] fcØh] dher fu/kkZj.k vkSj iwath fuos'k ls lacaf/kr
vfuf'prrkvksa dks de djuk] mfpr le; ij vko';d ek=kk mRikfnr djus ds ;ksX; cukuk
vkSj iwoZ ls gh mRiknu ds fofHkUu lk/kuksa dks Hkyh&Hkkafr O;ofLFkr djuk gSaA iwokZuqeku çcaèku
dks oLrqvksa dh lhfer ekax fu/kkZfjr djus vkSj mlds vuqlkj mRiknu dh ;kstuk cukus esa
enn djrk gSA ekax dk Bhd&Bhd iwokZuqeku djus ls vYi&mRiknu vkSj vfr&mRiknu dh
leL;k ugha jgrh gS vkSj buls gksus okyh gkfu;ksa ls QeZ cp tkrh gSA bl çdkj] O;olk; dh
lQyrk QeZ }kjk Bhd <ax ls ekax dk iwokZuqeku djus dh mldh ;ksX;rk ij fuHkZj djrh gSA
iwokZuqeku ls vfHkçk; Hkfo"; dh n'kkvksa dks ,d Øec) vk/kkj ij fu/kkZfjr djuk gSA
vr% ekax dk Hkfo";dkyhu n'kk dk oLrqxr ewY;kadu djuk gh ekax iwokZuqeku gSA
dksVyj (Kotler) us dgk] Þdaiuh dk iwokZuqeku pquh gqbZ foi.ku ;kstuk vkSj ekus gq,
foi.ku laca/kh okrkoj.k ij vk/kkfjr daiuh ds foØ; dk çR;kf'kr Lrj gksrk gSAß1
df.Md ,oa fLVy (Cundiff and Still) ds vuqlkj] ÞfoØ; iwokZuqeku fdlh fof'k"V vofèk
ds nkSjku foØ; dk ,d vuqeku gksrk gS tks çLrkfor foi.ku ;kstuk ls lac) gksrk gS vkSj tks
vfu;af=kr 'kfä;ksa ,oa çfr;ksxh 'kfä;ksa dk ,d fo'ks"k lewg ekudj pyrk gSAß2
mi;qZDr ifjHkk"kkvksa ls ekax iwokZuqeku esa fufgr fuEu ckrsa Li"V gksrk gS %
1. ekax iwokZuqeku Hkfo";dkyhu foØ; dk vuqeku gSA
2. ;g vfxze vk;kstu dk vk/kkj gSA
3. bldk laca/k ,d fuf'pr vof/k ls gksrk gSA
4. iwokZuqeku eqæk ds :i esa ;k oLrq dh bdkbZ ds :i esa gksrk gSA
1. “The company forecast is the expected of company sales based on a choosen marketing plan and
assumed marketing environment.” —Philip Kotler.
2. “Sales forecasting is an estimate of sales during a specified period which estimate is tied to a
proposed marketing plan and which assumes a particular set of uncontrollable and competitive forces.”
—Cundiff and Still.
ek¡x iwokZuqeku % vFkZ] mi;ksx vkSj ekius dh fof/k;k¡ 59
5. ;g foi.ku (marketing) laca/kh ;kstuk vkSj vk£Fkd ,oa vU; rÙoksa ij fuHkZj djrk
gSA
6. bldk vk/kkj Hkwrdkyhu vkadM+s ,oa ifjfLFkfr;ka gksrh gSA
bl çdkj] iwokZuqeku nh gqbZ n'kkvksa ds vUrxZr Hkfo";dkyhu fLFkfr dk ,d vuqeku gSA
iwokZuqeku ftruk vfèkd okLrfod gksxk] mruk gh vf/kd çHkko'kkyh fu.kZ; fy;k tk ldsxkA
fQj Hkh] lHkh Qes± viuh fcØh dk lgh&lgh iwokZuqeku ugha yxk ikrh gSA
2. ekax iwokZuqeku ds mís';

(Objectives of Demand Forecasting)
ekax iwokZuqeku dk mís'; mlds çdkjksa ds lkFk ifjo£rr gksrk gSA vr% bldk fo'ys"k.k
nks Lrjksa ij fd;k tkrk gS] vYidkyhu ,oa nh?kZdkyhuA
1. vYidkyhu ekax iwokZuqeku ds mís'; (Objectives of Short-run Demand
Forecasting)
vYidkyhu iwokZuqeku lkekU;r% ,d o"kZ dh vof/k rd dk gksrk gS] ftlesa ekSleh <kaps
(seasonal patterns) vfr egÙoiw.kZ gksrs gSaA lkFk gh bldk laca/k QeZ dh orZeku mRiknu
{kerk ls Hkh gksrk gSA vYidkyhu ekax iwokZuqeku ds eq[; mís'; fuEu gSa %
1. mi;qDr mRiknu fu/kkZfjr djuk (Determine Appropriate Production)—
vfr&mRiknu vkSj mRiknu vkSj vYi&mRiknu ;kstuk dh leL;k ls fucVus ds fy, ,d
leqfpr mRiknu ;kstuk vko';drk gksrh gS vFkkZr~ mRiknu rkfydk,a çR;kf'kr fcØh ds
vuq:i cuk;h tk,a tks iwokZuqeku ekax ds vUrxZr gh laHko gSA
2. ykxrksa esa deh vkSj ekylwph fu;a=k.k (Cost Reduction and Inventory Control)—
blls dPps eky dh cM+h ek=kk esa [kjhn gks ldsxh ftlls ykxr esa deh vk;sxhA lkFk gh bl
vuqeku ds vk/kkj ij QeZ dh Hkfo";dkyhu lalkèku vko';drkvksa dks fu/kkZfjr dj ekylwph
dks fu;af=kr fd;k tk ldrk gS] ftlls ykxrksa esa deh Hkh vk,xhA
3. mi;qDr dher uhfr (Appropriate Price Policy)—cktkj ekax n'kkvksa ds vuq:i
,d leqfpr dher uhfr rS;kj djuk vYidkyhu iwokZuqeku dk çeq[k mís'; gSA vFkkZr~ tc
cktkj n'kkvksa dk detksj gksuk çR;kf'kr gks rks dherksa esa o‘f) dks Vky fn;k tk;A nwljh
vksj tc cktkj ds etcwr gksus dh çR;k'kk gks rks dherksa esa deh ugha dh tk;A
4. foKkiu vkSj foØ; çksRlkgu (Advertising and Sales Promotion)—foØ; çksRlkgu
laca/kh fofHkUu lkFkZd ç;kl djuk vkSj foKkiu ,oa foØ; rduhdksa esa vko';d lq/kkj ds fo"k;
esa fu.kZ; djuk Hkh ekax iwokZuqeku dk mís'; gksrk gSA
5. foØ; y{; fu/kkZj.k (Determining Sales Targets)—;g mi;qDr uhfr ds fuekZ.k
esa lgk;d gksrk gSA cspus okyksa ds fy, mfpr foØ;&y{; dk fu/kkZj.k djus vkSj fu;a=k.kksa
dks ykxw djus ,oa leqfpr çsjd (incentive) ;kstukvksa ds fuekZ.k esa Hkh ;g egÙowi.kZ Hkh Hkwfedk
fuHkkrk gSA
6. vYidkyhu i iwwath vko';drkvksa dk iwokZuqeku (Forecasting Short-term Capital
Requirements)—pwafd udnh dh vko';drk fcØh Lrj vkSj mRiknu fØ;kvksa ij fuHkZj
djrh gS] blfy, ekax ;k iwokZuqeku QeZ dks igys ls gh ;qfDrlaxr 'krks± ij i;kZIr dks"kksa dh
O;oLFkk djus esa l{ke cukrk gSA
bl çdkj ,d QeZ ds ctV fuekZ.k esa vYidkyhu iwokZuqeku dk vR;f/kd egÙo gSA
2. nh?kZdkyhu ekax iwokZuqeku ds mís';

(Objectives of Long-run Demand Forecasting)
nh?kZdkyhu iwokZuqeku lkekU;r% ikap ls ckjg o"kZ dh vof/k ls lacaf/kr gksrk gSA QeZ
nh?kZdkyhu iwokZuqeku ds vUrxZr vkfJr pjksa (Dependent variables) dks çHkkfor djus okys
Lora=k pjksa dh yksp ds lkFk&lkFk Lora=k pjksa esa ifjorZu dk Hkh iwokZuqeku djrh gSA ;fn ekax
dh ço‘fÙk;ksa (trends) esa fLFkjrk dh >yd gks rks nh?kZdkyhu iwokZuqeku djuk vklku gksrk gSA
vU;Fkk ;g cgqr dfBu gksrk gS D;ksafd çkÑfrd vkink,a] ;q)] vk£Fkd mrkj&p<+ko vkSj
lkekftd] jktuhfrd ,oa euksoSKkfud ?kVdsa nh?kZdky dks vR;f/kd vfuf'pr cuk nsrh gSA
nh?kZdkyhu ekax iwokZuqeku ds mís'; fuEu gS %
1. çpkyuksa ds iSekus dk vk;kstu (Planning for Scale of Operations)—orZeku
mRiknu bdkbZ dk foLrkj ;k ubZ bdkb;ksa vFkok IykaVksa dh LFkkiuk dk vk;kstu nh?kZdkyhu
iwokZuqeku dk eq[; mís'; gSA blds fy, fopkjkèkhu oLrqvksa dh nh?kZdkyhu laHkkfor ekax dk
fo'ys"k.k vko';d gksrk gSA QeZ ds ikl leLr ekax dh o‘f) ço‘fÙk;ksa vkSj fofoèk oLrqvksa ij
ekax ds forj.k dk Kku ftruk vf/kd gksxk] mldh çfr;ksxh {kerk mruh gh vf/kd gksxhA
2. ykHknk;d fuos'k (Profitable Investment)—QeZ viuk nh?kZdkyhu iwokZuqeku djrs
le; bl ckr dk Hkh è;ku j[krh gS fd u, fuos'kksa dks tksf[ke mBkus ls igys ykHknk;d
fuos'kksa okys dk;Z{ks=kksa dk irk yxk fy;k tk;A
3. nh?kZdkyhu foÙkh; vko';drkvksa dh vk;kstu (Planning for Long-run Financial
Requirements)—iwt a h esa o‘f) ds fy, i;kZIr le; dh vko';drk gksrh gSA vr% nh?kZdkyhu
fcØh dk iwokZuqeku nh?kZdkyhu foÙkh; vko';drkvksa ds fu/kkZj.k esa vfr egÙowi.kZ gksrk gSA bl
çdkj] nh?kZdkyhu iwokZuqeku mi;qDr iwath vk;kstu esa lgk;d gksrk gSA
4. ekuo&'kfDr vko';drkvks a dk vk;ks t u (Planning for Man-power
Requirements)—nh?kZdkyhu iwokZuqeku dk ,d egÙoiw.kZ mís'; ekuo&'kfDr vk;kstu ds
fy, çf'k{k.k vkSj O;fDrxr fodkl djuk ,oa QeZ ds fofHkUu foHkkxksa esa leUo; LFkkfir djuk
gS pwafd ;s lHkh nh?kZdkyhu çfØ;k,a gSa] blfy, ;s nh?kZdkyhu ekax iwokZuqeku ds vk/kkj ij
fuèkkZfjr ekuo&'kfDr vko';drkvksa ds vuqekuksa ds vuqlkj gh dkQh igys ls çkjaHk fd, tk
ldrs gSA
bl çdkj] nh?kZdkyhu iwokZuqeku dPpk eky] ekuoh; ?kaVs] e'khuh le; vkSj {kerk dh
cckZnh jksdus esa lgk;d gSA lkFk gh] nh?kZdkyhu iwokZuqeku djrs le; pjksa esa ifjorZu] tSls
miHkksx <kapk] vk;q&oxZ <kapk] tula[;k vkfn esa ifjorZu dks Hkh è;ku esa j[kk tkrk gSA blds
vfrfjDr fdlh fo'ks"k oLrq dk ekax iwokZuqeku lacaf/kr m|ksx ds ekax iwokZuqeku esa Hkh lgk;d
gksrk gSA
3. ekax iwokZuqeku ds çdkj
(Types of Demand Forecasting)
ekax iwokZuqeku dks ge fuEu çdkjksa ds chp ckaV ldrs gSa ftldk fodkl O;kolkf;d Qeks±
dh vk;kstu vko';drkvksa ds dkj.k gqvk gSA
1. O;f"V vkSj lef"V iwokZuqeku (Micro and Macro Forecasting)—ekax iwokZuqeku
O;f"V vkSj lef"V nksuksa Lrjksa ij gksrk gS] vFkkZr~ ;g QeZ] m|ksx ;k vFkZO;oLFkk Lrj ij gks
ldrk gSA QeZ Lrj ij ekax iwokZuqeku çcU/kdh; n‘f"Vdks.k ls vfr egÙoiw.kZ gksrk gS tcfd
m|ksx Lrj ij iwokZuqeku fofHkUu O;kikj laxBuksa }kjk fd, tkrs gSaA pwafd vf/kdka'k oLrqvksa
vkSj lsokvksa dh ekax O;kolkf;d n'kkvksa ls vR;f/kd çHkkfor gksrh gS] blhfy, QeZ dh oLrq
dk ekax iwokZuqeku lEiw.kZ vFkZO;oLFkk ds fy, vk£Fkd fØ;k ds lkekU; Lrj ds iwokZuqeku ls
çkjaHk gksrk gSA
2. çfrca f /kr vkS j vçfrca f /kr iw o kZ u q e ku (Conditional and Unconditional
Forecasting)—çfrcaf/kr iwokZuqeku ds vUrxZr ekax ij dher] #fp;ka] QS'ku tSls Lora=k pjksa
esa tkus&igpkus ;k dfYir ifjorZuksa ds laHkkfor çHkko dk vuqeku fd;k tkrk gSA tcfd
vçfrcaf/kr iwokZuqeku ds vUrxZr Lo;a pjksa esa ifjorZu dk gh vuqeku fd;k tkrk gSA blesa
çfrcaf/kr iwokZuqeku ds lHkh tksf[ke fo|eku jgrs gSaA
3. lfØ; vkSj fuf"Ø; iwokZuqeku (Active and Passive Forecasting)—tc ekax
iwokZuqeku ds vUrxZr fu;ksftr dk;Zokgh vkSj dwVuhfr rS;kj fd, tkrs gS rks ;g lfØ;
iwokZuqeku dgykrk gSA vFkkZr~ ;fn QeZ oLrq dh xq.koÙkk] ç;kl] dher esa ifjorZu vkfn ds
}kjk iwokZuqeku ekax çkIr djus dk ç;kl djrh gS rks ;g lfØ; iwokZuqeku dk lwpd gksrk gSaA
nwljh vksj] ;fn QeZ vkus okys o"kZ ds fy, iwokZuqeku ekax çkIr djus ds fy, xr o"kks± dh ekax
dk lgkjk ysrh gS rks ;g fuf"Ø; iwokZuqeku dk mnkgj.k gksxkA
4. vYidkyhu vkSj nh?kZdkyhu iwokZuqeku (Short-run and Long-run Forecasting)—
ekax iwokZuqeku djrs le; ,d egÙowi.kZ fopkj.kh; fo"k; ;g gksrk gS fd fdlh fo'ks"k oLrq ds
fy, fdl vof/k dk ekax iwokZuqeku fd;k tk,A bl vk/kkj ij bls nks Hkkxksa esa ckaVk tk ldrk
gS] vYidkyhu vkSj nh?kZdkyhuA fQj Hkh] vof/k dk vUrjky ,d oLrq ls nwljh oLrq dks
ifjo£rr gksrk gSA
vYidkyhu ekax iwokZuqeku lkekU;r% ,d eghuk] rhu eghus] N%eghus ;k vxys ,d o"kZ
rd dh vof/k dk gks ldrk gSA blds fy, dkSu&lh vof/k pquh tk,xh] ;g oLrq ;k O;olk;
dh çÑfr ij fuHkZj djsxh] vFkkZr~ ;fn ml oLrq dh ekax ,d eghus ls nwljs eghus dks ifjo£rr
gks tkrh gS rks ,slh fLFkfr esa ,d vfr vYi vof/k dk iwokZuqeku fd;k tkuk mi;qDr gksxkA
lkFk gh] vYidkyhu ekax iwokZuqeku lkekU;r% LFkkfir oLrqvksa ls lacaf/kr gksrk gSA
nwljh vksj] nh?kZdkyhu ekax iwokZuqeku 5, 10 ;k 20 o"kZ rd dh vof/k dk Hkh gks ldrk
gSA ijarq] çk;% 10 o"kks± ds i'pkr~ Hkfo"; bruk vfuf'pr gks tkrk gS fd ifj;kstuk vR;f/kd
lafnX/k gks tkrh gSA uohu oLrq fodkl ds fy, nh?kZdkyhu iwokZuqeku dh vko';drk gksrh gSA
i;kZIr le; gksus ds dkj.k ekax iwokZuqeku ds vk/kkj ij mRiknu {kerk ?kVkus ;k c<+kus ls
lacafèkr fu.kZ; Hkh fy;k tk ldrk gSA ijarq nh?kZdkyhu iwokZuqeku djrs le; tula[;k] QS'ku]
#fp;ksa vkSj Øsrkvksa ds vf/kekuksa] oLrq thou&pØ] rduhd vkfn ij Hkh vo'; fopkj fd;k
tkuk pkfg,A
4. ekax iwokZuqeku dk {ks=k
(Types of Demand Forecasting)
ekax iwokZuqeku ds N% eq[; ?kVd gS tks blds {ks=k dks fu/kkZfjr djrs gSaA budh ppkZ ge
uhps dj jgs gSaA
1. iwokZuqeku dh vof/k (Period of Forecasting)—ekax iwokZuqeku le; ds n‘f"Vdks.k
ls vYidkyhu ;k nh?kZdkyhu gksrk gS] tc ekax iwokZuqeku dh vof/k vf/kd ls vf/kd ,d o"kZ
dh gks rks mls vYidkyhu iwokZuqeku dgk tkrk gSA vkSj ;fn ekax iwokZuqeku dh vof/k 5, 10,
12 ;k 20 o"kZ gks rks mls nh?kZdkyhu ekax iwokZuqeku dgrs gSA
;g eè;eku Hkh gks ldrk gS fd ftlds vUrxZr iwokZuqeku dh vof/k lkekU;r% 1 o"kZ ls
Åij vkSj ikap o"kZ ls uhps gksrh gSA ijarq vof/k;ksa dk ;g iapkax (Calender) oxhZdj.k flQZ
dkepykÅ gSA okLro esa ;g oLrq ;k O;olk; dh çÑfr ij fuHkZj djrk gSA mnkgj.kkFkZ]
Åuh oL=k dh n'kk esa 1 o"kZ nh?kZdkyhu gks ldrk gS tcfd gokbZ tgkt dh n'kk esa ;g
vYidkyhu gksxkA
vYidkyhu ekax iwokZuqeku oLrqvksa ds fy, fd, tkrs gSaA D;ksafd iwokZuqeku orZeku lalk/
kuksa ds vUrxZr gh fnu&çfrfnu ds ç;klksa ls lacaf/kr gksrs gS] blfy, iwokZuqeku djrs le;
ekSle ds vfrfjDr] QS'ku] #fp;ka vkfn rRoksa dk Hkh è;ku j[kk tkrk gSA
nwljh vksj] nh?kZdkyhu ekax iwokZuqeku uohu oLrq fodkl ds fy, fd, tkrs gSA cSVlZckbZ
(Batterby) ds vuqlkj] Þnh?kZdkyhu iwokZuqeku og gS tks çeq[k dwVuhfr fu.kZ;ksa ds fy, lwpuk
çnku djrk gS] ;g lalk/kuksa dh lhekvksa dks c<+kus ;k ?kVkus ls lacaf/kr gSAß1 çkÑfrd vkink,a]
;q)] vk£Fkd mrkj&p<+ko vkSj lkekftd] jktuhfrd ,oa euksoSKkfud ?kVdsa nh?kZdkyhu dks
vR;f/kd vfuf'pr cuk nsrh gSaA vr% nh?kZdkyhu ekax iwokZuqeku djrs le;] buds vfrfjDr
tula[;k] QS'ku] #fp;ksa vkSj Øsrkvksa ds vf/kekuksa] oLrq thou&pØ vkSj rduhd vkfn ij Hkh
fopkj fd;k tkuk vko';d gksrk gSA
QeZ dks eè;dkyhu iwokZuqeku ls lcls cM+k ykHk ;g gksrk gS fd mls ekax dh ço‘fÙk dh
tkudkjh çkIr gksrh gSA eè;dkyhu ekax iwokZuqeku esa lkaf[;dh; iwokZuqeku dh vis{kk vuqHko
vkSj dq'ky fu.kZ; vf/kd egRoiw.kZ gksrs gSaA ;g iwokZuqeku nh?kZdkyhu iwokZuqekuksa ij vk/kkfjr
fu;a=k.k ds fy, mi;ksxh gksrk gSA
2. iwokZuqeku dk Lrj (Level of Forecasting)—ekax iwokZuqeku fuEu rhu Lrjksa ij gks
ldrk gS %
¼d½ lef"V Lrj (Macro Level)—;gka lef"V Lrj ls vfHkçk; laiw.kZ vFkZO;oLFkk ds
Lrj ls gSA lef"V Lrj iwokZuqeku jk"Vªh; vk; ;k O;;] Fkksd fcØh dhersa] vkSj vkS|ksfxd
mRiknu vkfn ds ,d mi;qDr lwpd dh lgk;rk ls fd, tkrs gSA pwafd vf/kdka'k oLrqvksa vkSj
lsokvksa dh ekax O;olkf;d n'kkvksa ls vR;f/kd çHkkfor gksrh gS] blfy, QeZ dh oLrq dh ekax
iwokZuqeku laiw.kZ vFkZO;oLFkk ds fy, vk£Fkd fØ;k dk lkekU; Lrj ds iwokZuqeku ls çkjaHk gksrk
gSA
¼[k½ m|ksx Lrj (Industry Level)—m|ksx Lrj ij ekax iwokZuqeku QeZ dks ;g ladsr
nsrk gS fd vkxs laiw.kZ m|ksx dh ekax xfrfof/k;ksa dh fn'kk D;k gksxh \ blds vk/kkj ij QeZ
m|ksx ds 'ks"k Hkkx ds lkis{k esa Hkfo"; ds fy, viuh ,d leqfpr ;kstuk cuk ldsxhA ;s
iwokZuqeku miHkksDrkvksa ds bjknksa dk losZ{k.k vkSj miHkksDrk ço‘fÙk;ksa ds fo'ys"k.k ij vk/kkfjr
gksrs gSA m|ksx Lrj ij iwokZuqeku fofHkUu laxBuksa }kjk fd, tkrs gSA
¼x½ QeZ Lrj (Firm Level)—QeZ Lrj ij ekax iwokZuqeku çca/kdh; n‘f"Vdks.k ls vfr
egÙowi.kZ gksrk gSA QeZ vPNh fLFkfr esa gS ;k ugha] vFkok cktkj esa blds Hkkx dks dSls c<+k;k
tk;] bu leL;kvksa ds lek/kku esa bl iwokZuqeku dh egÙoiw.kZ Hkwfedk gksrh gSA
fofo/k&oLrq (Multi-Product) QeZ oLrq&J‘a[kyk iwokZuqeku (Product-line Forecasting)
Hkh djrh gS tks ;g fu.kZ; ysus esa enn djrh gS fd QeZ ds lhfer lalk/kuksa ds vkcaVu esa fdl
oLrq ;k oLrq lewg dks çkFkfedrk nh tk;A mnkgj.kkFkZ] efgUæk ,aM efgUæk daiuh ;g tkuuk
pkgsxh fd mls viuh lhfer lalk/kuksa ls VªSDVj dk ;k thi dk vfèkd mRiknu djuk pkfg,A
1. “A long-term forecast is one which provides information for major strategic decisions; it is concerned
with extending or reducing the limit of resources.” —Albert Battersby.
3. iwokZuqeku dh çÑfr (Nature of Forecasting)—iwokZuqeku lkekU; ;k fof'k"V mís';

ds fy, gks ldrk gSA QeZ ds fy, lkekU; iwokZuqeku rks mi;ksxh gksrk gS] ijarq bls fof'k"V
iwokZuqekuksa esa ckaVdj vkSj vf/kd mi;ksxh cuk;k tk ldrk gS] tSls oLrqvksa dh çÑfr] foØ;
ds {ks=k] ?kjsyw vkSj fons'kh cktkj vkfn ds vk/kkj ij ekax iwokZuqekuA
4. LFkkfir vkSj ubZ oLrqvksa dk iwokZuqeku (Forecasting of Established and New
Products)—LFkkfir vkSj ubZ oLrqvksa ds iwokZuqeku dh fof/k;ksa vkSj leL;kvksa esa çk;% fHkUurk
gksrh gSA LFkkfir oLrqvksa dh foØ; ço‘fÙk vkSj çfr;ksxh n'kk;sa tkuh&igpkuh gksrh gS tcfd
ubZ oLrqvksa ds lanHkZ esa ,slh ckr ugha gksrhA
5. oLrqvksa dh çÑfr (Nature of Goods)—oLrqvksa dks çk;% nks Hkkxksa esa foHkkftr fd;k
tkrk gS % (i) iwath oLrq,a] (ii) miHkksDrk fVdkÅ oLrq,a ,oa xSj fVdkÅ oLrq,aA buesa çR;sd ds
fy, ekax dk i‘Fkd <kapk gksrk gSA miHkksDrk ekax vk; ij vf/kd fuHkZj djrh gS tcfd iwt a hxr
;k mRiknd oLrqvksa dh ekax O;qRØe (derived) ekax gksus ds dkj.k vis{kkÑr rsth ls ?kVrh
c<+rh gSA
6. vU; ?kVd (Other Factors)—ekax iwokZuqeku ds varxZr oLrq vkSj cktkj fo'ks"k ls
lacaf/kr dqN fof'k"V ?kVd Hkh gksrs gSa tks blds {ks=k dks fu/kkZfjr djrs gSaA bu ij fopkj fd;k
tkuk vko';d gksrk gSA ekax iwokZuqeku djrs le; çfr;ksfxrk dh çÑfr] tksf[ke vkSj
vfu'prrk dk çHkko] blds QyLo:i iwokZuqeku esa v'kq)rk dh laHkkouk vkfn dk è;ku vo';
j[kk tkuk pkfg,A blds lkFk gh dbZ lkekftd vkSj euksoSKkfud ?kVd Hkh ekax iwokZuqeku dks
çHkkfor djrs gS] tSls oL=k m|ksx esa {ks=kh; jhfr&fjoktA miHkksDrk dh Hkfo"; ds fo"k; esa
lksp] O;fDrxr le‘f) vkSj oLrqvksa ,oa czkaMksa ds fo"k; esa muds fopkj egÙowi.kZ euksoSKkfud
?kVd gSA
bl çdkj mi;qZDr ?kVd ekax iwokZuqeku ds {ks=k dks n'kkZrs gSaA
5. vPNh iwokZuqeku fof/k dh dlkSfV;ka

(Criteria of A Good Forecasting Technique)
,d vPNh iwokZuqeku fof/k dh fuEu dlkSfV;ka gSa %
1. ;FkkFkZrk (Accuracy)—çca/ku ds nksuksa egÙoiw.kZ dk;Z] fu.kZ;&fuekZ.k vkSj vfxze
vk;kstu] ;FkkFkZ ekax ds iwokZuqeku ij vk/kkfjr gksrs gSaA lsost vkSj LekSy (Savage and Small)
ds vuqlkj] ÞiwokZuqeku rduhdh ds O;kogkfjd ç;ksx esa] lkaf[;dh; fl)kar ds mÙke rÙoksa ij
dsfUær gksus dh vis{kk Hkfo"; lwpd ;FkkFkZrk vUrr% vf/kd egÙowi.kZ gSAß iwokZuqeku fof/k dh
;FkkFkZrk ij fopkj djrs le; fiNys iwokZuqekuksa dk ijh{k.k orZeku miyfC/k;ksa vkSj orZeku
iwokZuqekuksa dk ijh{k.k] Hkfo"; dh miyfC/k;ksa ls fd;k tkuk pkfg,A bl çdkj iwokZuqekuksa dh
;FkkFkZrk dk eki nks rjg ls fd;k tk ldrk gS % (1) iwokZuqeku vkSj okLrfod miyfC/k;ksa ds
chp foypuksa (deviations) dh lhek] vkSj (2) fn'kkRed (directional) ifjorZuksa ds iwokZuqekuksa
esa lQyrk dk LrjA
2. ljyrk (Simplicity)—ljyrk ,d vPNh iwokZuqeku fof/k dh egÙoiw.kZ 'krZ gSA
iwokZuqeku fof/k ,slh gksuh pkfg, ftls çca/ku vklkuh ls le> lds vkSj ftl fof/k ls mldk
fo'okl gksA iwokZuqeku dks ljyrk O;kid cukrh gSA lkFk gh] Hkwr vkSj orZeku rFkk orZeku
vkSj Hkfo"; ds chp fujarj esy ls iwokZuqeku nh?kZdkfyd gksrk gSA
3. O;kidrk (Comprehensibility)—çca/ku mfpr ifj.kke rHkh çkIr dj ldrk gS tc
mlus ç;ksx dh tkus okyh iwokZuqeku fof/k dks vPNh rjg le>k gksA tSlk fd çks0 tksy Mhu
(Joel Dean) us dgk gS] ÞO;kidrk iwokZuqeku fof/k dh ;FkkFkZrk c<+krh gSßA vr% iwokZuqeku
fofèk;ksa] mudh ekU;rkvksa vkSj laHkkoukvksa dh vPNh tkudkjh vko';d gS D;ksafd ,d vPNk
ekax iwokZuqeku rHkh dgk tk,xk tc og fopyuksa vkSj eksM+ fcUnqvksa dh Hkh Hkfo";ok.kh djs rkfd
iwokZuqeku vf/kd çHkkoh gksA
4. ferO;f;rk (Economy)—,d vPNh iwokZuqeku fof/k esa Û;wure ykxr vkSj vf/kdre
ykHk* dk xq.k vo'; gksuk pkfg,A vFkkZr~ iwokZuqeku dh ykxr vkSj mlds ykHk dh rqyuk
vo'; dh tkuh pkfg,A bldh çpkyu ykxr (operational cost) de ls de gksA ;fn dksbZ
fo'ks"k ekax iwokZuqeku QeZ ds fy, egÙoiw.kZ ugha gS rks Åaph ykxr ij vf/kd ;FkkFkZrk çkIr
djus dks dksbZ vFkZ ugha gSA
5. yksp'khyrk (Flexibility)—fo'o xfr'khy gSA vr% ekax iwokZuqeku fof/k esa Hkh
ifjorZuksa dks 'kkfey djus dh {kerk gksuh pkfg,A ;fn iwokZuqeku fof/k esa vuqdwyu'khyrk gks]
rHkh og nh?kZdkfyd gks ldrh gSA tSlk fd dgk Hkh tkrk gS] yksp'khyrk O;kidrk dk i;kZ;
gksrk gSA
6. miyC/krk (Availability)—fdlh rduhd }kjk fu/kkZfjr y{; rd rHkh igqapk tk
ldrk gS tc rd fd mlds fy, vko';d vkadM+ksa dh miyC/krk vklku u gksA rduhd ,slh
gksuh pkfg, tks 'kh?kz vkSj vFkZiw.kZ ifj.kke miyCèk djk ldsA
7. lkef;drk (Timeliness)—,d vPNs iwokZuqeku ds fy, mldk lkef;d ¼le; ij½
gksuk vfuok;Z gSA vFkkZr~ ç;ksx dh tkus okyh rduhd ,slh gks tks 'kh?kzrk ls vFkZiw.kZ ifj.kke
miyC/k djk ldsA ;fn rduhd ds vUrxZr dkQh le; yx jgk gS rks LokHkkfod gh gS fd
fu.kZ;&fuekZ.k çfØ;k esa foyEc gksxk ftlls QeZ dks vR;f/kd gkfu mBkuh iM+sxhA
bl çdkj mi;qZDr ekunaMksa dks iwjk djus ij gh fdlh rduhd dks vPNh rduhd dgk
tk ldrk gSA
6. ekax iwokZuqeku dk egÙo
(Importance of Demand Forecasting)
fdlh fo'ks"k oLrq dh ekax dc vkSj fdruh gksxh \ vk/kqfud O;olk; dh ;g ,d çeq[k
leL;k gSA ftldh tkudkjh ekax iwokZuqeku ls gh laHko gSA bl çdkj ekax iwokZuqeku] QeZ
dks le; ij Hkfo"; dh tksf[keksa vkSj vfuf'prrkvksa ls lko/kku djrk gSA blh iwokZuqeku ij
mldk fu.kZ; fuekZ.k vkSj igys ls vk;kstu fuHkZj djrk gSA vFkkZr~ O;olk; dh lQyrk gh
ekax iwokZuqeku dh ;FkkFkZrk vkSj lQyrk ij fuHkZj djrh gSA
ekax iwokZuqeku dk egÙo fuEu ij fuHkZj djrk gSa %
1. mRiknu (Production)—QeZ dks mRiknu laca/kh fu.kZ; lgh&lgh vkSj le; ij
ysuk iM+rk gS tks ekax iwokZuqeku ds vk/kkj ij gh laHko gSA mRiknu ds fy, dbZ ?kVdksa dh
lsokvksa dh vko';drk gksrh gS] tSls ekuo&'kfDr] foÙk vkfn ftUgsa O;ofLFkr djuk iM+rk gSA
vr% ekax iwokZuqeku mRiknu laca/kh fu.kZ; vkSj vk;kstu ds fy, vfr egÙoiw.kZ gksrk gSA
mRiknu le; ij vkSj ekax ds vuqlkj fcd tkrk gSA lkFk gh QeZ ds lkeus vfr mRiknu
vkSj vYi mRiknu dh dksbZ leL;k ugha jgrh gSA
2. lkekU; fu;a=k.k (General Control)—,d vPNh rjg lksph&le>h ykxr vkSj
ykHk ctV rS;kj dj ikus dh fLFkfr esa gh fdlh O;olk;h dk QeZ ij vPNk fu;a=k.k dj ldrk
gSA blds fy, ekax iwokZuqeku dk lgkjk vko';d gks tkrk gSA
3. ekylwph fu;a=k.k (Inventory Control)—QeZ dh lQyrk ds fy, mRiknu&çfØ;k

dks fofHkUu vko';drkvksa esa ekylwfp;ksa] dPps ekyksa] dy iqtks± vkSj oLrqvksa ij mfpr fu;a=k.k
vko';d gksrk gSA QeZ vPNh fLFkfr esa rHkh gks ldrh gS tc Hkfo"; dh vko';drkvksa dk
vuqeku Bhd&Bhd <ax ls gqvk gks ftlds fy, ekax iwokZuqeku vko';d gSA
4. fcØh çksRlkgu (Sales Promotion)—ekax iwokZuqeku fcØh çksRlkgu ds fy, vk/kkj
rS;kj djrk gS tks QeZ ds fodkl ds fy, vfr vko';d gSA QeZ lkFkZd fcØh çksRlkgu ç;kl
rHkh dj ik,xh tc mlus ekax dk iwokZuqeku Bhd&Bhd fd;k gksA
5. fuos'k fu.kZ; (Investment Decisions)—QeZ dh o‘f) nh?kZdkyhu fuos'k fu.kZ;ksa ij
fuHkZj djrh gSA tcfd QeZ dh o‘f) nj vkSj nh?kZdkfyd fuos'k dk;ZØeksa dk fu/kkZj.k ,d
leqfpr ekax iwokZuqekuksa ds vk/kkj ij gh laHko gSA
6. O;kolkf;d vfuf'prrk (Business Uncertainty)—O;olk; txr tksf[keksa vkSj
vfuf'prrkvksa ls Hkjk gksrk gSA ekax iwokZuqeku dk mís'; çca/ku ds lkeus QSyh bu
vfuf'prrkvksa dks de djuk] vkSj mUgsa mfpr le; ij vko';d ek=kk mRikfnr djus ds ;ksX;
cukuk vkSj igys ls gh mRiknu ds fofHkUu lk/kuksa dks Hkyh&Hkkafr O;ofLFkr djuk gksrk gSA
7. ekSleh oLrq,a (Seasonal Products)—dqN m|ksx ,sls Hkh gS tgka ekSle çeq[k
Hkwfedk fuHkkrk gS] tSls Åuh oL=k] ia[kk] dwyj vkfnA ;gka ij ekax iwokZuqeku dk egÙo vkSj
Hkh c<+ tkrk gS] D;ksafd ,d vksj vYi mRiknu gksus ij QeZ dks ekSle dk lokZf/kd ykHk ugha
fey ik,xk] tcfd nwljh vksj vfr mRiknu gksus ij mlesa yxs lk/kuksa dh cckZnh ds dkj.k mls
gkfu gksxhA
8. vU; ?kVd (Other Factors)—blds vfrfjDr iwath çca/k] Je çca/k vkfn {ks=kksa esa Hkh
ekax iwokZuqeku dh egÙoiw.kZ Hkwfedk gksrk gSA lkFk gh] vk/kqfud ;qx esa mRiknu cM+s iSekus ij
fd;k tkrk gS ftlls ekax iwokZuqeku vkSj Hkh egÙoiw.kZ gks tkrk gSA
fu"d"kZ (Conclusion)—bl çdkj] bl xfr'khy fo'o esa Hkkoh ifjorZuksa dk vuqeku ugha
djuk QeZ dh vnwjn£'krk dks çdV djsxkA vr% QeZ ds ikl ekax iwokZuqeku djus ;k u djus
ds chp dksbZ fodYi ugha gSA ckr flQZ bruh gS fd ekax iwokZuqeku fdl fof/k ls fd;k tk,]
bls dkSu djs] vkSj mlesa dkSu&dkSu ls lalk/ku yxk, tk,a \
7. ekax iwokZuqeku dh lhek,a

(Limitations of Demand Forecasting)
ekax iwokZuqeku dh fuEu lhek,a gSa %&
1. vfuf'prrk (Uncertainty)—pwafd Hkfo"; vfuf'pr gksrk gS] blfy, dksbZ Hkh
iwokZuqeku 'kr&çfr'kr lgh ugha gks ldrk gSA çR;sd QeZ bldh vko';drk le>rh gSA fQj
Hkh] dksbZ QeZ lgh&lgh ekax iwokZuqeku ugha dj ldrhA
2. vkadM+ksa dk vHkko (Lack of Data)—ekax iwokZuqeku Hkwrdkyhu vkadM+ksa ds vk/kkj ij
fd;k tkrk gS] tcfd ge ns[krs gS fd QeZ ds ikl Hkwrdkyhu foØ; vkadM+ksa dk vHkko gksrk
gSA vko';drk ds vuqlkj bu vkadM+ksa dks ,df=kr djuk ,d dfBu dk;Z gSA
3. vR;f/kd ykxr (Heavy Cost)—ekax iwokZuqeku dh leqfpr çfØ;k esa vR;f/kd
ykxr vkrh gS ftls ogu djuk çR;sd QeZ ds o'k dh ckr ugha gksrhA ifj.kkeLo:i]
iwokZuqeku esa ;FkkFkZrk dk vHkko gks tkrk gSA
4. QS'ku (Fashion)—QS'ku esa ifjorZu fodkl dk LokHkkfod y{k.k gSA lH;rk dk

fodkl] foKkiu] lapkj vkSj ifjogu dk fodkl] ekWMfyax vkfn ds dkj.k QS'ku ifjo£rr gksrs
jgrs gSA ijarq ç'u ;g gS fd orZeku QS'ku dc rd jgsxk \ bls irk yxkuk vfr dfBu
dk;Z gSA
5. fo'ks"kKksa dk vHkko (Scarcity of Experts)—ekax iwokZuqeku dk dke dksbZ lacaf/kr
fo'ks"kK gh dj ldrk gS] tcfd ,sls fo'ks"kKksa dk vHkko ik;k tkrk gSA
6. lkekftd ?kVd (Social Factors)—gekjk lekt rsth ls cny jgk gSA lkekftd
fu;a=k.k vkSj jhfr&fjokt cny jgs gSaA vr% oLrqvksa dh ekax cny jgh gSA mnkgj.kkFkZ] /kksrh
vkSj lkM+h dk LFkku if'pe 'kSyh ds oL=k ys jgs gSA ,slh fLFkfr esa ;FkkFkZ ekax iwokZuqeku ls fHkUu
gksrh gSA
7. euksoSKkfud ?kVd (Psychological Factors)—miHkksDrk dh Hkfo"; ds fo"k; esa D;k
lksp gksxh \ oLrqvksa vkSj czkaMksa ds fo"k; esa muds D;k fopkj gksaxs \ ;s lHkh egÙoiw.kZ
euksoSKkfud lhek,a gSA blds vfrfjDr] ;q) dh vk'kadk] vk£Fkd uhfr esa ifjorZu vkfn ls
Hkh mudh eukso‘fÙk esa cnyko vk tkrk gSA ,slh fLFkfr esa ;FkkFkZ ekax dk iwokZuqeku djuk]
okLro esa] ,d dfBu dk;Z gSA
bl çdkj ekax iwokZuqeku dh mi;qZDr lhek,a gSA fQj Hkh] çR;sd QeZ dks ;Fkklaxr
;FkkFkZ ekax iwokZuqeku djus dh ps"Vk djuh pkfg,A
8. uohu oLrqvksa ds fy, ekax iwokZuqeku

(Demand Forecasting For New Products)
uohu oLrq,a vFkZO;oLFkk vkSj daiuh nksuksa ds fy, uohu gksrh gSaA vr% oLrq dh vk£Fkd
vkSj çfr;ksxh fo'ks"krkvksa dk xgu vè;;u gh gesa ;FkkFkZ ekax iwokZuqeku rd igaqpk ldrk gSA
ekax iwokZuqeku dh fof/k;ka fo'ks"k oLrq dh çÑfr ds vuq:i gksuh pkfg,aA ç'u ;g gS fd uohu
oLrqvksa dh ekax dk iwokZuqeku dSls fd;k tk;] ftuds fy, Hkwrdkyhu vkadM+s Hkh miyC/k ugha
gksrs gSA blds fy, fuEu /kkjk,a viukbZ tk ldrh gSa %
1. fodklkRed /kkj.kk (Evolutionary Approach)—fodklkRed /kkj.kk ;g ekudj
pyrh gS fd uohu oLrq orZeku iqjkuh oLrq dk fodflr :i gSA vr% bl /kkj.kk ds vuqlkj]
uohu oLrq dh ekax iwokZuqeku djrs le; iqjkuh oLrq dh pkyw ekax n'kkvksa ij vo'; fopkj
djuk pkfg,A mnkgj.kkFkZ] Mhty ,EcslM S j dkj dh ekax esa o‘f) gksrh gS] tgka iSVkª y
s ,EcslM
S j
dkj dh ekax esa deh gks tkrh gSA bl çdkj ;g /kkj.kk rHkh mi;ksxh gksxh tc uohu oLrq
orZeku iqjkuh oLrq dk fudVre LFkkukiUu gksA blds vUrxZr lcls cM+h leL;k ;g vuqeku
djuk gS fd uo :ikUrj.k dk ekax <kapk iqjkus <ax dh oLrq ds <kapk ls vyx dSls gksxkA
2. LFkkukiUu ekax /kkj.kk (Substitute Approach)—bl /kkj.kk ds vuqlkj uohu oLrq
dh ekax dk fo'ys"k.k dqN orZeku iqjkuh oLrqvksa ds LFkkukiUu ds :i esa fd;k tkuk pkfg,]
D;ksafd vf/kdka'k uohu oLrq,a LFkkukiUu gh gksrh gSA mnkgj.kkFkZ] jaxhu Vh0oh0] ';ke&'osr
Vh0oh0 dh ekax dks fdl lhek rd çHkkfor djsxk \ bl çdkj] LFkkukiUu èkkj.kk ds }kjk
uohu oLrq dk ekax iwokZuqeku vklkuh ls fd;k tk ldrk gSA ijarq dHkh&dHkh ekax iwokZuqeku
orZeku iqjkuh oLrq ds laHkkfor cktkj dh =kqfViw.kZ Åijh lhek fu/kkZfjr djrk gSA vkxs] dbZ
O;kogkfjd leL;kvksa ds fy, çfrLFkkiu dh Åijh lhek ugha] cfYd ;g egÙoiw.kZ gS fd uohu
oLrq orZeku iqjkuh oLrq dks fdruh tYnh ls foLFkkfir (displaced) dj nsxhA blds
vfrfjDr] dbZ uohu oLrqvksa ds fofHkUu&mi;ksx gksrs gSa vkSj çR;sd ,d i‘Fkd~ LFkkukiUurk dh
leL;k mifLFkr djrk gSA
3. o‘f) oØ /kkj.kk (Growth Curve Approach)—;g /kkj.kk uohu oLrqvksa dh ekax
iwokZuqeku dk fo'ys"k.k LFkkfir oLrqvksa ds o‘f) <kaps ds vk/kkj ij djrk gSA mnkgj.kkFkZ]
gkWfdUl çs'k dqdj cktkj esa mi;ksx fd, tkrs gSA vc ;fn og uohu oLrq ds :i esa
twlj&feDlj&xzkbaMj çLrqr djuk pkgsa rks blds ekax iwokZuqeku ds fy, çs'kj dqdj dh vkSlr
ekax ,d vk/kkj çLrqr dj ldrh gSA ;|fi ;g ,d vPNh /kkj.kk gS] fQj Hkh mldh
O;kogk;Zrk lhfer gSA ;g eq[;r% ekax çkstsD'ku dh ckn dh voLFkkvksa esa mi;ksxh gksrh gSA
4. fopkj ernku /kkj.kk (Opinion Polling Approach)—;g fof/k Øsrkvksa dh laHkkfor
çfrfØ;kvksa dk vè;;u djrh gSA bl /kkj.kk ds vUrxZr uohu oLrqvksa dk ekax iwokZuqeku
vafre Øsrkvksa ls çR;{k Nku&chu ds vk/kkj ij djuk pkfg,A blds fy, iwjs iSekus ij uewuksa
dk ç;ksx fd;k tkuk pkfg,A mnkgj.kkFkZ] uohu vkS|ksfxd oLrqvksa ds ekax iwokZuqeku ds fy,
dqN pqus gq, xzkgdksa dks viuh daiuh ds bathfu;j ds ikl fo'ks"k fooj.k ds lkFk Hkstdj
vko';dr vkadM+s ,df=kr djus pkfg,A ;|fi bl fof/k dk O;kid ç;ksx gksrk gS] fQj Hkh
blds vUrxZr lSEifyax] okLrfod bjknksa dh tkap] fofo/k oSdfYid pquko dh tfVyrk vkfn
leL;kvksa dk lkeuk djuk iM+rk gSA
5. foØ; vuqHko /kkj.kk (Sales Experience Approach)—bl /kkj.kk ds vUrxZr ,d
lSEiy cktkj dk pquko fd;k tkrk gSA vkxs] bl cktkj esa çR;{k Mkd ;k pqfuank forjd
L=kksrksa }kjk fcØh ds fy, uohu oLrqvksa dks çLrqr fd;k tkrk gSA lSEiy cktkj esa gq, fcØh
ds vk/kkj ij uohu oLrqvksa dk dqy ekax iwokZuqeku fd;k tkrk gSA leL;k ;g fu/kkZfjr djus
esa gSa fd lSEiy cktkj dh vifjiDork vkSj mldh [kkl fo'ks"krkvksa ds fy, dkSu&lh NwV
çnku dh tk;A blds vfrfjDr ;g fof/k Nku&chu dh çfØ;k esa Hkh nsj yxkrh gSA
6. çfrfuf/kewyd /kkj.kk (Vicarious Approach)—bl iwokZuqeku dk vk/kkj fo'ks"kK
Mhyjksa }kjk nh xbZ fjiksVZ gksrh gSA bu Mhyjksa ds ekè;e ls vçR;{k :i ls uohu oLrq ds fo"k;
esa miHkksDrkvksa dh çfrfØ;kvksa dk losZ{k.k dj ,d ;FkkFkZ ewY;kadu fd;k tkrk gSA pwafd ;s
Mhyj miHkksDrk vkSj mRiknd nksuksa ls tqM+s gksrs gSa] blfy, mUgsa miHkksDrk dh vko';drkvksa
vkSj oSdfYid voljksa ds fo"k; esa vPNh tkudkjh gksrh gSA ;|fi ;g ,d ljy fof/k gS] ijarq
blesa 'kq)rk dk vHkko ik;k tkrk gSA bl fof/k dh lQyrk Mhyjksa dh ;g vuqeku djus dh
;ksX;rk ij fuHkZj djrh gS fd Øsrk D;k djus okyk gSA vDlj] ;s Mhyj vueus <+ax ls lwpuk
nsrs gSa vr% bu Mhyjksa ds ekè;e ls çkIr fjiksVZ dh fQj ls ,d ckj tkap djuh pkfg,A
thou pØ [k.Mhdj.k fo'ys"k.k (Life Cycle Segmentation Analysis)
uohu oLrqvksa dh Hkfo"; ekax dk iwokZuqeku djus ds fy, thou pØ [kf.Mr fo'ys"k.k dk
ç;ksx fd;k tkrk gSA ;g fo'ys"k.k oLrq dk thou pØ n'kkZrk gSA
çR;sd oLrq dk ,d thou pØ gksrk gSA blds varxZr ikap voLFkk;sa vkrh gSA çR;sd
voLFkk ds fy, vyx&vyx O;kolkf;d fof/k;ka gksrh gSaA vr% ;g tkuuk vko';d gS fd
dksbZ oLrq thou&pØ dh fdlh fo'ks"k voLFkk esa dc gksxhA vkxs] dqy cktkj Hkh [k.Mksa esa
gksrk gSA vr% ,d gh oLrq dk thou pØ fofHkUu [k.Mksa esa fHkUu& fHkUu njksa ij pyrk gSA
blfy, fofHkUu voLFkkvksa esa fHkUu&fHkUu fof/k;ka viukbZ tkuh pkfg,aA thou pØ dh fuEu
voLFkk,a gSa %
I. ifjp; (Introduction)—bl voLFkk esa xq.koÙkk dk cktkj çHkko vR;f/kd gksrk gSA
mlds ckn foKkiu dk LFkku vkrk gSA bl voLFkk esa dherksa vkSj lsokvksa dk çHkko cgqr de
gksrk gSA vr% vf/kd fcØh ds fy, vPNh xq.koÙkk okyh oLrqvksa ij tksj nsuk pkfg,A
II. cqf) (Growth)—bl voLFkk esa foKkiu vkSj çpkj tSls fcØh c<+kus okys ç;klksa
dk çcy çHkko gksrk gSA
III. ifjiDork (Maturity)—bl voLFkk esa xq.koÙkk] foKkiu vkSj lsok dh vis{kk
dher vf/kd egÙoiw.kZ gksrh gSA bldk dkj.k ;g gS fd cktkj esa çfr;ksxh ços'k dj pqds gksrs
gSaA vr% vc dher yksp vf/kd gksrh gSA
IV. pje lhek (Saturation)—bl voLFkk varxZr xq.koÙkk esa oLrq foHksnhdj.k]
foKkiu] iSdsftax vf/kd egÙoiw.kZ gksrs gSaA pwafd dher igys gh de gks pqdh gksrh gS] blfy,
dher vf/kd egÙoiw.kZ ugha gksrh gSA
V. fxjkoV (Decline)—bl voLFkk esa oLrq dk
uohu mi;ksx] foKkiu vkfn dk fo'ks"k egÙo gksrk gSaA
;gka dher dk cgqr de çHkko gksrk gSA tcfd
xq.koÙkk vkSj lsok dk bruk egÙo ugha gksrk gSA
bl çdkj] oLrq ds thou&pØ dh mi;qZDr
voLFkk,a gksrh gS ftUgsa fp=k 1 esa n'kkZ;k x;k gSA tgka
lekukarj v{k ij le; vkSj vuqyac v{k ij oLrq dh
fcØh dh ek=kkvksa dks fy;k x;k gSA blesa 5 fcØh oØ
gSA ;g oØ n'kkZrk gS fd çFke] voLFkk esa tc oLrq
dk cktkj esa ifjp; fn;k tkrk gS rks fcØh /khjs&/khjs
c<+rh gSA blds i'pkr~ nwljh vkSj rhljh voLFkkvksa
fp=k 1.
esa oLrq fujarj o‘f) djrh gqbZ ifjiDo gksdj cktkj esa
viuh fLFkfr dks iw.kZr;k LFkkfir dj ysrh gSA pkSFkh voLFkk esa ;g fcØh dh pje lhek rd
igaqp tkrh gSA ijarq vfUre voLFkk esa bldh fcØh esa deh gksuh çkjaHk gks tkrh gSA
thou pØ [kaMhdj.k fo'ys"k.k ekax iwokZuqeku ds fy, cgqr gh mi;ksxh gSA cktkj ds
[kaMhdj.k }kjk ,d ;k nks voLFkkvksa ds fy, lokZf/kd mi;qZDr fof/k dk pquko fd;k tk ldrk
gSA lkFk gh ;fn çR;sd [kaM esa dqy laHkkouk] dqy cktkj laHkkouk vkSj orZeku [kaM ds ifjiDo
gksus dh xfr vkSj lhek dh tkudkjh gks rks 'ks"k] [kaMksa ds fy, Hkh mlh rjg ds iwokZuqeku fd,
tk ldrs gSaA vr% dqy cktkj ds fy, leLr ekax iwokZuqeku fd;k tk ldrk gSA
fu"d"kZ (Conclusion)
bl çdkj] uohu oLrqvksa ds ekax iwokZuqeku dh mi;qZDr fof/k;ka gSa ftudk ç;ksx ,d nwljs
ds iwjd ds :i esa gksuk pkfg,A ijarq ;s fof/k;ka vkil esa fujis{k ugha gSaA çk;% buesa ls dbZ
fof/k;ksa dk la;ksx iwjd ds :i esa vko';d gks tkrk gS rkfd ØkWl ijh{k.k (cross checking)
fd;k tk ldsaA tSlk fd çks0 tksy Mhu us dgk] Þmuesa ls dbZ dk la;ksx çk;% okaNuh; gksrk
gS rkfd os ,d nwljs ds iwjd gks ldsaAß blds vfrfjDr] uohu oLrqvksa dh ekax iwokZuqeku ds
fy, LFkkfir oLrqvksa dh ekax iwokZuqeku fof/k;ksa dk Hkh ç;ksx fd;k tk ldrk gSA
l l l
ek¡x iwokZuqeku dh fof/k;k¡ 69
vè;k; 5
ek¡x iwokZuqeku dh fof/k;ka
DEMAND FORECASTING METHOD
dksbZ Hkh O;fDr tks fdlh O;olk; esa yxk gqvk gS ;k çR;sd euq"; dh vius O;olkf;d
dk;Z ds fy, tksf[ke rFkk vfu'prrk dk lkeuk rks djuk iM+rk gSA bu tksf[ke o vfuf'prrkvksa
ds dkj.k gh çR;sd O;olk;h dks iwokZuqeku yxkuk iM+rk gSA vkSj O;olkf;d fu;kstu ,oa
fu.kZ;e ds fy, iwokZue q ku dh vko';drk gksrh gSA vkSj O;kolkf;d iwokZue q kuksa esa ekax iwokZue
q ku
lcls egÙoiw.kZ gSA ,d O;olk;h }kjk viuk dke 'kq: djus ls igys ;g iwokZueq ku yxkuk iM+rk
gS fd tks oLrq og rS;kj dj jgk gS mldh ekax D;k gksxhA
Demand Forecasting—ekax iwokZuqeku ls vfHkçk; gS fd Hkfo"; esa lEHkkfor ekax dh
ek=kk rFkk dher dk vuqeku yxkuk gSA
,d O;olk;h dks fdu&fdu ckrksa dk iwokZuqeku gksuk pkfg, rkfd og Hkfo"; esa ykHk çkIr
dj ldsa blds fy, O;olk;h fuEufyf[kr ckrksa dk iwokZuqeku yxkuk vko';d gSA
1. dPpk eky mi;qDr ek=kk esa gS ;k ughaA
2. e'khu etnwj] ç'kklfud laxBu Bhd gS ;k ughaA
3. foKkiu vkfn dgk¡ rd fd, tk,A
4. iwath ctVu dSlk gksuk pkfg, vkfnA
ekax dk iwokZueq ku yxkus ds fy, ge dqN fof/k;ksa dk ç;ksx djrs gSAa ftuls ;g Kkr fd;k
tk ldrk gS fd Hkfo"; esa ykHk gksxk ;k ugha ekax dk iwokZuqeku yxkus ds fy, eq[; :i ls nks
fof/k;ka gSa tks fuEu gSa %&
2. lsYleSu ekax ij çHkko Mkyus okys vk£Fkd rÙoksa ls vifjfpr gksrs gSa blfy, xyr
vuqeku yxk ldrs gSA
Demand Forecasting Method
Survey Method Statistical Method

( Statistical Method
Consumer Interview Expert Opinion
Method Method
Complete Sample
Survey Survey Simple Expert Delphi Expert
opinion Method
Method Method opinion Method
(1) Survey Method

(2) Statistical Method
Survey Method ds fuEufyf[kr nks çdkj gSa %&
(i) Consumer Interview Method
(ii) Expert Opinion Method
Consumer Interview Method Hkh nks çdkj dk gksrk gSA
x.kuk
(A) Complete Enumeration Method
(B) Sample Survey Method
(A) Complete Enumeration Method—bl fof/k ds vuqlkj ,d O;olk;h dh
miHkksDrkvksa ds fo"k; esa tkudkjh çkIr djuh gksrh gS vkSj ;g Hkh tkuuk iM+rk gS fd
miHkksDrkvksa dh la[;k fdruh gSA rkfd og tks O;olk; 'kq: dj jgs gks mlesa vf/kd ls
vf/kd ykHk çkIr dj ldsaA pkgs mls tkudkjh çkIr djus esa fdruk gh D;ksa u [kpZ djuk iM+sA
blds ckn ,d O;olk;h dks ekax dk iwokZue
q ku yxkuk iM+rk gS tks ,d O;olk; 'kq: djus
ls igys lcls t:jh gksrk gSA
,d O;olk;h dks gj miHkksDrk ds ikl tkdj ;g iwNuk gksrk gS fd gekjh oLrq dh fofHkUu
dherksa ij vkidh ekaxs D;k gksxhA bl çdkj O;olk;h dqy ekax dk irk djrk gSA tSls
DM = (d1 + d2 + d3 + d4 .............. dn)
bl çdkj ,d O;olk;h lHkh miHkksDrkvksa dh ekaxksa dks tksM+dj dqy ekax dk iwokZuqeku
yxkrk gSA rkfd mlds O;olk; esa ykHk gksA
fo'ks"krk,a %µ
1. fcYdqy lgh tkudkjh feyrh gSA
2. lgh fu.kZ; ysus esa lgk;d gksrh gSA
3. çR;sd miHkksDrk dh tkudkjh çkIr djus ds fy, vf/kd iSls dh t:jr gksrh gSA
4. dher r; djus esa vklkuh gksrh gSA
5. ekax dk iwokZuqeku lgh yxk;k tk ldrk gSA
vkykspuk,a %µ
1. vf/kd [kpZ % bl fof/k ds }kjk tkudkjh çkIr djus ds fy, vf/kd /ku dh t:jr
gksrh gSA dsoy ekax ds iwokZuqeku ds fy, vf/kd /ku [kpZ djuk mi;qDr ugha gSA
2. le; ds lkFk miHkksDrkvksa dk Trend cnyrk gSA LoHkko] QS'ku] :fp vkfn Hkh cnyrs
jgrs gSA
3. le; cgqr yxrk gSA
4. cM+s&cM+s 'kgjksa esa vlEHko gSA
5. lHkh miHkksDrkvksa dk irk ugha pyrk vkSj u gh miHkksDrk lgh tkudkjh nsrk gSA
6. vk£Fkd fof/k ugha gSA
(B) Sample Survey Method : bl fof/k ds }kjk ,d O;olk;h dks ;g tkudkjh çkIr
djuh iM+rh gS fd mudh oLrq dh ekax D;k gS vkSj fdrus miHkksDrk ml oLrq dks [kjhnuk pkgrs
UNIT—II
vè;k; 6
ykxr dh fofHkUu /kkj.kk;sa
VARIOUS CONCEPT OF COST
1. çLrkouk
(Introduction)
QeZ dh ykxr mldh iw£r dks fu/kkZfjr djrh gSA iw£r vkSj ekax }kjk dher fu/kkZfjr gksrh
gSA dher fu/kkZj.k dh çfØ;k vkSj iw£r dh 'kfDr;ksa dks le>us ds fy, gesa ykxr dh çÑfr
dks le>uk gksxkA bl vè;k; esa ge ykxrksa dh dqN egÙowi.kZ /kkj.kkvksa] ykxrksa ds ijEijkxr
vkSj vk/kqfud fl)karksa dk vè;;u djsaxsA
2. ykxrksa dh /kkj.kk,a
(Concepts of Costs)
çca/kdh; vFkZ'kkL=k esa QeZ dh ykxrksa esa fuEufyf[kr /kkj.kkvksa dk vè;;u fd;k tkrk gSA
1. mRiknu ykxrsa (Production Costs)
mRiknu dh çfØ;k esa dbZ fLFkj vkSj ifjorZu'khy lk/ku yxkus iM+rs gSA bu lk/kuksa dks
fdlh dher ij çkIr fd;k tk ldrk gSA mRiknu ds bu lk/kuksa ij fd, x, O;; dks gh mRiknu
dh ykxrsa dgrs gSaA
QeZ }kjk fdlh oLrq ds mRiknu ds lk/kuksa ij fd;k x;k dqy O;; eqæk ykxrsa (Money
Costs) dgykrk gS blds vUrxZr fuEufyf[kr [kps± 'kkfey gksrs gSa % (i) dPps eky dh ykxr(
(ii) etnwjh( (iii) e'khuksa vkSj midj.kksa ij O;;( (iv) fctyh o b±/ku ij O;;( (v) e'khuks]a edkuksa
vkSj ,slh vU; iwt a hxr oLrqvksa dh f?klkoV( (vi) iwta h ij C;kt( (vii) m|fe;ksa dk lkekU; ykHk(
(viii) dj( (ix) chek çhfe;e( (x) iSafdax( vkSj (xii) ifjogu vkfn ij O;;A
dqy eqæk ykxrsa nks çdkj dh gksrh gSa % Li"V (Explicit) vkSj fufgr (Implicit); ftudh
O;k[;k fuEufyf[kr gS %&
Li"V ykxrsa (Explicit Costs)
Li"V ykxrsa o okLrfod [kps± gS tks ,d QeZ ckgjh O;fDr;ksa ls oLrq,a ,oa lsok,a [kjhnus
ds fy, djrh gSaA çks0 LykseSu ds 'kCnksa esa Þlk/kuksa ds ckgjh iw£rdrkZvksa dks fd, tkus okys
Hkqxrkuksa dks Li"V ykxrsa dgrs gSAa ß buesa etnwjh vkSj osru] dPpk eky] fctyh] b±/ku] foKkiu]
ifjogu] dj] C;kt] fdjk;k vkfn ij O;; 'kkfey gksrs gSaA budks ys[kk ;k [kkrk ykxrsa
(Accounting or Book Costs), okLrfod ykxrsa (Real Costs) ;k fujis{k ykxrsa (Absolute
Costs) Hkh dgrs gSaA
ykxr dh fofHkUu /kkj.kk;sa 85
fufgr ykxrsa (Implicit Costs)
fufgr ykxrsa m|eh }kjk vius lalk/kuksa vkSj lsokvksa dk vkjksfir ewY; gSA *çks0 lyokVksj
ds vuqlkj] Þviuh mRiknu çfØ;k esa QeZ }kjk fd, x, LokfeRo lk/kuksa dk ewY; fufgr ykxrsa
gSAß nwljs 'kCnksa esa] ,d m|eh }kjk Lo;a ykxr u, (Self-employed) vkSj Lo;a&LokfeRo (self
owned) lalk/ku vius lcls cf<+;k oSdfYid ç;ksx esa tks dek ldrs gS]a os mldh fufgr ykxrsa
gSaA bl çdkj fufgr ykxr dk laca/k fdl fodYi ds R;kx ls gS (It involves a sacrifice of
some alternative) A mnkgj.kkFkZ] ,d m|eh okLro esa tks etnwjh nsrk gS] dPps eky ds fy, O;;
djrk gS] nwljksa ls #i;k m/kkj ysus ij C;kt nsrk gS] fcfYaMx dk fdjk;k nsrk gS] Li"V ykxrsa
gSaA ijUrq ;fn og viuh iwath] viuh fcfYMax vkSj viuh lsok,a vkfn viuh QeZ esa yxkrk gS
rks muds vkjksfir ewY; (imputed values) fufgr ykxrsa gksaxhA ,slk blfy, fd ;fn og bUgsa
viuh QeZ esa u yxkdj fdlh vU; oSdfYid ç;ksx (alternative use) ls tks osru] C;kt] fdjk;k
vkfn çkIr dj ldrk Fkk] ogh mldh QeZ dh fufgr ykxrsa gSaA ;s ykxrsa fdlh ckgjh i{k dks
eqæk ds çR;{k Hkqxrku ls lacaf/kr ugha gSaA (These costs do not involve a direct payment to
outside party) A budk laca/k lkèkuksa }kjk muds Js"B oSdfYid ç;ksx ls v£tr dh tk ldus
okyh dher ;k vk; ls gSA (They involve what factors could earn as price or income in their
best alternative use) A fufgr ykxrsa fuEu gksrh gSa %
(i) Lo;a m|eh }kjk fd, x, Je dh etnwjh(
(ii) mldh viuh iwath O;olk; esa yxkdj vyx ls C;kt u ysuk(
(iii) viuh tehu dk fdjk;k ugha ysuk(
(iv) m|eh dk lkekU; ykHk(
(v) ewY; ?kVko(
;s Lo;a çkIr gksus okys Hkqxrku gksrs gSaA
bl çdkj Li"V ykxrsa ykHk vkSj gkfu ds [kkrs dh x.kuk esa egÙowi.kZ gksrh gSaA tcfd
vk£Fkd fu.kZ; fuekZ.k ds fy, QeZ Li"V ykxrksa ds lkFk&lkFk fufgr ykxrksa ij Hkh fopkj djrh
gSA
2. ,sfrgkfld vkSj çfrLFkkiu ykxrsa (Historical and Replacement Costs)
fdlh ifjlaifÙk dh ,sfrgkfld ykxr ml ifjlaifÙk dks ewy :i ls çkIr djrs le; vkus
okyh okLrfod ykxr gSA tcfd çfrLFkkiu ykxr og ykxr gS tks ml ifjlaefÙk dks [kjhnrs
le; mBkus iM+xs hA bu nksuksa /kkj.kkvksa esa vUrj le; vUrjky esa dher ifjorZuksa ds dkj.k gksrk
gSA tSls foLQhfrdkjh fLFkfr;ksa esa çfrLFkkiu ykxr lacaf/kr ,sfrgkfld ykxr ls vf/kd gksxh
tcfd foLQhfrdkjh fLFkfr;ksa esa blds foijhr fLFkfr gksxhA çca/kdh; fu.kZ;&fuekZ.k esa
,sfrgkfld ykxr dh vis{kk çfrLFkkiu ykxr vf/kd mi;qDr gksrh gSA mnkgj.kkFkZ] eku fy;k
fd fdlh vkVk fey ds ikl 200 Vu xsg¡w dh eky&lwph gS] tks mlus 10,000 #0 çfrVu ds fglkc
ls [kjhnh gSA vc xsgw¡ dh dher c<+dj 12,000 #0 çfrVu gks xbZ gSA ;gka laoky ;g gs fd
QeZ dks vc vkVs dh dher fu/kkZfjr djrs le; ykxr dh dkSu&lh /kkj.kk dks vk/kkj ekuuk
pkfg,&10,000 #0 çfr Vu dh ,sfrgkfld ykxr dks ;k 12,000 #0 çfrVu dh çfrLFkkiu ykxr
dks \ Li"V gs fd QeZ çfrLFkkiu ¼orZeku½ ykxr dks gh viuk,xh D;ksfa d ;fn QeZ vius iqjkus
HkaMkj ds LFkku ij xsg¡w [kjhnuk pkgs rks mls orZeku dher (12000 #0 çfr Vu½ ij gh [kjhnuk
iM+sxkA nwljh vksj] ;fn çLrkfor çkstsDV ij xsgw¡ ds mi;ksx ds laca/k esa QeZ dk fopkj cny
tk, rks og xsgw¡ dks ubZ dher ij gh cspsxkA vr% ;gka vkvk ds dher&fu/kkZj.k esa çfrLFkkiu
ykxr gh çklafxd gSA ;|fi dj mís'; ds fy, xsgw¡ dh ykxr vHkh Hkh 10,000 #0 çfrVu gSA
mYys[kuh; gS fd çfrLFkkiu ykxr dh tkudkjh cktkj esa mfpr tkap&iM+rky ds fcuk
ugha gks ldrhA ,slh fLFkfr;ksa esa çca/ku dks muds ewY; dk lgh vuqeku yxkuk gksxkA
bl çdkj QeZ dks fu.kZ; ysrs le; ,sfrgkfld ykxrksa gks ifjo£rr dher Lrjksa ds lkFk
lek;kstu djus dk ç;kl djuk pkfg,A
3. Hkwrdkyhu vkSj Hkfo";dkyhu ykxrsa (Past and Future Costs)
Hkwrdkyhu ykxrsa chrs le; esa QeZ }kjk mBkbZ xbZ okLrfod ykxrsa gksrh gSa tks çk;%fofÙk;
ys[kksa esa 'kkfey gksrh gSA Hkwrdkyhu ykxrksa dks Hkfo"; dh laHkkfor ykxrksa ds fy, vuqeku dk
loZJ"s B vk/kkj ekuk tkrk gSA ;fn Hkwrdkyhu ykxrksa dks vf/kd ekuk tkrk gS rks çca/ku vfèkd
ykxrksa ds fy, mÙkjnk;h dkjdksa dk irk yxkus dk ç;kl djrk gS vkSj ;fn ,slk dksbZ dkjd
gS rks og mlds çHkko dks de djrk gSA
nwljh vksj] Hkfo";dkyhu ykxrsa vkus okys fnuksa esa mBkbZ tkus okyh laHkkfor ykxrsa gksrh
gSaA mYys[kuh; gS fd flQZ Hkfo";dkyhu ykxrsa gh çca/kdh; fu;a=k.k esa gksrh gSaA bu ykxrksa
dk flQZ vuqeku fd;k tkrk gSA ;fn çca/ku ns[krk gS fd Hkfo";dkyhu ykxrsa cgqr vf/kd gksus
okyh gSa rks og ;k rks mUgsa de djus ;k mu ykxrksa dks iwjk djus ds lk/ku tqVkus dh ;kstuk
cukrk gSA
bl çdkj ge ns[krs gSa fd çca/kd dk è;ku lnSo Hkfo"; dh vksj gksrk gSA blfy,
Hkwrdkyhu ykxrksa dh ctk; Hkfo";dkyhu ykxrksa dk vuqeku djuk muds fy, vko';d gksrk
gSA çca/ku dbZ dkj.kksa ls Hkfo";dkyhu ykxrksa dk iwokZuqeku djrk gSa( tSls&ykxr fu;a=k.k]
dher&fu/kkZj.k] Hkfo";dkyhu ykHk vkSj gkfu fooj.kksa dk çkstsD'ku (Projection) djus] iwath
ctV laca/kh fu.kZ;ksa] u;h oLrq ds laca/kh fu.kZ;ksa rFkk foLrkjd çksxzke vkfn ds fy,A
4. çR;{k vkSj vçR;{k ykxrsa (Direct and Indirect costs)
çR;{k ;k i‘FkDdj.kh; (separable) ;k irk yxkus ;ksX; (traceable) ykxrsa os ykxrsa gksrh
gSa ftudks fdlh i‘Fkd~ vafre mRikn] foHkkx ;k çfØ;k ds lkFk vklkuh ls lac) fd;k tk ldsA
vFkkZr~ ftu ykxrksa dh çR;{k ;k lkekU; ykxrksa dks QeZ ds çpkyu dh fdlh bdkbZ ds lkFk
lEc) ugha fd;k tk ldrkA nwljs 'kCnksa esa] vçR;{k ykxrsa os gS tks fdlh fo'ks"k IykaV] foHkkx
;k çfØ;k ls lEc) ugha gksrh rFkk ftUgsa fdlh oLrq fo'ks"k ij Hkh çR;{k :i ls forfjr ugha
fd;k tk ldrk gSA mnkgj.kkFkZ] fdlh cgq&mRikn QeZ dk çca/ku ;k fo|qr ykxr] vçR;{k ;k
lkekU; ykxr gS D;ksafd bldk mRiknksa ds chp foHkktu ugha gks ldrk tcfd dPps eky dh
ykxr dks mRikn&nj&mRikn i‘Fkd fd;k tk ldrk gSA vr% ;g çR;{k ykxr gSA dksbZ fo'ks"k
ykxr çR;{k gS ;k vçR;{kµ;g fopkjk/khu ykxr fu/kkZj.k bdkbZ ij fuHkZj djrk gSA
vk/kqfud QesZ çk;% cgq&mRikn okyh Qes± gksrh gSA m|eh&fu/kkZj.k mís'; ls çR;sd mRikn
{ks=k dh dqy ykxr tkuuk pkgrk gS rkfd og ykxr dks de&ls&de vkSj mRiknu ;k ykHk dks
vf/kd&ls&vf/kd dj ldsaA blfy, çcaèku vçR;{k ;k lkekU; ykxrksa dks fofHkUu mRiknu {ks=kksa
esa forfjr djuk pkgrk gSA ijUrq blds fy, dksbZ vklku rjhdk ugha gSA O;ogkj esa] dbZ Qes±
vçR;{k ykxrksa dks çk;% çR;sd mRiknu {ks=k }kjk laHkkfor mi;ksx ;k muds vkoÙkZ (turnover)
ds vk/kkj ij forfjr djrh gSA vr% ykxrksa dk irk pykus dh ;ksX;rk (traceability) fdlh fo'ks"k
mRiknu {ks=k esa ykxr dks c<+kus ;k ?kVkus] dher&fu/kkZj.k] çfØ;kvksa esa ifjorZu] fofHkUu foHkkxksa
dh dke dh çÑfr vkSj {kerk esa ifjorZu] foi.ku vkfn ls lacaf/kr fu.kZ;ksa esa egÙoiw.kZ Hkwfedk
fuHkkrh gSA
5. vYidkyhu vkSj nh?kZdkyhu ykxrsa (Short-Run and Long-Run Costs)
vYidkyhu vof/k og vof/k gksrh gS ftlesa mRiknu ds de&ls&de ,d lk/ku dh iw£Ùk

fLFkj gksA bl vofèk esa QeZ viuh e'khuksa] midj.kksa vkSj mRiknu ds iSekuksa dks ifjo£rr ugha
dj ldrhA c<+rh gqbZ ekax dks iwjk djus ds fy, QeZ vius mRiknu dks vf/kd Je vkSj dPpk
eky yxkdj ;k orZeku Je 'kfDr ls vf/kd le; dke djokdj gh c<+k ldrh gSA vFkkZr~
vYidkyhu ykxrsa os ykxrsa gksrh gS tks mRiknu ds lkFk ifjo£rr gksrh gS tcfd LFkkfir (fixed)
IykaV vkSj iwath midj.k vifjo£rr jgsaA
nwljh vksj] nh?kZdkyhu ykxrsa os ykxrsa gS tks mRiknu ds lkFk ifjo£rr gksrh gS tcfd
IykaV vkSj midj.k lfgr mRiknu ds lHkh lk/ku ifjorZu'khy gksAa nh?kZdky esa mRiknu ds fLFkj
lk/ku ugha gksrs gSa] blfy, fLFkj ykxrsa Hkh ugha gksrh gSaA QeZ vius IykaV dk vkdkj ;k iSekuk
cny ldrh gS vkSj de vFkok vf/kd lk/ku yxk ldrh gSA bl rjg nh?kZdky esa lHkh lkèku
ifjorZu'khy gksrs gSaA vr% lHkh ykxrsa ifjorZu'khy gSaA
çca/kdh; fu.kZ;&fuekZ.k esa nksuksa çdkj dh ykxrsa egÙowi.kZ gSaA pwafd vYidky esa QeZ dks
,d fn, gq, IykaV ds vkdkj esa vUrZxr gh b"Vre mRiknu djuk gksrk gS] blfy, blds fy,
vYidkyhu ykxr dh tkudkjh vko';d gksrh gSA tcfd nh?kZdkyhu ykxr dh tkudkjh
O;olk;h dks vius mís'; ds fy, b"Vre iSekus ;k QeZ ds b"Vre vkdkj ds vk;kstu esa ykHkçn
gksrh gSA vr% u, m|e dh LFkkiuk ds lkFk&lkFk orZeku m|e dk foLrkj] nksuksa esa nh?kZdkyhu
ykxr egÙoiw.kZ gksrh gSA
6. fu;a=k.kh; vkSj vfu;a=k.kh; ykxrsa
(Controllable and Non-Controllable Costs)
ykxr dh fu;a=k.kh;rk] fopkj/khu nkf;Ro ds Lrjksa ij fuHkZj djrh gSA fu;a=k.kh; ykxrsa
os gS tks O;kolkf;d çca/kd }kjk fu;fU=kr vkSj fu;fer dh tk ldrh gksaA tSls dPps eky dh
ykxrsa] çR;{k Je ykxrsa vkfnA
nwljh vksj] vfu;fU=kr ykxrsa os gksrh gS ftu ij O;kolkf;d ç'kkldksa dk dksbZ fu;a=k.k
;k fu;eu ugha gksrk tSls dPps eky dh ykxrsa] çR;{k ykxrsa vkfnA
;g Hkh mYys[kuh; gS fd dksbZ ykxr tks nkf;Ro ds ,d Lrj ij vfu;U=k.kh; gS] fdlh
nwljs Lrj ij fu;a=k.kh; gks ldrh gSA ijurq ,slk lkekU;r% nkf;Ro ds mPp Lrj ij gksrk gSA
nwljh ckr ;g fd fdlh&fdlh ykxr dh fu;a=k.kh;rk nks ;k vf/kd O;kolkf;d ç'kkldksa ds
v/khu gksrh gS tSls dPps eky dh ykxr tgka dher pqdkuk] Ø; foHkkx dh ftEesnkj gksrh gSa
tcfd mlds mi;ksx dk nkf;Ro mRiknu fujh{k.k dk gksrk gSA fQj Hkh] vf/kdka'k ykxrsa
fu;a=k.kh; gksrh gSa tcfd vkcafVr ykxr vfu;a=k.kh; gksrh gS D;ksafd ;g vkcaVu ds fy, viuk,
tkus okys QkewZys ds lkFk ifjo£rr gksrh gSA lkFk gh ;g ç'kkldksa ls Lora=k gksrk gSA
;g vUrj] fo'ks"kdj O;; vkSj O;kolkf;d ç'kkldksa dh dq'kyrk ds ewY;kadu esa mi;ksxh
gksrk gSA
7. vR;ko';d vkSj LFkxu ;ksX; ykxrsa (Urgent and Postponable Costs)

tks ykxrsa QeZ ds çpkyuksa dks dk;e j[kus ds fy, vko';d gksrh gSa] vR;ko';d ykxrsa
dgykrh gSa] tSls b±èku] Je vkSj dPps eky dh ykxrsaA
nwljh vksj] ftu ykxrksa dks LFkfxr dj nsus ls QeZ ds çpkyuksa ij de&ls&de dqN le;
ds fy, Hkh dksbZ çHkko ugha iM+rk] os LFkxr ;ksX; ykxrsa dgykrh gS] tSls Hkou vkSj e'khu lacèa kh
j[k&j[kko ykxrsaA
ykxr dk ;g vUrj ;q) vkSj LQhfr ds fnuksa esa vf/kd mi;ksxh gksrk gSA
8. cpkus ;ksX; vkSj vifjgk;Z ykxrsa (Escapable and Unavoidable Costs)
cpkus ;ksX; ykxrsa os gSa tks O;olk; dh fØ;kvksa esa ladp

q u ds }kjk de dh tk ldrh gksAa
;gka ykxrksa ij 'kq) çHkko egRowi.kZ gSA ijUrq vçR;{k çHkkoksa dk vuqeku yxkuk dfBu gS tSls
?kkVs esa py jgh O;kolkf;d bdkbZ dks cUn dj nsus ls ykxr rks ?kV tk,xh ijUrq blls lacfa èkr
vU; O;; tSls ;krk;kr O;; vkfn esa o‘f) gks tk,xhA nwljh vksj] vifjgk;Z ykxrsa os ykxrsa
gS tks mRiknu ds Lrj esa ifjorZu ls ifjo£rr ugha gksrh cfYd os vfuok;Z gksrh gSa] tSls fLFkj
ykxrsAa
9. o‘f)'khy vkSj Mwch gqbZ ykxrsa (Incremental and Sunk Costs)
O;kolkf;d fØ;k dh çÑfr ;k Lrj esa ifjorZu ds dkj.k gksus okyh vfrfjDr ykxr
o‘f)'khy ykxr dgykrh gSA ;s vfrfjDr ykxrsa dbZ dkj.kksa ls gks ldrh gS tSls mRiknu {ks=kksa
esa ifjorZu] ubZ oLrq dh çLrqfr] iqjkuh ;k csdkj e'khuksa ds cnys ubZ e'khus]a mRiknu dh iqjkuh
rduhdksa ds cnys ubZ rduhsdsa] forj.k ra=k esa ifjorZu vkfnA
nwljh vksj] Mwch&gqbZ ykxrsa os ykxrsa gS ftuesa O;kolkf;d fØ;k dh çÑfr ;k Lrj esa
ifjorZu gksus ls dksbZ ifjorZu ugha gksrkA ekSfyd :i ls ;s ,sfrgkfld ykxrsa gksrh gSA blfy,
;s Hkfo"; ds O;kolkf;d fu.kZ;ksa ds lanHkZ esa çklafxd ugha gksrhA Hkwrdkyhu O;; dk ifj'kksèku
vFkkZr~ ewY;âkl (Depreciation) Mwch gqbZ ykxr dk mnkgj.k gSA
;|fi dksbZ ykxr o‘f)'khy gS ;k Mwch gqbZ] ;g O;kolkf;d fØ;k dh n'kkvksa ij fuHkZj
djrk gSA vr% ,d fo'ks"k ykxr tks ,d fLFkfr esa Mwch gqbZ ykxr gS] fdlh nwljh fLFkfr esa
o‘f)'khy ykxr gks ldrh gSA
bl çdkj çca/kdh; fu.kZ;&fuekZ.k esa flQZ o‘f)'khy ykxrsa gh çklafxd gSA
10. o‘f)'khy vkSj lhekUr ykxrsa (Incremental and Marginal Costs)
lhekUr ykxr vkSj o‘f)'khy ykxr esa ?kfu"B lac/a k gSA ijUrq nksuksa esa vUrj Hkh gSA okLro
esa] o‘f)'khy ykxr dk lhekUr ykxr dh vis{kk O;kid vFkks± esa ç;ksx fd;k tkrk gSA
lhekUr ykxr] mRiknu dh ,d vfrfjDr bdkbZ mRikfnr djus dh ykxr dh gksrh gS]
tcfd o‘f)'khy ykxr dks O;kolkf;d fØ;k esa fdlh ifjorZu ls ykxr esa gksus okys ifjorZu
ds :i esa ifjHkkf"kr fd;k tkrk gSA vFkkZr~ o‘f)'khy ykxr mRiknu dh lhekUr ek=kk ls lacfa èkr
dqy vfrfjDr ykxr gksrh gSA
pwafd O;ogkj esa] vkxrksa dh iw.kZ foHkkT;rk ugha gksus ds dkj.k mls çR;sd bdkbZ ds :i
esa vyx&vyx ç;ksx djuk laHko ugha gksrk] blfy, o‘f)'khy ykxr dh /kkj.kk O;kolkf;d
txr esa vfr egÙowi.kZ gSA
11. O;kolkf;d ykxrsa vkSj iw.kZ ykxrsa (Business Costs and Full Costs)
O;kolkf;d ykxrsa os ykxrsa gS ftuesa IykaV vkSj midj.k ij ewY;âkl dk ys[kh; ykxr
ds lkFk&lkFk QeZ }kjk fd, x, Hkqxrku vkSj lafonkRed nkf;Ro 'kkfey gksrs gSA nwljh vksj
iw.kZ ykxr ds vUrxZr volj ykxr vkSj lkekU; ykHk Hkh 'kkfey gksrs gSA fdlh oLrq dh volj
ykxr og nwljk lcls vPNk fodYi gS ftldk mUgha lk/kuksa ls ;k muds leku mruh gh eqæk
ykxr ds lk/kuksa ds lewg ls mldh vis{kk mRiknu fd;k tk ldrk gSA bl çdkj volj ykxr
fNus gq, volj ;k oSdfYid R;kx dh ykxr gSA lkekU; ykHk orZeku O;olk; dks pykus ds
fy, U;wure vko';d vk; gSA ;s ykxrsa QeZ ds ykHk vkSj gkfu dh x.kuk rFkk vk;&dj vksj
vU; oSpkfjd mís';ksa ds fy, ç;ksx dh tkrh gSA
12. lkewfgd mRiknd ykxrsa (Common Production Costs)
dqN ,sls Hkh m|e gS tgka ,d gh lkewfgd mRiknu çfØ;k vkSj ,d gh dPps eky ls
fHkUu&fHkUu rjg ds nks ;k vf/kd mRikn rS;kj gksrs gSAa mnkgj.kkFkZ] fdlh lwrh oL=k ds dkj[kkus
esa ,d gh çdkj dh #bZ ls iq#"k] efgykvksa vkSj cPpksa ds fy, dbZ :i vkSj jax ds diM+s rS;kj
fd, tkrs gSaA fdurq ,sls mRikn çca/ku ds fy, dbZ egÙowi.kZ leL;k,a iSnk djrs gSaA D;ksafd
i‘Fkd mRikn ds :i esa mudh igpku lkewfgd ifj"dj.k dh lekfIr ij gh dh tk ldrh gS]
ftls lkekU;r% foPNsn fcUnq (Split off point) dgk tkrk gSA bl foPNsn fcUnq rd mBkbZ xbZ
ykxrsa gh lkewfgd ykxrsa dgykrh gSaA bu ykxrksa dh igpku i‘Fkd mRiknksa ds :i esa çR;{k%
;k rk£dd <ax ls ugha dh tk ldrh gSA
çca/kdksa ds fy, fuEu fo"k;ksa ij fu.kZ; ysrs le; ,slh ykxrksa dh igpku vko';d gksrh
gS] tSls orZeku mRiknksa esa lq/kkj vkSj mudk :ikUrj.k djus] ubZ oLrq dks çLrqr djus] fdlh oLrq
dk mRiknu jksduk vkfnA
13. la;qDr ykxrsa (Joint Costs)
tc ,d oLrq ds mRiknu esa o‘f) gksus ls nwljh oLrq ds mRiknu esa o‘f) gksrh gS rks mu
mRiknksa vkSj mudh ykxrksa dks lkekU;r% la;Dq r mRikn vkSj la;Dq r ykxr dgk tkrk gSA ijUrq
ys[kkdkj vkSj vFkZ'kkL=kh la;Dq r ykxrksa dh O;k[;k vyx&vyx rjg ls djrs gSA ,d ys[kkdkj
ds fy, ^la;Dq r* 'kCn ls vk'k; mu fLFkfr;ksa ls gS tgka eky ds ifj"dj.k (Processing) ls vius
vki nks ;k vf/kd fHkUu oLrq,a mRikfnr gks tkrh gSA mnkgj.kkFkZ] tc dks;ys ls xSl mRikfnr
dh tkrh gS rks dksd vkSj vU; mRikn Hkh Lor% mRikfnr gks tkrs gSa ,oa dk;sys dh [kjhn dher
budh la;Dq r ykxr gksxhA blh rjg ljlksa rsy vksj [ky] xsg¡w vkSj pkjk] #bZ rFkk fcukSyk vkfn
blds mnkgj.k gSaA nwljh fLFkfr ,slh Hkh gks ldrh gS tgka Hkou] midj.k] deZpkjh x.k tSls
dqN lqfo/kk,a dbZ fHkUu oLrqvksa ds mRiknu ds yxs gksx
a As ys[kkdkj bu ykxrksa dks la;Dq r ykxrksa
ds vUrxZr 'kkfey ugha djrs cfYd os bUgsa vçR;{k ykxrsa ekurs gSaA fdUrq vFkZ'kkfL=k;ksa ds fy,
;s nksuksa ykxrsa la;qDr ykxrsa gSaA
14. canh ykxrsa vkSj ifjR;Drrk ykxrsa
(Shutdown Costs and Abundonment Costs)
cUnh ykxrksa ls vfHkçk; mu ykxrksa ls gS tks IykaV çpkyu ds cUn gksus dh fLFkfr esa mBkbZ
tkrh gSA bUgsa QeZ vius çpkyuksa (Operations) dks vLFkkbZ :i ls jksdus dh fLFkfr esa mBkrh
gS vkSj ;fn çpkyu fQj 'kq# dj fn, tk, rks bu ykxrksa ls cpk tk ldrk gSA bu ykxrksa
ds vUrxZr lHkh çdkj dh fLFkj ykxrsa] IykaV vkSj midj.k dh lqj{kk laca/kh ykxrsa ,oa [kqys esa
iM+h laifÙk ds fy, Nkouh ds fuekZ.k ij ykxrsa] IykaV dk çpkyu nqckjk 'kq: gksus ij odZjksa dh
iqu% fu;qfDr vkSj çf'k{k.k laca/kh ykxrsa vkfn vkrh gSA
nwljh vksj] ifjR;Drrk ykxrsa os gSa tks IykaV dks mi;ksx ls iw.kZr;k gVk ysus ds fy, mBkbZ
tkrh gSaA ;s ykxrsa ifjlaifÙk;ksa ds fuiVkjs dh leL;k ls lacaf/kr gksrh gSaA mnkgj.kkFkZ] fnYyh
esa Vªke lsokvksa dh lekfIr ls lacaf/kr ykxrsaA
çca/kdksa ds fy, ;g foHksn ml le; egÙowi.kZ gksrk gS tc mls orZeku IykaV dks dk;e
j[kus ;k mlds çpkyuksa dks LFkfxr djus ;k mls iw.kZr;k cUn dj nsus esa ls fdlh ,d fu.kZ;
dks ysuk iM+rk gSA
15. ys[kkadu vkSj vk£Fkd ykxrsa (Accounting and Economic Costs)
fdlh QeZ }kjk ,d oLrq ds mRiknu esa fd, x, dqy eqæk O;; dks eqæk ykxrsa (money
costs) dgrs gSaA blesa Je dh etnwjh vkSj osru( dPps eky dh ykxr( e'khuksa vkSj midj.kksa
dk [kpZ( e'khuksa ds ewY; âkl vkSj f?klus vksj u pyus dk O;;( fcfYaMx rFkk vU; iwath&inkFkZ
vkSj fcfYMax dk fdjk;k( m/kkj yh gqbZ iwta h dk C;kt( fctyh] b±/ku] ;krk;kr vkSj foKkiu( rFkk
ches dk [kpZ vkSj lc çdkj ds dj 'kkfey gSA ;s ys[kkadu ykxrsa gS tks ,d m|eh mRiknu
fd fofHkUu lk/kuksa dks Hkqxrku djus ds fy, è;ku esa j[krk gSA ;s eqæk ykxrsa lqfuf'pr ykxrsa
(explicit costs) dgykrh gS tks ,d ys[kkdkj QeZ dh ys[kk iqLrdksa esa ntZ djrk gSA ysfdu ,d
vU; çdkj dh Hkh vk£Fkd ykxrsa gksrh gS ftUgsa varfu£gr ykxrsa (Imputed costs) dgrs gSA
m|ksx ds vius L=kksrksa vkSj lsokvksa dk vkjksfir ewY; (imputed value) varfu£gr ykxr gSA
çcaèkdÙkkZ&ekfydk dk osru] tks osru u ysdj lkekU; ykHk ls gh larq"V gS( ;fn fcfYaMx
m|ksxifr dh viuh gks] rks mldk vuqekfur fdjk;k( vkSj ek£dV dh C;kt nj ij m|ksxifr
dh viuh yxkbZ gqbZ iwta h dk C;kt] ykxr esa vkrs gSA vr% vk£Fkd ykxrksa esa ys[kkadu ykxrsa tek
varfu£gr ykxrsa 'kkfey gksrh gS] vFkkZr~ lqfuf'pr rFkk varfu£gr nksuksa çdkj dh ykxrsaA
ys[kkadu ykxrsa djkjksi.k laca/kh vko';drkvksa ds çca/ku] rFkk QeZ ds ykHk ;k gkfu dh
x.kuk esa mi;ksxh gksrh gSaA nwljh vksj] pwafd vk£Fkd ykxrsa Hkfo"; ls lacaf/kr gksrh gS blfy,
vk£Fkd ykxrsa çca/kdh; fu.kZ;&fuekZ.k esa dkQh mi;ksxh gksrh gSA
16. okLrfod ykxr vkSj volj ykxr (Actual Cost and Opportunity Cost)
okLrfod ykxr] QeZ dk okLrfod foÙkh; gksrk gSA vFkkZr~ okLrfod foÙkh; O;; gksrk
gSA vFkkZr~ okLrfod ykxr fdlh oLrq ;k lsok dks çkIr djus ;k mRikfnr djus ds fy, fd;k
x;k okLrfod O;; gSA dPps eky dh ykxrs]a etnwjh vkSj C;kt dk Hkqxrku ;k=kk vkSj ;krk;kr]
e'khuksa dh ykxrsa vkfn bl ykxr ds vUrxZr vkrs gSaA ;s ykxrsa çk;% QeZ dh ys[kk iqLrdksa esa
ntZ gksrh gSA
nwljh vksj] volj ykxr og ykxr gksrh gS tks ,d dh ctk; nwljh oLrq dks ysus ds
volj fNu tkus ;k oSdfYid R;kx esa vFkok ,d ds LFkku ij nwljh lk/ku&lsok dk ç;ksx djus
esa vkrh gSA D;ksfa d L=kksr nqyHZ k gS( blfy, ,d lkFk lc oLrqvksa dk mRiknu djus ds fy, mudk
mi;ksx ugha fd;k tk ldrkA vr% ;fn ,d oLrq ds mRiknu esa mUgsa ç;ksx djuk gS] rks vU;
ç;ksxksa ls mudks gVk ysuk gksxkA bl çdkj ,d dh ykxr nwljh dh ykxr dk oSdfYid R;kx
gSA xsgaw mxkus ds fy, Hkwfe ds ç;ksx dh ykxr ml oSdfYid Qly dk ewY; gS tks ml ij yxkbZ
tk ldrh FkhA Je dh okLrfod ykxr og gS tks mls fdlh vU; jkstxkj esa fey ldrh FkhA
iwathifr ds fy, iwath dh ykxr og C;kt gS tks mls dgha vksj fey ldrk FkkA çca/kdÙkkZ dh
lkekU; dekbZ og gS tks m|ksxifr dks fdlh la;qDr LVkWd dEiuh ds çcU/kd ds :i esa fey
ldrh FkhA bl çdkj volj ykxr fNus gq, volj ;k oSdfYid R;kx dh ykxr gSA okLrfod
ykxr vkSj volj ykxr ds chp ds varj dks vk£Fkd yxku ;k vk£Fkd ykHk dgk tkrk gSA
volj ykxr dk egÙo (Importance of Opportunity Cost)—çca/kudh; fu.kZ;
fuekZ.k esa] çk;% fdlh oLrq dh okLrfod ykxr dh ugha] oju~ mldh volj ykxr ij fopkj
djus dh vko';drk eglwl djrh gS volj ykxr dh /kkj.kk dk çca/ku ds dbZ {ks=kksa esa fo'ks"k
egRo gS] tSls %
(i) fu.kZ;&fuekZ.k vkSj dq'ky lalk/ku vkcaVu (Decision-Making and Efficient
Resource Allocation) esa ykxr dh /kkj.kk mRiknd }kjk foosd'khy fu.kZ;&fuekZ.k ds fy,
vfr vko';d gSA ekuk fd fdlh mRiknd dks ;g fu.kZ; djuk gS fd mls vius fn, gq,
lalkèkuksa ls ';ke&'osr Vh0oh0 dk mRiknu djuk pkfg, ;k jaxhu Vh0oh0 dkµrks og nksuksa
çdkj dh Vh0oh0 ds mRiknu dh volj ykxrksa dks ekidj vkSj bu oLrqvksa dks pkyw cktkj
dherksa ds lkFk rqyuk djds gh foosd'khy fu.kZ; rd igqp a ldrk gSA blls lalk/kuksa dk dq'ky
vkcaVu Hkh laHko gksxkA fdlh Hkh lalk/ku dk mi;ksx lnSo mlh O;olk; esa gksxk tgka mls
mPpre volj ykxr çkIr gksxhA mnkgj.kkFkZ] ;fn dksbZ ch0,0 ikl O;fDr Ldwy esa 3,000 #0
çkIr dj jgk gS vkSj DydZ ds :i esa 5,000 #0 çkIr dj ldrk gS] rks og Ldwy NksM+dj DydZ
dh ukSdjh çkjaHk dj nsxkA
(ii) oLrqvksa dh lkisf{kd dherksa ds fu/kkZj.k esa (Determination of Relative Prices
of Goods)—;fn lk/kuksa dk ,d gh xzqi ;k rks ,d jaxhu Vh0oh0 ;k pkj ';ke&'osr Vh0oh0
mRikfnr dj ldrk gS rks ,d jaxhu Vh0oh0 dh dher dks ,d ';ke&'osr Vh0oh0 dh dher
ls de&ls&de pkSxq.kk dh dher ds cjkcj j[kk tk,xkA vr% volj ykxr dh /kkj.kk fofHkUu
oLrqvksa dh lkisf{kr dherksa ds fu/kkZj.k esa mi;ksxh gksrh gSA
(iii) fdlh lk/ku dk lkekU; ikfjJfed ds fu/kkZj.k esa (Determination of Normal
Remuneration to a Factor)—volj ykxr fdlh mRiknu lk/ku ds loZJs"B oSdfYid
mi;ksx ds fy, mldk ewY; fu/kkZfjr djrk gSA ekuk fd fdlh çca/kd dks çca/ku fo|ky; esa
O;k[;krk ds :i esa 10,000 #0 osru nsuk gksxkA
vr% Li"V gS fd çca/ku esa volj ykxr dh /kkj.kk dk fo'ks"k egÙo gSA
17. futh vksj lkekftd ykxrsa (Private and Social Costs)
futh ykxrsa ,d QeZ }kjk ,d oLrq ;k lsok ds mRiknu ij fd;k x;k [kpZ gSA buesa
lqfuf'pr vkSj var£ufgr nksuksa çdkj dh ykxrsa 'kkfey gksrh gSAa dqN ,slh Hkh vU; ykxrsa gS tks
QeZ ds dk;Zdj.k ds dkj.k mRiUu gksrh gS ysfdu lkekU;r% ;s u rks O;kolkf;d fu.kZ;ksa ds
vUrxZr vkrh gS vkSj u gh ,slh ykxrsa Qeks± }kjk Li"Vr;k pqdkbZ tkrh gSAa dqN ,slh ykxrsa lekt
}kjk pqdkbZ tkrh gS] vFkkZr~ ,d QeZ dh mRiknu fØ;k,a] nwljksa ds fy, vk£Fkd ykHk vFkok gkfu
yk ldrh gSaA mnkgj.kkFkZ] LVhy] jcM+ vkSj jlk;u tSls oLrqvksa dk mRiknu okrkoj.k dks
çnwf"kr djrk gS ftlls lkekftd ykxrsa gksrh gSA ;s ykxrsa QeZ ds dk;Zdj.k }kjk mRiUu lekt
ij xkS.k çHkko (side effect) gSA mnkgj.kkFkZ] ok;q] ty vkSj èofu çnw"k.k] ;krk;kr dk
HkhM+&HkkM+] tgjhyh xSlksa vkSj iVk[ks dh Qeks± esa vkdfLed nq?kZVuk vkfnA ;|fi çca/kdh;
fu.kZ;ksa esa lkekftd ykxrksa dh çklafxdrk ugha gS] fQj Hkh QeZ dk lkekftd mÙkjnkf;Ro gksrk
gSA nwljh vksj] f'k{kk] lQkbZ] ikdZ vkfn dh lsokvksa dk fuekZ.k lkekftd ykHk ykrk gSA
mnkgj.kkFkZ] f'k{kk dks gh yhft,] tks u fd dsoy çkIrdÙkkZvksa dks Åaph vk; vkSj vU; larfq "V;ka
çnku djrh gS cfYd lekt dks vf/kd çcq) (enlightened) 'kgjh Hkh çnku djrh gSA ;fn ge
mRiknu dks futh ykxrksa vkSj okrkoj.kh; çnw"k.k tSlh nwljksa ij gkfu;ksa dks bdëk tksM+ nsa rks
gesa lkekftd ykxrsa çkIr gksaxhA
3. ykxr Qyu
(The Cost Function)
ykxr Qyu dqy ykxr vkSj mls fu/kkZfjr djus okys rRoksa ds chp QyukRed laca/k dks
O;Dr djrk gSA çk;% os rRo tks ,d QeZ ds mRiknu dh dqy ykxr (TC) dks fu/kkZfjr djrs
gS] os gSa % mRiknu (Q), çkS|ksfxdh dk Lrj (T), lk/kuksa dh dherksa (Pf) vkSj fLFkj lk/ku (F) A
bl çdkj ykxr Qyu cu tkrk gS]
TC = f(Q, T, Pf, F)
,sls foLr‘r ykxr Qyu ds fy, cgq&vk;keh fp=kksa dh vko';drk iM+rh gS ftUgsa [khapuk
cgqr dfBu gSA
ykxr Qyu ds fo'ys"k.k dks ljy cukus ds
fy, dqN ekU;rk,a yh tkrh gSA ;g eku fy;k
tkrk gS QeZ dsoy ,d vdsyh le:i oLrq (q) dk
dqN mRiknu ds lk/kuksa dh lgk;rk ls mRiknu
djrh gSA vYidky esa QeZ dk mRiknu Lrj pkgs
dqN Hkh gks] buesa ls dqN lk/ku fLFkj ek=kkvksa esa
yxk, tkrs gSaA blfy, os fn, gq, eku fy, tkrs
gSA ckdh ds lk/ku ifjorZu'khy gS ftudh iw£r dk
Kku gS vkSj os fLFkj ek£dV dherksa ij miyC/k gSaA
vkxs] oLrq ds mRiknu ds fy, tks çkS|ksfxdh ç;ksx fp=k 1.
dh tkrh gS mldk Kku gksrk gS vkSj og fLFkj eku yh tkrh gSA vfUre] ;g eku fy;k tkrk
gS fd QeZ ifjorZu'khy lk/kuksa dks bl çdkj lek;ksftr (adjust) djrh gS fd oLrq q dk fn;k
gqvk mRiknu Q, U;wure ykxr C ij çkIr gksrk gSA bl çdkj dqy ykxr Qyu ,sls O;Dr fd;k
tkrk gS]
TC = f(Q)
ftldk eryc gS fd dqy ykxr (TC) mRiknu (Q) dk Qyu (f) gS] vU; lk/kuksa dh fLFkj
ekurs gq,A
ykxr Qyu dks fp=k esa ,d dqy ykxr (TC) oØ }kjk fn[kk;k tkrk gSA mRiknu dks
lekukarj v{k ij vkSj dqy ykxr dks vuqyac v{k ij ysdj TC oØ [khapk tkrk gS] tSlk fp=k
1 esa fn[kk;k x;k gSA ;g ,d fujarj oØ gS ftldh vkÑfr ;g n'kkZrh gS fd mRiknu ds c<+us
ds lkFk dqy ykxr Hkh c<+rh gSA dqy ykxr Qyu vkSj TC oØ nh gqbZ 'krks± ds vUrxZr] mRiknu
ds lkFk dqy ykxr dk laca/k crykrs gSA ijUrq ;fn nh gqbZ 'krks± esa ls dksbZ ,d tSls mRiknu
dh rduhd esa ifjorZu gksrk gS] rks ykxr Qyu cny tkrk gS mnkgj.kkFkZ] ;fn mRiknu dh
rduhd esa lqèkkj gksrk gS] rks ,d nh gqbZ mRiknu dh ek=kk ds fy, mRiknu dh ykxr igys ls
de gksxh tks u, ykxr oØ dks TC1 dks iqjkus oØ TC ds uhps ljdk nsxh] tSlk fp=k 1 esa fn[kk;k
x;k gSA nwljh vksj] ;fn lk/kuksa dh dherksa c<+ tkrh gS] rks mRiknu ykxr esa o‘f) gksxh] tks
ykxr oØ TC dh Åij dh vksj TC2 ij ljdk nsxh] tSlk fp=k 1 esa gSA
ykxr Qyu mRiknu Qyu ij fuHkZj djrk gSA vr% ykxr Qyu vYidky vkSj nh?kZdky
nksuksa esa ik;k tkrk gSA budh foLrkj ls ppkZ ge vkxs dj jgs gSA
ykxr fl)kUr 93
vè;k; 7
ykxr fl)kUr
THEORY OF COST
ykxr&mRiknu laca/k dh ijaijkxr vkSj vk/kqfud ykxrksa ds fl)karksa }kjk vYidkyhu

vkSj nh?kZdkyhu ykxr fo'ys"k.k ds vUrxZr O;k[;k dh tkrh gSA budk vkxs lfoLrkj vè;;u
djrs gSaA
ykxrksa dk ijaijkxr fl)kar (The Traditional Theory of Costs)
ykxrksa dk ijaijkxr fl)kar vYidky vkSj nh?kZdky esa ykxr oØksa ds O;ogkj dk
fo'ys"k.k djrk gS vkSj bl fu"d"kZ ij igqaprk gS fd vYidkyhu vkSj nh?kZdkyhu nksuksa oØ U
vkdkj ds gksrs gSa ijUrq nh?kZdkyhu oØ] vYidkyhu oØksa dh vis{kk piVs gksrs gSaA
5. QeZ ds vYidkyhu ykxr oØ

(Short Run Cost Curves of The Firm)
vYidkyhu og le; gksrk gS ftlesa QeZ viuh e'khuksa] midj.k vkSj mRiknu ds iSekus
dks ifjo£rr ugha dj ldrhA c<+rh gqbZ ekax dks iwjk djus ds fy,] QeZ vius mRiknu dks
vf/kd Je vkSj dPpk eky yxkdj ;k orZeku Je 'kfDr ls vf/kd le; dke djokdj gh
c<+k ldrh gSA ,slh vof/k esa mRiknu ds dqN lk/ku fLFkj vkSj dqN ifjorZu'khy gksus ds
dkj.k] QeZ dh dqy ykxrsa dqN fLFkj vkSj dqN ifjorZu'khy ykxrsa gksrh gSaA
dqy ykxrsa (Total Costs)
dqy ykxrsa ,d oLrq dh fuf'pr ek=kk dks mRikfnr djus esa ,d QeZ ds dqy [kps± gSaA
os dqy fLFkj ykxrksa (TVC) dk tksM+ gSaA çks0 lyokVksj (Salvatore) ds 'kCnksa esa] Þdqy ykxrsa
dqy fLFkj ykxrksa tek dqy ifjorZu'khy ykxrksa dk tksM+ gSaAß vFkkZr~ TC = TFC + TVCA
mlesa yxku] C;kt] etnwjh] dj] dPpk eky] fctyh] ikuh] foKkiu vkfn ds [kpZ 'kkfey gksrs
gSaA
¼d½ dqy fLFkj ykxrsa (Total Fixed Costs or TFC)—;s mRiknu dh os ykxrsa gSa tks
mRiknu ds lkFk ifjo£rr ugha gksrhA os mRiknu ds Lrj ls Lora=k gksrh gSaA¹ okLro esa]
QeZ dks ;s ykxrsa mBkuh gh iM+rh gS] ;fn QeZ FkksM+s le; ds fy, mRiknu can Hkh dj nsrh gSA
buesa Hkwfe vkSj fcfYMax fdjk, ij ysus] m/kkj yh xbZ eqæk ij C;kt] ba';ksjsal] lEifÙk dj] ewY;
âkl] LFkk;h LVkQ dh etnwjh vkSj osru] vkfn Hkqxrku 'kkfey gksrs gSaA bUgsa Åijh ykxrsa
(Overhead Costs) Hkh dgrs gSaA Mk0 ek'kZy (Marshall) bUgsa mRiknu dh iwjd ykxrsa
(Supplementary Costs) dgrs gSaA
¼[k½ dqy ifjorZu'khy ykxrsa (Total Variable Costs or TVC)—;s os ykxrsa gSa tks
mRiknu ds lkFk lh/ks rkSj ls cnyrh gSaA¹¹ os mRiknu ds c<+us ds lkFk c<+rh gS vkSj mRiknu
ds de gksus ds lkFk de gksrh gS rFkk mRiknu ds fcYdqy cUn gksus ij os lekIr gks tkrh gSA
muesa dPps eky] fctyh] ikuh] dj] vLFkk;h Je yxkuk] foKkiu vkfn ds [kps± 'kkfey gksrs gSAa
mUgsa çR;{k ykxrsa (Direct Costs) Hkh dgrs gSaA Mk0 ek'kZy bUgsa mRiknu dh çeq[k ykxrsa
(Prime Costs) dgrs gSA
rkfydk 1 vkSj fp=k 1 esa TFC, TVC vkSj TC ds laca/k dks n'kkZ;k x;k gSA TC tksM+ gS
TFC vkSj TVC dkA TFC dks mRiknu ds lHkh Lrjksa ij fLFkj 30 #0 fy;k x;k gSA tc
mRiknu 'kwU; gksrk gS rks TVC Hkh 'kwU; gS rFkk mRiknu ds c<+us ds lkFk&lkFk ;s c<+rh tkrh
gSA tc rd QeZ de ifjorZu'khy lk/ku ç;ksx djrh gS] TVC ?kVrh nj ls c<+rh gS] tSls
10 #0 ls 16 #0 ls 21 #0] ijUrq mRiknu dh pkSFkh bdkbZ ds ckn ?kVrs çfrQy ds fu;e ds
dkj.k os rhozxfr ds lkFk c<+rh gS] tSls 21 #0 ls 28 #0 ls 40 #0 vkfnA
bu rhuksa ykxrksa ls lacaf/kr ykxr oØksa
dks fp=k 1 esa fn[kk;k x;k gSA TFC oØ dks
mRiknu v{k ds lekukarj fn[kk;k x;k gS
D;ksafd dqy fLFkj ykxrsa çR;sd mRiknu Lrj
ij leku jgrh gS tSls 30 #0A TVC oØ
mYVk S-vkdkj dk gksrk gS vkSj ewY; 0 ls
vkjaHk gksrk gS] D;ksafd tc mRiknu 'kwU; gS rks
dqy ifjorZu'khy ykxrsa 'kwU; gksrh gSAa mRiknu
ds c<+us ds lkFk c<+rh gSA tc rd QeZ fLFkj
lk/kuksa ds vuqikr esa ifjorZu'khy lk/ku de
ç;ksx djrh gS] dqy ifjorZu'khy ykxrsa ?kVrh
fp=k 1.
nj ls c<+rh gSA
rkfydk 1 : dqy ykxrsa (Total Costs)
dqy mRiknu dqy fLFkj dqy ifjorZu'khy dqy ykxr
bdkb;ka ykxr ykxr (TC)
(TO) (TFC) (TVC) (4)
(1) (2) (3) (2 + 3)
0 30 0 30
1 30 10 40
2 30 16 40
3 30 21 51
4 30 28 58
5 30 40 70
6 30 54 84
7 30 75 105
ijUrq ,d fcUnq ds ckn fLFkj lk/kuksa ds vuqikr esa ifjorZu'khy lk/kuksa ds vf/kd ç;ksx
ls] os rhozrk ls c<+rh gSaA ,slk ifjorZu'khy vuqikrksa ds fu;e ds ykxw gksus ls gksrk gSA D;ksafd
TFC oØ lekukarj lh/kh js[kk gS] blhfy, TVC oØ ds lkFk TC oØ leku vuqyac varj ij
pyrk gSA TC ,d fujarj oØ gS tks ;g n'kkZrk gS fd mRiknu c<+us ds lkFk&lkFk dqy ykxrsa
c<+rh gSaA
vè;k; 8
mRiknu Qyu
COST OUTPUT RELATIONS
Derivation of cost function from production function

mRiknd Qyuµ
QyuµmRiknd Qyu mRiknu ds lk/kuksa rFkk mRiknu dh ek=kk ds HkkSfrd
laca/k dks crkrk gSA mRiknu dh ek=kk mRiknu ds lk/kuksa dh ek=kk ij fuHkZj djrh gSA tc
mRiknu ds lk/kuksa esa ifjorZu djrs gSa rks blds QyLo:i mRiknu dh ek=kk esa Hkh ifjorZu
gksrk gSA mRiknu Qyu gesa crkrk gS fd ;fn mRiknu ds lk/kuksa esa ifjorZu gksrk gS rks mlds
QyLo:i mRiknu dh ek=kk esa fdruk rFkk fdl çdkj ls ifjorZu gksxkA
According to Prof. Kautsyanis—ÞmRiknu Qyu ,d fo'kq) rduhdh lEcU/k gS tks
mRiknu ds lk/kuksa rFkk mRiknu dh ek=kk ds laca/k dks çdV djrk gSA tSls
Q = f(L, K, N, R, V, Y)
Q = mRiknu dh ek=kk] L = Je] K = iwath] N = Hkwfe] R = dPpk eky
V = iSekus ds çfrQy] Y = dk;Z dq'kyrkA
bl çdkj mRiknu dh ek=kk mRiknu ds lk/kuksa ij fuHkZj djrh gS ysfdu Hkwfe] dPpk
eky] iSekus ds çfrQy vkfn lHkh fLFkj lk/ku gSA blfy, ijEijkoknh vFkZ'kkL=k fl)kUr ds
vUrxZr mRiknd Qyu dks fuEu çdkj ls n'kkZ;k x;k gSA
Q = f(L, K) vr% mRiknu dh ek=kk Je o iwath dk Qyu gS D;ksafd ;s
ifjorZu'khy lk/ku gSA
Derivation of Cost function from Production function—fdlh Hkh oLrq ds mRiknu
ds fy, fofHkUu mRiknu ds lk/kuksa dk ç;ksx fd;k tkrk gS rFkk bu lk/kuksa dks muds ç;ksx
ds cnys esa iqjLdkj ;k ikfjJfed fn;k tkrk gS] ftudks mRiknu dh ykxrsa dgk tkrk gSA bl
çdkj mRiknu ykxrsa O;qRiUu gSa tks fd mRiknu Qyu esa fufgr rduhdh lEcU/kksa }kjk Kkr
dh tkrh gSA
fdlh Hkh ykxr dks Kkr djus ds fy, ge fuEufyf[kr ekU;rkvksa dks ysrs gSa %µ
(1) mRiknu Qyu fn;k gqvk gSA
(2) iSekus ds leku çfrQy ykxw gksrs gSA
(3) lk/kuksa dh ykxr nh gqbZ gSA tSls
W = Rs. 2 per hour
r = 2 Rs. per hour
,d QeZ ds ikl mRiknu dh fofHkUu rduhsdsa rFkk lk/ku gksrs gSa ysfdu ,d QeZ ogk¡
ij mRiknu djsxh ;k ml rduhd dk ç;ksx djsxh tgk¡ ij de ls de ykxr gksA
mRiknu Qyu 119
ek=kk P1 P2 P3 P4 P5
Labour 2 3 4 5 6
Capital 6 4.5 4.0 3.7 3.5
mijfyf[kr rkfydk esa mu L rFkk K dh ek=kkvksa dh n'kkZ;k x;k gS tks fdlh Hkh QeZ
dks ,d bdkbZ LFkfxr djus ds fy, pkfg,A pwafd ge tkurs gSa fd
W = 2 Rs. Per hour, r = 2 Rs. per hour.
rks ge ykxr dks lk/ku dherksa }kjk Kkr dj ldrs gSa tks fuEu rkfydk esa gS %&
ek=kk P1 P2 P3 P4 P5
Labour 4 6 8 10 12
Capital 12 9 8 7.4 7
Total Cost 16 15 16 17.4 19
bl rkfydk ls Li"V gS fd ,d QeZ U;wure ykxr okys la;ksx dks pqurh gS rkfydk esa
P2 U;wure ykxr la;ksx gS tks QeZ pqusxh vkSj gekjh ekU;rk ds vuqlkj iSekus ds leku
çfrQy ykxw gksrs gSaA vr% mRiknu ds çR;sd Lrj ij P2 la;ksx dk gh ç;ksx gksxkA T;ksa&T;ksa
mRiknu ek=kk c<+sxh] R;ksa&R;ksa ykxr Hkh c<+sxh ysfdu leku nj ls D;ksafd geus ekU;rk yh gS
fd iSekus ds leku çfrQy ykxw gksrs gSaA bl çdkj ge Kkr dj ldrs gS fd ,d fuf'pr
mRiknu ek=kk ij dqy fdruh ykxr vk,xhA
vc ge ,d rkfydk }kjk Kkr djsaxs fd mRiknu dh ,d fuf'pr ek=kk mRikfnr djus
ds fy, dqy ykxr D;k gksxhA
TC
1 15
2 30
3 45
4 60
. .
. .
. .
. .
fp=k 1.
bl çdkj de ls de ;k U;wure ykxr la;ksx dks çkIr fd;k x;k gSA js[kkfp=k (ii)
esa OQ dks feykus ls ,d foLrkj iFk vkrk gS vkSj foLrkj iFk ds fofHkUu fcUnqvksa (a, b, c, d,
e, f) dh lgk;rk ls dqy ykxr Kkr dh tk ldrh gS ftldks js[kkfp=k (i) esa fn[kk;k x;k gSA
js[kkfp=k (i) esa TC oØ ,d lh/kh js[kk gS o c<+rh gqbZ gS tks ;g n'kkZrh gS fd mRiknu dh ek=kk
ds lkFk&lkFk ykxrsa Hkh c<+rh gS ysfdu leku nj lsA blh çdkj js[kkfp=k (iii) ls Li"V gS
fd mRiknu c<+us ;k de gksus ij MC rFkk AC ij dksbZ çHkko ugha iM+rk] os leku jgrh gSA
vè;k; 9
ykHkµgkfu fo'ys"k.k
(BREAK—EVEN ANALYSIS)
1. vFkZ
(MEANING)
ykHk&gkfu fo'ys"k.k dqy ykxr vkSj dqy vkxe ds chp larqyu dh O;k[;k djrk gSA
blds vUrxZr QeZ dh fcØh dh ek=kk lacaf/kr mldh ykxr vkSj vkxe dk v/;;u fd;k tkrk
gSA ykHk&gkfu fcUnq QeZ dh fcØh dk og Lrj gS ftl ij dqy vkxe] dqy ykxr ds cjkcj
gksrk gS vkSj 'kq) vk; 'kwU; gksrh gSA ;g ,d fo'ys"k.kkRed rduhd gS ftldk ç;ksx foØ;
ek=kk ,oa mRiknu ds ml Lrj dh igpku djus ds fy, fd;k tkrk gS tgka QeZ ykHk&gkfu
(break-even) dh fLFkfr esa gksrh gS vFkkZr~ vkxe lHkh ykxrksa dks iwjk dj ldrk gSA ykHk&gkfu
fo'ys"k.k mRiknu dh fLFkj vkSj ifjorZu'khy ykxr] mRiknu dh ek=kk] mRiknu dh ewY;]
foØ; ewY; vkSj ykHk ds chp laca/k LFkkfir djrk gSA blhfy, bls ykxr&dher çktsDV
fo'ys"k.k Hkh dgrs gSaA
2. ykHkµgkfu fo'ys"k.k ds mís';
(OBJECTIVES OF BREAK—EVEN ANALYSIS)
ykHkµgkfu fo'ys"k.k dk mís'; dsoy ykHkµgkfu fcUnq fu/kkZfjr djuk gh ugha gS] cfYd
QeZ ds çpyuksa (operations) ds O;kogkfjd {ks=k (range) ds Hkhrj ykxr] dher vkSj ek=kk ds
chp laca/kksa dh tkudkjh fodflr djuk gSA ykHkµgkfu fo'ys"k.k dk ç;ksx fuEu mís';ksa dh
iwfRkZ ds fy, fd;k tkrk gS%
1. O;kogkfjd fn'kkfunsaZ'ku (Business Guidance)—çca/ku viuh IykaV {kerk dk
foLrkj ;k ldqapu ds fo"k; esa vk;ksatu djus ds fy, ykHkµgkfu fo'ys"k.k ij vk/kkfjr fu"d"kZ
dk ikyu djrk gSA xkMZuj ds vuqlkj ^ykHk µgkfu pkVZ QeZ ds O;kogkfjd fu;a=k.k esa
fn'kkµfunsaZ'ku esa fn'kkµfunsZ'ku ds fy, ,d Js"B midj.k Qyd (Panel) gS*A
2. ykHk vk;kstu (Profit Planing)—bl fo'ys"k.k dk mís'; QeZ dks vfTkZr gksus okys
ykHkµLrj ds fo"k; esa vk;kstu djus esa enn djuk gSA ykHk dk ;g iwokZuqeku Hkfo"; ds fy,
vkxe vkSj ykxrksa ds ç{ksi.kksa (Projections) ij vk/kkfjr gksrk gSA
3. lqj{kk dh lhek (Margin of Safety)—ykHkµgkfu fo'ys"k.k dk ç;ksx lqj{kk dh
lhek (safety margin) fu/kkZfjr djus ds mís'; ls Hkh fd;k tkrk gS tks ;g n'kkZrk gS fd QeZ
fcuk gkfu mBk, fcØh esa fdruh deh lgu dj ldrh gSA
4. oLrq vk;kstu (Product Planning)—ykHkµgkfu fo'ys"k.k dk mís'; QeZ dks mlds
vuqekfur vkxe vkSj ykxrksa ij vk/kkfjr oLrq ds vk;kstu esa enn djuk Hkh gSA ;g fdlh ubZ
oLrq J‘a[kyk (Product Line) dks tksM+us ;k pkyw oLrq J‘a[kyk dks gVkus ds çca/kdh; fu.kZ; esa
lgk;d gks ldrk gSA
ykHk&gkfu fo'ys"k.k 123
5. dher vkSj ykxr esa ifjorZu (Change in Price and Cost)—çca/kd ds lkeus çk;%
;g leL;k gksrh gS fd dher de dh tk, ;k ughaA ykHkµgkfu fo'ys"k.k dk ç;ksx QeZ ds
ykHkksa ij dher vkSj ykxr esa ifjorZuksa ds çHkkoksa ds fo'ys"k.k ds fy, Hkh fd;k tkrk gSA
6. mRiknu fu.kZ; (Production Decision)—ykHkµgkfu fo'ys"k.k dk ,d mís'; ;g
Hkh gS fd QeZ viuh fcØh ek=kk c<+kus ds fy, vusekfur ykHkµgkfu fcUnq ds vUnj oLrq ds fy,
lokZf/kd çksRlkgd rduhdksa ds laca/k esa mfpr fu.kZ; dj ldsA
7. forj.k laca/kh fu.kZ; (Distribution Decision)—YkkHkµgkfu fo'ys"k.k dk ç;ksx
forj.k laca/kh fu.kZ; çkIr djus ds fy, Hkh fd;k tkrk gSA QeZ blds vk/kkj ij loksaZre laHko
forj.k ç.kkyh ds laca/k esa fu.kZ; ys ldrh gS] tSls fdlh uxj ;k çns'k esa dbZ forjdksa ;k
vdsys forjd dk gksuk] ftlls mldh fcØh c<+sA
8. dher fu.kZ; (Price Decision)— QeZ ykHk dekus ds fy, ykHkµgkfu fo'ys"k.k }kjk
vius laHkkfor vkxe vkSj ykxrksa ds vk/kkj ij fu/kkZfjr gksus okyh foØ; dher ds lac/k esa
fu.kZ; ys ldrh gSA
9. y{; ykHk (Target Profit)—ykHkµgkfu fo'ys"k.k dk mís';] y{; ykHk rFkk fcØh
ek=kk fu/kkZfjr djuk Hkh gSA ;g QeZ dks mRiknu dh U;wure vkSlr ifjorZu'khy ykxrksa ls
ykHk ds fy, y{; fcØh ek=kk fu/kkZfjr djus esa lgk;rk djrk gSA
10. ykHkka'k fu.kZ; (Dibidend Decision)—QeZ tc ykHkµgkfu fcUnq ds i'pkr~ esa ykHk
dekuk çkjaHk djrh gS rc gh og vius 'ks;j/kkjdksa dks Hkqxrku fd, tkus okys ykHkka'k dh ek=kk
ds ckjs esa fu.kZ; ysrh gSA bl çdkj] QeZ vius 'ks;j /kkjdksa ds ykHkka'k ds Hkqxrku ls lacaf/kr
fu.kZ; ykHkµgkfu fcUnq ds vk/kkj ij gh djrh gSA
11. mRiknu {kerk laca/kh fu.kZ; (Production Capacity Decision)—ykHkµgkfu
fo'ys"k.k dk mís'; ;g fu/kkZfjr djuk Hkh gS fd vfrfjDr midj.k yxkdj mRiknu {kerk dk
foLrkj fd;k tk, ;k ughaA blds fy, ;g fo'ys"k.k vfr mi;ksxh gSA
3. ykHkµgkfu fo'ys"k.k
(BREAK—EVEN ANALYSIS)
vFkZ (Meaning)
ykHkµgkfu fo'ys"k.k mRiknu dh ek=kk ls lacf/kr mRiknu ykxr vkSj vkxe ds chp
laca/k n'kkZrk gSA ;g lacaèk ykHkµgkfu fcUnq }kjk fu/kkZfjr gksrk gSA vFkkZr~ ykHkµgkfu fcUnq
(BEP) mRiknu dk ,d fo'ks"k Lrj ;k fcØh dh ,d fo'ks"k ek=kk gS tgka QeZ dh dqy vkxe
vkSj dqy ykxr cjkcj gksrs gSaA ;g 'kwU; ykHk dk fcUnq gSA bl fcUnq dks uµykHk] u gkfu ;k
ykHkµgkfu dk fcUnq Hkh dgrs gSaA bl fcUnq ls uhps dh fcØh gkfu n'kkZrh gS vkSj bl fcUnq ls
Åij dh fcØh QeZ ds ykHk dks n'kkZrh gSA
bldh ekU;rk,a (Its Assumptions)
YkkHkµgkfu fo'ys"k.k fuEu ekU;rkvksa ij vk/kkfjr gS %
(1) ykxr Qyu vkSj vkxe Qyu js[kh; gksrs gSaA
(2) dqy ykxr] fLFkj vkSj ifjorZu'khy ykxrksa esa foHkkftr gksrh gSA
(3) fLFkj ykxr fLFkj gksrh gSA
(4) ifjorZu'khy ykxr mRiknu ds lkFk vkusikfrd :i ls ifjofrZr gksrh gSA
(5) oLrq dh mRikfnr vkSj fcØh dh xbZ bdkb;ksa dh la[;k le:i gksrh gSA bldk vFkZ
gS fd çkjafHkd LVkWd (opening stock) vkSj vafre LVkWd (clsing stock) ugha gksrk ,oa ekyµlwph
(inventory) esa dksbZ tksM+ ;k ?kVko ugha gksrk gSA
(6) foØ; dher fLFkj gksrh gSA
(7) lk/ku dhersa fLFkj gksrh gSA
(8) ykxr dsoy mRikfnr dh xbZ ek=kk ls çHkkfor gksrh gSA
(9) vkxe mRiknu dh HkkSfrd ek=kk ds lkFk iw.kZ :i ls ifjorZuh; gksrk gSA
(10) rduhd vkSj mRikndrk esa dksbZ ifjorZu ugha gksrk gSA
(11) dsoy ,d oLrq gksrh gSA fofo/k oLrqvkssa dh fLFkfr esa oLrqµfeJ (product—mix)
fLFkj gksrk gSA
ykHkµgkfu fcUnq dk fu/kkZj.k (Determnation of Break—Even point)
1. vkjs[kh; fof/k ;k ykHk&gkfu pkVZ
(The Graphical Method or Break—Even Chart—BEC)
ykHkµgkfu fo'ys"k.k lkekU;r% ykHkµgkfu pkVZ }kjk gh çLrqr fd;k tkrk gSA ykHkµgkfu
pkVZ vkjs[kh; :i ls mRiknu dh ek=kk ls laca/k vFkkZr~ ykHkµmRiknu laca/k dks çdV djrk
gSA
fp=k 1.
fp=k 1 ykHkµgkfu pkVZ gS tgka {kSfrt v{k ij mRiknu ds Lrj vkSj vuqyac v{k ij
vkxe ,oa ykxr dks n'kkZ;k x;k gSA fp=k esa dqy vkxe oØ (TR) vkxs uhps dh vksj mUurksnj
(concave) vFkkZr~ foyksfer (inverted) U— vkdkj dk gS tks ;g n'kkZrk gS fd QeZ oLrq dh
vfjfjDr bdkb;ksa dks dsoy çfrQy ds fu;e dk ifj.kke gSA TR vkSj TC oØ´dk feyu fcUnq
B ij gksrk gS vkSj C ykHkµgkfu fcUnq gSaA vFkkZr~ ;g mIrknuµLrj OQ vkSj OQ2 Lrj ij
uµykHk vkSj uµgkfu dk fcUnq gSA fp=k 1 esa mRiknu ds fdlh fo'ks"k Lrj ij TR vkSj TC
ds chp dh vuqyac nwjh QeZ dh ykHk ;k gkfu dks n'kkZrh gSA OQ ls OQ2 ls vf/kd mRiknu
gksus ij QeZ dks gkfu gksxhA tcfd ykHkµgkfu fcUnq B vkSj C ds chp vFkkZr~ OQ vkSj OQ2
ds chp mRiknu gksus ij QeZ dks ykHk gksxkA bu fcUnqvksa ds chp TC vkSj TC dh nwjh tgka
lcls vf/kd gksxh] ogka QeZ dks lokZf/kd ykHk gksxkA OQ1 fp=k esa mRiknuµLrj PT ij
lokZfèkd ykHk gks jgk gSA
O;ogkj esa dher&fu/kkZj.k dh fof/k;k¡ 131
vè;k; 10
O;ogkj esa dher&fu/kkZj.k dh fof/k;k¡
(METHODS OF PRICE DETERMINATION IN
PRACTICE)
1. çLrkouk
(Introduction)
dher&fu/kkZj.k O;kolkf;d Qeks± dh lokZf/kd egRoiw.kZ leL;k gSA bUgsa vkxe (revenue)
çkIr djus ds fy, mRikfnr oLrqvksa vkSj lsokvksa dh dhersa fu/kkZfjr djuh iM+rh gSaA pwafd
dher dk çHkko oLrq dh ekax] iw£r] fcØh vkSj QeZ ds ykHk ij çR;{k :i ls iM+rk gS] blfy,
QeZ }kjk oLrq dh dher fu/kkZfjr djus ds fy, ,slh fu;ksftr uhfr viukbZ tkuh pkfg,
ftlls oLrq dh fcØh vkSj vkxe laca/kh mldk y{; iwjk gks ldsA fdlh oLrq dh de ;k
vfèkd dher dk fuèkkZj.k dbZ ?kVdksa ,oa 'krks± ij fuHkZj djrk gS ftudh ppkZ ge ;gk¡ dj jgs
gSaA
2. dher fu/kkZj.k uhfr;ksa dks çHkkfor djus okys ?kVd
(Factors Affecting Pricing Policies)
dher fu/kkZj.k uhfr;ksa dks çHkkfor djus okys ?kVd fuEu gSa %
1. oLrq dh ykxr (Cost of the Product)—fdlh oLrq dh ykxr] mldh dher
fuèkkZj.k uhfr dks vR;f/kd çHkkfor djrh gSA lkekU;r% oLrq dh ykxr dher ds fuEure Lrj
dks fu/kkZfjr djrh gSA dksbZ Hkh O;olk;h viuh ykxr ls de dj oLrq dk foØ; ugha djrkA
;fn O;olk;h lefoPNsn fcUnq (Break-Even Point), tgka dqy ykxr ,oa dqy çkIr foØ;
dher ds cjkcj gksrs gSa] ls de dher olwy djrk gS rks mls gkfu gksxhA
2. oLrq dh ekax (Demand for the Product)—oLrq dh ekax dher fu/kkZfj.k uhfr dks
çHkkfor djus okyk egÙoiw.kZ ?kVd gSA oLrq dh ekax mldh dher dh vf/kdre lhek dks
fuf'pr djrh gSA fdlh QeZ dh dher fuèkkZj.k uhfr oLrq dh ekax dh yksp ij fuHkZj djrh
gSA ;fn mRiknd dh oLrq dh ekax csyksp gS rks oLrq dk ewy; vf/kd&ls& vf/kd j[kdj
vfèkdre ykHk dek;k tk ldrk gSA nwljh vksj] ;fn ekax yksp'khy gS rks dher esa o‘f) djus
dh ctk; dher esa deh djus dh uhfr QeZ ds fy, ykHkçn gksxhA ijUrq] lHkh fLFkfr;ksa esa
oLrq dh ekax dher&yksp ugha gksxhA fo'ks"kdj] fVdkÅ oLrqvksa tSls] dkj] Vh0oh0] fÝt vkfn
dh ekax vk; yksp gksrh gSA blfy, tc miHkksDrk dh vk; c<+rh gS rks ,slh QeZ viuh oLrqvksa
dh dhersa Åaph dj ldrh gSA
3. miHkksDrkvksa dk O;ogkj (Behaviour of Consumers)—çca/ku dher fu/kkZfjr
djrs le; miHkksDrkvksa ds O;ogkj dks Hkh è;ku esa j[krk gSA ,d miHkksDrk ls nwljs miHkksDrk
ds chp dher esa ifjorZu ds çfr mudh laosnu'khyrk esa vUrj gksrk gSA çR;sd fLFkfr esa ekax
dk fu;e ykxw ugha gksxkA foKkiu ,oa fcØh çksRlkgu ç;klksa ls miHkksDrk dk vf/keku cnyk
tk ldrk gS vkSj ekax ,oa dher dks c<+k;k tk ldrk gSA
4. çfr;ksfxrk (Competition)—fdlh oLrq dh dher fu/kkZfjr djrs le; çca/ku dks

mldh gksus okyh çfr;ksfxrk ij vo'; fopkj djuk pkfg,A dher uhfr dh çÑfr cktkj esa
pkyw çfr;ksfxrk dh dksfV (degree) ij fuHkZj djrh gSA iw.kZ çfr;ksfxrk dh fLFkfr esa dher]
m|ksx }kjk fu/kkZfjr gksrh gSaA QeZ viuh dher ugha fu/kkZfjr djrh gSA viw.kZ çfr;ksfxrk dh
n'kk esa QeZ viuh dher uhfr fu/kkZfjr djrh gSA ;fn oLrq dh çfr;ksfxrk de gS rks dher
vfèkd j[kh tk ldrh gS vkSj foykse'k%A
5. mRiknd ds mís'; (Objectives of the Producer)—dher uhfr QeZ ds lHkh
mís';ksa dks çkIr djus d ,d lk/ku gksrh gSA QeZ ds ;s mís'; gks ldrs gSa % cktkj 'ks;j
esa o‘f)] vf/kdre ykHk] dher fLFkjrk] fcØh vFkok fuos'k ij fuf'pr çfr'ky ykHk] çfr;ksfxrk
de djuk vkfnA QeZ dk tSlk mís'; gksxk] mldh dher&fu/kkZj.k uhfr bl mís'; ds
vuqlkj gh gksxhA
6. oLrq dh fo'ks"krk,a (Characteristics of the Product)—fopkj/khu oLrq dh fo'ks"krk,a
Hkh mldh dher&fuèkkZj.k uhfr dks çHkkfor djrh gSaA mnkgj.kkFkZ] ;fn oLrq ubZ gks rks çkjaHk
esa mldh dher de gkuh pkfg, fQj ckne sa mldh dher c<+kbZ tkuh pkfg,A ;fn oLrq
uk'koku gks rks mldh dher bl rjg fu/kkZfjr dh tkuh pkfg, ftlls mldh fcØh 'kh?kz gks
tk,A blh rjg LFkkukiUu oLrqvksa dh dhersa de j[kuh tkuh pkfg,A
7. forj.k ekxZ (Distribution Channel)—oLrq ds forj.k ekxZ dh çÑfr dk Hkh çHkko
dher&fu/kkZj.k uhfr ij iM+rk gSA ;fn forj.k ekxZ NksVk gS rks oLrq dh dher de j[kh tk
ldrh gS vkSj ;fn forj.k ekxZ yack gS vFkkZr~ mRiknd vkSj miHkksDrk ds chp dbZ eè;LFk gS
rks mu lHkh eè;LFkksa dks mfpr ykHk nsrs gq, dher vf/kd j[kuh gksxhA
8. Øsrkvksa dh çÑfr (Nature of the Buyers)—;fn Øsrk mRiknd gS rks oLrq dh
çfr;ksxh dher j[kuh iM+sxh D;ksafd mls cktkj dk iw.kZ Kku gksrk gSA nwljh vksj] ;fn Øsrk
miHkksDrk gS rks oLrq dh dher vf/kd j[kh tk ldrh gS D;ksafd mls çk;% cktkj dk iw.kZ Kku
ugha gksrk gSA blh çdkj Fkksd Øsrk ls de dher vkSj [kqnjk Øsrk ls vfèkd dher yh tk
ldrh gSA
9. O;kolkf;d çFkk (Business Customers)—dher fu/kkZj.k djrs le; ml O;olk;
dh çFkkvksa ij vo'; fopkj fd;k tkuk pkfg,A mnkgj.kkFkZ] osrueku esa fVdkÅ oLrq m|ksxksa
esa xkjaVh nsus dh çFkk çpfyr gSA vr% ,sls m|ksx ds vUrxZr dher fu/kkZfjr djrs le;
fopkjkèkhu oLrq dh dher esa lsok ewy; Hkh tksM+ ysuk pkfg,A
10. ljdkjh uhfr (Government Policy)—QeZ dh dher&fu/kkZj.k uhfr ljdkjh
uhfr;ksa }kjk Hkh çHkkfor gksrh gSA ljdkj tufgr esa dher fu;a=k.k dh uhfr viukdj
O;olkf;;ksa dh ,dkf/kdkj 'kfDr vkSj muds chp lkaB&xkaB dh cqjkb;ksa dks jksdrh gSA Hkkjr
esa ljdkj oLrq dh c<+rh dherksa ls mldh iw£r ij vko';d oLrq vf/kfu;e] vkS|ksfxd fodkl
,oa fu;eu vf/kfu;e] Hkkjr lqj{kk fu;e vkfn ds ekè;e ls fu;a=k.k djrh gSA
3. dher fu/kkZj.k uhfr ds mís';
(Objectives of Pricing Policy)
lk/kkj.kr% QeZ dk laiw.kZ mís'; gh dher fu/kkZj.k uhfr dks funsZf'kr djrk gSA dher
fuèkkZfjr djrs le; QeZ ds fuEu mís'; gks ldrs gSa %
1. ykHk vf/kdrehdj.k (Profit Maximisation)—laiw.kZ oLrq&J‘a[kyk ds ykHkksa dks
vfèkdre djuk QeZ dk çeq[k mís'; gksrk gSA og vius fuos'k ij y{; çfrQy igys Hkh
fuf'pr dj ysrh gSA
2. dher fLFkjrk (Price Stability)—fdlh le;kof/k ds nkSjku viuh oLrqvksa dh

dherksa dks fdlh fo'ks"k Lrj rd fLFkj j[kuk QeZ dk ,d çeq[k mís'; gksrk gS
3. çfr;ksfxrk jksdu (Preventing Competition)—dher uhfr fu/kkZj.k ds le;
çcaèku dk ,d mís'; ;g Hkh gksrk gS fd cktkj esa viuk 'ks;j c<+kdj cktkj&usr‘Ro çkIr fd;k
tk,A vYikf/kdkj dh fLFkfr esa ;g ,d lkekU; ckr gSA
4. çfr;ksfxrk jksdu (Preventing Competition)—çca/ku dk ,d mís'; oLrq&J‘a[kyk
dks çfr;ksfxrk ls cpuk Hkh gSA og m|ksx esa ubZ Qeks± ds ços'k dks grksRlkfgr djuk pkgrk
gSA bl uhfr ds vUrxZr og de&ls&de dher j[kus dk ç;kl djrk gSA
5. cktkj&foLrkj (Market Expansion)—çca/ku dk mís'; u;s cktkjksa esa ços'k djuk
Hkh gksrk gSA blds fy, og viuh oLrqvksa dh lkisf{kd :i ls de dher j[krk gSA
6. 'kh?kz iquZykHk (Early Expansion)—dbZ Qes± bl mís'; ls Hkh viuh dhersa fu/kkZfjr
djrh gSa fd mUgsa vius fuos'k ij 'kh?kz&ls&'kh?kz udnh olwyh gks tk, D;ksafd Hkfo"; vfuf'pr
gSA
7. fu;fer vk; (Regular Income)—fu;fer vk; v£tr djuk Hkh QeZ dk ,d
mís'; gksrk gSA blfy, og blh mís'; ds vuqlkj viuh dher fu/kkZfjr djrh gSA
8. oLrq&Ja‘[kyk çksRlkgu (Product Line Promotion)—QeZ dbZ fLFkfr;ksa esa viuh
oLrq&J‘a[kyk çksRlkgu ds fy, Hkh dher fu/kkZfjr djrh gSA og viuh yksdfç; oLrq dh
dher de j[krh gS ysfdu mlds lkFk oLrq&J‘a[kyk dh dksbZ de yksdfç; oLrq Hkh [kjhnuh
iM+rh gS ftlls QeZ dh og de yksdfç; oLrq Hkh cktkj esa vk tkrh gSA
9. lekt lsok (Social Service)—ewY; fu/kkZfjr djrs le; QeZ dk mís'; lekt&dY;k.k
Hkh gks ldrk gS ftlds vUrxZr og viuh oLrqvksa dks ykxr&ewY;ksa ij gh csp nsrh gSA
4. dher fu/kkZj.k dh fof/k;ka

(Pricing Methods)
dher fu/kkZj.k dh fuEu fof/k;ka çeq[k gSa %
1. ykxr&tek ;k iw.kZ ykxr dher&fu/kkZj.k (Cost-plus or Full-cost Pricing)
dher&fu/kkZj.k dh lokZf/kd çpfyr fof/k ykxr tek fof/k gSA iw.kZ ykxr tek fof/k
gSA iw.kZ ykxr] iw.kZ vkSlr ykxr gSA ftlesa vkSlr çR;{k ¼ifjorZu'khy½ ykxrsa (AVC) tek
vkSlr Åijh ykxrsa (AFC) tek vkSj ykHk ds fy, lkekU; jkf'k (normal margin)A bl
çdkj] dher] P = AVC + AFC + Profit margin ¼lkekU;% 10%½A gky vkSj fgp (1939) ds
vuqlkj Qeks± dks iw.kZ ykxr dher fu/kkZj.k uhfr dk vuqlj.k djus ds fy, çsfjr djus ds dqN
dkj.k gSa % (i) mRikndksa esa ekSu vFkok [kqyk diViw.kZ le>kSrk( (ii) miHkksDrk dks çkFkferek,a
tkuus esa vlQyrk( (iii) dher esa ifjorZu esa çfr;ksfx;ksa dh çfrfØ;k( (iv) fu"i{kek dk uSfrd
n‘<+fo'okl( vkSj (v) ewY;ksa ds ?kVus vFkok c<+us ds çHkkoksa dh vfuf'prrkA ;s lHkh dkj.k
vYikf/kdkj okys mrikndksa dks iw.kZ ykxr dher ds vykok vU; dher dk fu/kkZj.k djus ls
jksdrs gSaA
ykxr&tek fof/k dks fp=k 1 dh lgk;rk ls

le>k;k gS fp=k esa vkSlr fLFkj ykxr (AFC) = OP
vkSlr ifjorZu'khy ykxr (AVC) = PP1 vkSj AC
dqy vkSlr ykxr oØ gSA QeZ }kjk OQ1 mRiknu
djus ij mRiknu djus ij vkSlr fLFkj ykxr OP
vkSlr ifjorZu'khy ykxr PP1 vkSj ykHk jkf'k P1P2
gSA bl çdkj] OQ1 mRiknu&ek=kk ds fy, dqy
vkSlr ykxr OP1 esa ykHk jkf'k P1P2 dks tksM+dj OP2
dher ij dsoy OQ ek=kk gh fcdrh gS rks ykHk dh
çkfIr ugha gksxh dsoy vkSlr ykxr gh iwjh gksxhA
;fn fcØh OQ ls de gksrh gS rks QeZ dks gkfu gksxhA fp=k 1.
bl çdkj] QeZ iw.kZ ykxr fu;e ds vk/kkj ij viuh dher fuf'pr djrh gS vkSj ek£dV
ftruh ekax djrh gS] ml dher ij csprh gSA gky vkSj fgp us ;g ns[kk fd ckotwn ekax vkSj
ykxrksa esa ifjorZuksa ds vYikf/kdkj ek£dV eas dhersa fLFkj gksrh gSaA mUgksaus dherksa dh fLFkjrk
dks fodflr ekax oØ ds ç;ksx }kjk le>k;kA
ijUrq mRiknu dk Lrj dSls fu/kkZfjr gksrk gS \ ;g fuEu rhu esa ls fdlh Hkh ,d <ax
ls fu/kkZfjr gksrk gS %
¼d½ {kerk mRiknu dh çfr'krrk ds :i esa] vFkok
¼[k½ fiNyh mRiknu vof/k esa csps x, mRiknu ds :i esa( vFkok
¼x½ U;wure ;k vkSlr mRiknu ds :i esa tks Hkfo"; esa QeZ cspus dh laHkkouk j[krh gSA
;fn QeZ u;h gS vFkok ,d orZeku QeZ gS tks ,d ubZ oLrq dks çkjaHk djrh gS] rks bu
rhuksa esa ls igyh vkSj rhljh O;k[;k laxr gksxhA ,sls gkykr esa ;g laHko gS fd igyh yxHkx
IykaV dh {kerk laHkkfor Hkfo"; dh fcfØ;ksa ij fuHkZj djsxhA
iw.kZ ykxr dher fu/kkZj.k dh çks0 ,aMª;wt
}kjk O;k[;k fp=k 2 esa n'kkZ;h xbZ gS tgka AC
vkSlr çR;{k vFkok ifjorZu'khy ykxr oØ gS
tks mRiknu ds ,d foLr‘r jsat esa lekukarj
lhèkh js[kk gSA MC blds vuq:i lhekar ykxr
oØ gSA eku yhft, QeZ mRiknu dk OQ Lrj
pqurh gSA mRiknu ds bl Lrj ij] QC QeZ dh
iw.kZ ykxr gS tks QV vkSlr çR;{k ykxr tek
ykxr&fuèkkZj.k lhek (costing margin) VC ls
cuh gS A blfy, QeZ dh fcØh dher
OP = QCA QeZ ;gh dher OP ysrh jgsxh]
ysfdu og viuh oLrq dh ekax ij fuHkZj djrs fp=k 2.
gq, vfèkd csp ldrh gS] tSlk fd DD ekax oØ }kjk fn[kk;k x;k gSA ,slh fLFkfr esa] og OQ1
oLrq dh ek=kk cspsxhA ;g dher ekax esa ifjorZu ds dkj.k cnyh ugha tk,xh] cfYd dsoy
çR;{k vkSj vçR;{k lk/kuksa esa ifjorZuksa ds dj.k ifjo£rr dh tk,xhA
xq.k (Merits)
bl fof/k ds fuEu xq.k gSa %
1. ;g fof/k ljy vkSj lgt gSA
2. ;g fof/k fu.kZ;&fuekZ.k dh ykxr dks de djrh gSA

3. miHkksDrk ds n‘f"Vdks.k ls bl fof/k }kjk dher&fu/kkZj.k U;k;laxr gSA
4. ;gka dher usr‘Ro QeZ ds ikl gh gksrk gSA
5. pwafd QeZ ds lkeus fopkjk/khu oLrq dh ekax n'kk vfuf'pr gksrh gS] blfy, Hkh ykxr
tek dher&fu/kkZj.k vf/kd mi;qDr gSA
6. ;g fof/k QeZ ds ykHk vf/kdrehdj.k mís'; dks iwjk djrh gSA
nks"k (Demerits)
eSDyi] jkfcUlu] dkgu rFkk vU; vFkZ'kkfL=k;ksa us iw.kZ ykxr dher fu/kkZj.k fof/k dh
fuEufyf[kr vk/kkj ij dM+h vkykspuk,a dh gS %
1. ekax i{k dk mis{kk (Ignores Demand-side)—;g fof/k dher&fu/kkZfjr djrs le;
cktkj ekax dh vis{kk djrh gS] tcfd oLrq dh ykxr vkSj ml oLrq ds fy, miHkksDrk fdruk
Hkqxrku djsxk] blesa dksbZ vko';d laca/k ugha gSA
2. Qes± fLFkj dherksa dk vuqlj.k ugha djrh (Firms do not Follow Rigid Prices)—
iw.kZ ykxr dher&fuèkkZj.k fof/k dh fLFkj dher ls tqM+s jgus ds dkj.k vkykspuk dh xbZ gSA
Qes± çk;% eUnh ds nkSjku viuh LVkWd dks cspus ds fy, dherksa esa deh dj nsrh gS vkSj rsth
ds fnuksa esa ykxr c<+us ij os dherksa esa o‘f) dj nsrh gSA vr% Qes± çk;% fLFkj dher uhfr
dh vis{kk LorU=k ewY; uhfr dk vuqlj.k djrh gSA
3. ykHk lhek vLi"V /kkj.kk (Profit Margin Value Concept)—bl fof/k esa ;g Li"V
ugha gS fd ^ykxr&fuèkkZj.k lhek* dk fu/kkZj.k dSls gksrk gS rFkk QeZ }kjk bldk iw.kZ ykxr esa
dSls nke yxk;k tkrk gS \ QeZ viuh oLrq dh ykxr vkSj ekax ij fuHkZj djrs gq, mfpr ykHk
lhek ds :i esa de ;k vf/kd nke ys ldrh gSA
4. detksj vkuqHkfod vk/kkj (Weak Empirical Basis)—iw.kZ ykxr fl)kar dk
ç;ksxfl) vk/kkj ij nks dkj.kksa ls detksj gSa % (i) og 30 Qes± ftUgksaus bl fl)kUr dks
viuk;k Fkk] muesa ls dsoy 12 us bl fl)kUr dk dM+kbZ ls ikyu fd;kA (ii) vf/kdrj Qes±
yksp ds vkSfpR; ds ckjs esa bruh Li"V ugha Fkh vkSj cgqr&lh Qeks± us ekax dh yksp'khyrk dk
vuqeku yxkus ds fy, dksbZ ç;kl ugha fd;kA
5. iw.kZ ykxr dher fu/kkZj.k fu;e dM+kbZ ls ugha viuk;k tkrk (Full Cost
Principle not Strictly Followed)—blds vykok baXySaM vkSj vesfjdk esa m|ksxksa dh dher
fu/kkZj.k çfØ;k ds ç;ksxfl) vè;;uksa ls irk pyrk gS fd dherksa dk vuqeku yxkus dh fofèk
Qeks± }kjk vkSlr ykxr Js.kh ds vuqekuksa ls 'kq: gksrh gSA ijUrq Qeks± }kjk vuqlj.k dh tkuh
okyh lgh fof/k;ka iw.kZ ykxr ds fl)kar dks dM+kbZ ls ugha viukrhA
6. uk'koku oLrq ij ykxw ugha (Not Applicable to Perishable Goods)—bl fofèk
dk ç;ksx uk'koku oLrqvksa ds dher&fu/kkZj.k ds lanHkZ esa ugha fd;k tk ldrkA
7. Qes± lhekar fu;e dks viukrh gSa (Firms follow Marginal Principle)—b;jys
(Earley) us Qeks± esa iw.kZ ykxr fl)kar ds çfr O;kid vfo'okl ns[kkA mlus crk;k fd Qeks±
us lhekar&ys[kkadu vkSj ykxr&lEcU/kh fl)kar dk vuqlj.k fd;k gS vkSj buesa ls vf/kdka'k
Qeks± us dher&fu/kkZj.k] foi.ku vkSj u;h oLrq dh uhfr viukbZ mlus bl Qeks± ds dher&fuèkkZj.k
lEcU/kh fl)kar dks ^mM+rk gqvk lhekarokn* dgk gSA
bu vkykspukvksa ds ckotwn iw.kZ ykxr dher fu/kkZj.k fl)kar okLrfod O;kolkf;d Qeks±
ds O;ogkj dk vè;;u djus ds fy, vFkZ'kkfL=k;ksa }kjk fd;k x;k ;g igyk ç;kl FkkA
2. çfrQy dh nj vFkok y{; dher fu/kkZj.k

(Rate of Return or Target Pricing)
;g fof/k ykxr&tek dher&fu/kkZj.k fof/k dk la'kksf/kr :i gSA blds vUrxZr (a)

dher dk fu/kkZj.k fuos'k ij ,d fuf'pr çfrQy dh nj ls cjkcj gksrk gS( vFkok (b) ykHk]
dqy fcØh dk ,d fuf'pr çfr'kr ds :i esa dk;e j[kdj fy;k tkrk gS( ;k (c) ykxrksa ds
Åij ,d fuf'pr çfr'kr dks dk;e j[krs gq, fd;k tkrk gSA
bl fof/k ds vUrxZr loZçFke dqy y{; ykHk dks Kkr fd;k tkrk gSA ftlds fy, fuEu
lw=k gS %
y{; ykHk = CR
tgka C = fuos'k dh xbZ iwath vkSj R = çfrQy dh y{; nj gSA
vc y{; ykHk ds fy, ykxr ij vfrfjDr jkf'k Kkr djus ds fy, dqy y{; ykHk dks
mRiknu ds ctVh; Lrj ls foHkkftr fd;k tkrk gSA lw=k ds vuqlkj]
CR
M=
Qb
tgka M = vfrfjDr jkf'k( Cb = mRiknu dk ctVh; Lrj vkSj CR = y{; ykHk gSA
vkykspuk,a (Criticism)—bl fof/k dh vkykspuk,a fuEu vk/kkj ij dh xbZ gSa %
1. bl fof/k }kjk dher&fu/kkZfjr djrs le; cktkj ekax dh mis{kk gksrh gSA
2. ;g fof/k çfr;ksxh 'kfDr;ksa ij i;kZIr :i ls fopkj ugha djrh gSA
3. ;g fof/k uk'koku oLrq m|ksxksa esa ykxw ugha gksrhA
4. Qes± eanh ds nkSjku dherksa esa deh vkSj rsth ds nkSjku dherksa esa o‘f) djrh gSaA bl
çdkj] os çk;% fLFkj dher uhfr dh vis{kk Lora=k dher uhfr dk vuqlj.k djrh gSaA
5. mfpr ykHk lhek ;k ykxr&fu/kkZj.k lhek] tSlk ,aMª;wt us Hkh dgk gS] vLi"V gSA
3. lhekUr ;k o‘f)xr ykxr&dher&fu/kkZj.k

(Marginal or Incremental Cost Pricing)
lhekUr vFkok o‘f)xr ykxr dher&fu/kkZj.k fof/k ykxr&tek dher&fu/kkZj.k fof/k dk

la'kksf/kr :i gSA ykxr&tek dher&fu/kkZj.k vkSj y{; dher&fu/kkZj.k vkSlr dqy ykxr ij
vk/kkfjr gS ,oa lhekar ykxr dher&fuèkkZj.k fof/k dk vk/kkj lhekUr ykxr gSA dbZ fLFkfr;ksa
esa QeZ dk mís'; ykHk vf/kdredj.k ugha] cfYd vf/kdre lekt dY;k.k gksrk gSA ,slh
fLFkfr esa vkSj tSlk fd ge iw.kZ çfr;ksfxrk dh fLFkfr esa Hkh fo'ys"k.k djrs gSa] cktkj 'kfDr;ksa
ds dkj.k dher lhekUr ykxr ds cjkcj gksrh gSA vFkkZr~ bl fof/k ds vUrxZr oLrq dh lhekUr
ykxr dks vk/kkj ekurs gq, blesa ykHk&jkf'k dks tksM+dj ml oLrq dh dher fu/kkZj.k dh tkrh
gSA
xq.k (Merits)
bl fof/k ds eq[; xq.k fuEu gSa %
1. ;g fof/k lokZf/kd U;k;laxr gS D;ksafd bldk mís'; vf/kdre lekt dY;k.k gSA
2. bl fof/k }kjk dher&fu/kkZj.k ls fcØh] ykHk vkSj mRiknu c<+rk gS ,oa mRiknu
lkèkuksa dh dhersa de gksrh gSA
3. ;g fof/k oLrq ds thou&pØ laca/kh dher&fu/kkZj.k ds fy, fo'ks"k mi;ksxh gSA

4. ;g fof/k ykxr&Lrjksa vkSj ykxr laca/kksa ls lacaf/kr Hkfo"; dh tkudkjh dks ;FkkFkZ
:i ls çLrqr djrh gSA
5. fo'ks"kdj fofo/k oLrq] fofo/k çfØ;k vkSj fofo/k cktkj okyh Qeks± dh n'kk esa ;g fofèk
vf/kd mi;qDr gSA ,slh fLFkfr;ksa esa ykxr&tek dher&fu/kkZj.k fcYdqy fujFkZd gS D;ksafd
fofHkUu oLrqvksa] çfØ;kvksa vkSj cktkjksa dk ykxrksa dk çHkko leku :i ls ugha gksrk gSA
nks"k (Demerits)
bu xq.kksa ds ckotwn lhekUr ykxr fu/kkZj.k fof/k ds fuEu nks"k gSa %
1. ;g fof/k vf/kd tfVy gSA dbZ fLFkfr;ksa esa ys[kkiky bl fof/k dk ç;ksx djus esa
l{ke ugha gksrs gSaA
2. bl fof/k dk ç;ksx dsoy vYidky esa vLFkk;h :i ls gks ldrk gSA blls
nh?kZdkyhu LFkk;h dher uhfr fu/kkZfjr ugha dh tk ldrhA
3. eanh dh fLFkfr esa Qeks± }kjk lhekUr ykxr dher&fu/kkZj.k fof/k viukus ls xyk&dkV
çfr;ksfxrk dh fLFkfr mRiUu gksxhA
4. pkyw&nj dher&fu/kkZj.k (Going Rate Pricing)
bl fof/k }kjk dher&fu/kkZj.k dk vk/kkj ykxr ugha] cfYd cktkj dh fLFkfr gksrk gSA
bls cktkj fu/kkZfjr ;k çfr;ksfxrk mRiUu djus okyh dher fu/kkZj.k uhfr Hkh dgrs gSaA bl
fofèk ds vUrxZr ;|fi QeZ viuh oLrq dh dher fu/kkZfjr dj ldrh gS ijUrq og ,slk ugha
djrh gSA og viuh dher uhfr dks m|ksx ;k cktkj esa pkyw lkekU; dher&fu/kkZj.k <kaps
ds vuqlkj lek;ksftr djrh gSA bl fof/k }kjk iw.kZr% çfr;ksxh m|ksx esa oLrq dh dher Qeks±
ij cktkj 'kfDr;ksa }kjk fu/kkZfjr gksrh gSA dher&fu/kkZj.k dh ;g fof/k iw.kZ çfr;ksfxrk ds
lkFk&lkFk vYikf/kdkj vkSj ,dkf/kdkjkRed çfr;ksfxrk esa Hkh ç;ksx dh tkrh gSA pkyw nj
dher&fu/kkZj.k fof/k dk ç;ksx ml le; fd;k tkrk gS tcµ(a) oLrq dh ykxrksa dk eki
djuk dfBu gks] ;k (b) QeZ cktkj esa dher çfr}fU}rk ls rax vk xbZ gks] ;k (c) cktkj esa
fdlh çHkko'kkyh QeZ dk dher&usr‘Ro gksA
xq.k (Merits)
bl fof/k ds fuEu xq.k gSa %
(1) ;g fof/k vfr ljy gS D;ksafd blesa çfr;ksxh oLrq dh tks dher gksrh gS] ogh dher
QeZ }kjk viuk yh tkrh gSA
(2) ;g fof/k dher&fu/kkZj.k dh lokZf/kd lqjf{kr fof/k gS] D;ksafd ;g vU; çfr;ksxh
Qeks± }kjk fl) gksrh gSA
(3) ;g fof/k vYikf/kdkjkRed cktkj dks dher çfr;ksfxrk ls cpkrh gSA
(4) ;g fof/k ykxrksa dks Bhd&Bhd x.kuk djus dh vis{kk de dfBu vkSj de [kphZyh
gSA
nks"k (Demertis)
bu xq.kksa ds ckotwn bl fof/k ds fuEu nks"k gSa %
(1) bl fof/k ds vUrxZr QeZ vius usrk dh iwjh tkudkjh ds fy, gh mldk vuqlj.k
djrh gSA
(2) blds vUrxZr dher dk çkFkfed fu/kkZjd u rks ykxr gS vkSj u gh ekaxA vr% ;g
,d tfVy fof/k gSA
(3) fo'ks"kdj mu m|ksxksa esa tgka Qez fHkUu&fHkUu oLrq, mRikfnr djrh gS] çca/ku dk
foosdkf/kdkj vuqfpr :i ls c<+ tkrk gSA
(4) bl fof/k }kjk dher&fu/kkZj.k dh lcls cM+h deh gS fd ;g QeZ }kjk ykHk
vfèkdrehdj.k dh dksbZ xkjaVh ugha nsrh gSA
(5) bl fof/k dks viukus ls m|ksx fLFkj gks tk,xk ,oa m|ksx esa ubZ Qes± vkd£"kr gksaxhA
5. foHksnh dher&fu/kkZj.k (Differential Pricing)
;g dher&fu/kkZj.k dh ,d egÙoiw.kZ fof/k gS] ;|fi ;g dbZ o"kks± ls fooknkLin jgh gSA
blds vUrxZr fofHkUu cktkjksa esa oLrq dh fofHkUu dhersa yk tkrh gSA ds0 ds0 lsvks ds vuqlkj]
Þbls ,d ,slh i)fr ds :i esa ifjHkkf"kr fd;k tk ldrk gS ftlesa ,d foØsrk }kjk leku
ykxr esa vUrj ij fopkj fd, fcuk leku oLrq ds fy, ,d gh Øsrk ls ;k fofHkUu Øsrkvksa ls
fofHkUu dhersa yh tkrh gSAß foHksnh dher&fu/kkZj.k dh dbZ fuEu 'krs± gS tks blds fy, vkèkkj
rS;kj djrh gSa %
1. le; foHksnd (Time Differentials)—fdlh oLrq dh ekax ij le; rRo dk çHkko
Hkh gksrk gSA oLrq dh ekax vYidkyhu vUrjksa ij Hkh ifjo£rr gks ldrh gSA vFkkZr~ dher&
fuèkkZj.k esa le; foHksnd bl rF; ij vk/kkfjr gS fd Øsrkvksa dh ekax yksp le; ds vUrj ij
ifjo£rr gksrh gSA le; foHksnd fuEu nks çdkj ds gksrs gSa %
(i) DykWd≤ foHksnd (Clock-Time Differentials)—tc Øsrkvksa dh ekax yksp ,d
fnu esa gh ifjo£rr gks tkrh gS rks ,d fnu ds Hkhrj le;ksa esa ,d gh oLrq ;k lsok dh
fHkUu&fHkUu dhersa yh tk ldrh gSA mnkgj.kkFkZ] yach nwjh ds VsfyQksu dkWy ij fnu vkSj
jkf=k njksa ds chp vUrjA
(ii) dSysUMj le; foHksnd (Calender Time Differentials)—blds vUrxZr dher
foHksnd ,d fnu ds Hkhrj yksp vUrjksa ij ugha] cfYd ,d fnu ls vf/kd le;ksa ds chp yksp
vUrjksa ij vk/kkfjr gksrk gS] tSls gksVy m|ksx esa lhtu ds nkSjku Åaph nj olwy dh tkrh gS
tcfd tkM+s esa ;s njsa ?kVk nh tkrh gSA
2. xq.koÙkk foHksnd (Quality Differentials)—oLrq dh xq.koÙkk ekax yksp egRoiw.kZ
fuèkkZjd gksrh gSA vr% foØsrk oLrq dh xq.koÙkk esa vUrj dj mldh dher esa vUrj dj
ldrk gSA
3. ek=kk foHksnd (Quantity Differentials)—blds vUrxZr foØsrk [kjhn dh ek=kk ds
vk/kkj ij dher esa Hksn dj ldrk gSA blds fuEu rhu eq[; :i gSa %
(i) lap;h cêk (Cumulative Discount)—lap;h cêk fdlh fo'ks"k Øsrk }kjk fdlh
fo'ks"k le; vof/k esa [kjhnh x;h dqy ek=kk ij vk/kkfjr gksrk gSA
(ii) ek=kk cêk (Functional Discount)—;g ,slh dher NwV gksrh gS tks fdlh ,d
le; esa [kjhnh xbZ vkSj fdlh ,d LFkku ij lqiqnZ dh xbZ ek=kk ds vk/kkj ij nh tkrh gSA ;g
ek=kk ftruh vf/kd gksxh] NwV Hkh mruh gh vfèkd gksxhA
(iii) dk;kZRed cêk (Functional Discount)—bls lkekU;r% forj.k cV~Vk Hkh dgk
tkrk gSA bl çdkj dh dher NwV] forjdksa dks oLrqvksa ds forj.k esa mudh fLFkfr ds vuqlkj
nh tkrh gSA vFkkZr~ ;g NwV mRikndksa }kjk Øsrkvksa ds O;kikj oxhZdj.k vFkkZr~ Fkksd foØsrk]
QqVdj ;k [kqnjk foØsrk vkfn ds vuqlkj nh tkrh gSA
4. oLrq ç;ksx foHksnd (Product Use Differential)—;g dher NwV Øsrkvksa dks muds
}kjk oLrqvksa ds ç;ksx ds vuqlkj nh tkrh gSA mnkgj.kkFkZ] fctyh foHkkx vkoklh; vkSj
O;kolkf;d dkWyksa ds fy, vyx&vyx nj fu/kkZfjr djrk gSA
6. QqVdj dher&fu/kkZj.k (Retail Pricing)
QqVdj foØsrk oLrq dh dher&fu/kkZj.k djrs le; ml oLrq dks [kjhnus dh ykxr ds
Åij ml fcØh djus dh ykxr dks tksM+ nsrk gSA budh ykxr vkSj foØ; dher ds vUrj
dks ldy ykHk vUrj (gross profit margin) dgrs gSaA ldy ykHk vUrj ls mldh foØ;
ykxrksa dks ?kVkus ls 'kq) ykHk vUrj (net profit margin) çkIr fd;k tk ldrk gSA xQ vkSj
fgy ds vuqlkj] ^QqVdj foØsrkvksa ds fy, dher&fu/kkZj.k dh lkekU; fof/k ;g gS fd
mRikndksa }kjk oLrqvksa dh vuq'kaflr fcØh dher dks crk;k tk, vkSj fQj mlesa ls O;kikj cêk
ldy ykHk ek£tu ds cjkcj gksxkA QqVdj foØsrkvksa }kjk dher&fu/kkZj.k vkSj mRikndksa }kjk
dher&fu/kkZj.k ds chp ds vUrj dks ge fuEu :i ls Li"V djsaxs %
1. QqVdj foØsrkvksa dh eq[; ykxrsa Li"V vkSj fLFkj gksrh gSa tcfd mRikndksa }kjk
dher fu/kkZj.k Hkfo"; dh vLi"V vuqekfur ykxrksa ij vk/kkfjr gksrk gSA
2. QqVdj foØsrk oLrq dks lh/ks miHkksDrk dks csprs gS ftUgsa cktkj dh vf/kd tkudkjh
ugha gksrhA nwljh vksj mRiknd lkekU;r% vU; O;olkf;;ksa dks csprs gSa ftUgsa cktkj dh iwjh
tkudkjh gksrh gSA
3. mRiknd oLrq dh dher&fu/kkZfjr djrs le; ykxr] ekax vkSj çfr;ksxh n'kkvksa ij
fopkj djrk gS] tcfd QqVdj foØsrk viuh oLrqvksa dh dher chtd (invoice) ykxr ds vk/
kkj ij fu/kkZfjr djrs gSA
4. QqVdj foØsrk dbZ lacaf/kr oLrqvksa dks csprs gSaA os vyksdfç; oLrqvksa dks cspus ds
mís'; ls çk;% yksdfç; oLrqvksa dh dher de j[krs gSa tcfd mRikndksa ds lkFk ,slh fLFkfr
ugha gksrh gSA
7. vxz.kh dher&fu/kkZj.k vFkok ubZ oLrq dh dher&fu/kkZj.k
(Pioneer Pricing or New Product Pricing)
;gka ubZ oLrq ls gekjk vfHkçk; oSlh oLrq ls gS tks cktkj esa miyC/k fdlh vU; oLrqvksa
ls fØ;kRed :i ls vleku gksA ,slh oLrq dh dher&fu/kkZfjr djrs le; leL;k ;g gS fd
(i) mRikfnr gksus okyh ubZ oLrq dh ekax D;k gksxh \ (ii) ;fn oLrq dh fudV LFkkukiUu gS rks
LFkkukiUurk dh vuqekfur okLrfod dksfV (degree) D;k gksxh \ (iii) oLrq dh fofuekZ.k vkSj
foi.ku ykxr D;k gksxh \ blds vfrfjDr] ;g ckr Hkh egRoiw.kZ gksrh gS fd mRiknu dh ek=kk
vkSj rduhdh Kku esa ifjorZu ds lkFk ykxr <kapk Hkh ifjo£rr gks tkrk gSA lkFk gh] ubZ oLrq
ykus ds ihNs QeZ dk D;k mís'; gSA bu leL;kvksa ds chp ubZ oLrq dh dher&fu/kkZfjr djrs
le; fuEu nks çdkj dh uhfr;ksa dks viuk;k tk ldrk gS %
(1) eykbZ mrkjus okyh dher uhfr (Skimming Price Policy)—bl uhfr ds vUrxZr
ubZ oLrq dk cktkj esa ços'k djrs le; mRiknd ml oLrq dh vis{kkÑr Åaph dher fu/kkZfjr
djrk gS vkSj fcØh çksRlkgu ij Hkkjh [kpZ djrk gS rkfd cktkj esa eykbZ mrkjh tk ldsA og
;g ekudj pyrk gS fd nh?kZdky esa tc oLrq dh çHkkoh ekax de gksuh 'kq: gks tk,xh rks
mldk ykHk Hkh de gks tk,xkA
bl uhfr dks fp=k 3 }kjk n'kkZ;k x;k gSA

fp=k 3 esa ubZ oLrq dk fuekZrk çkjaHk esa vf/kd dher
OP j[krk gS rFkk mldh OQ ek=kk csprk gSA bl
çdkj og KPMN vlkekU; ykHk çkIr djrk gSA
bl dher uhfr esa mRiknd }kjk miHkksDrk dh oLrq
ds çfr bPNk dh rhozrk ds vk/kkj ij muesa Hksn
fd;k tkrk gSA mnkgj.k ds rkSj ij ge ns[krs gS
fd dEI;wVj] Vh0oh0] bySDVªkfud dSydqysVj vkfn
dh çkjafHkd dher dkQh Åaph Fkh tks vc o"kZ&çfro"kZ
?kVrh tk jgh gSA
bldh mi;ksfxrk (Its Usefulness)— fp=k 3.
bl dher uhfr ds fuEu vkSfpR; ;k mi;ksfxrk,a gSa %

1. fdlh oLrq dh ekax çkjafHkd fnuksa esa ckn ds fnuksa dh vis{kk de dher yksp gksrh gS
D;ksafd vxz.kh (pioneer) miHkksDrk çkjaHk esa Åaph dher ij Hkh oLrq dks [kjhnsaxsA blfy, QeZ
dks ubZ oLrq ds fy, eykbZ mrkjus okyh dher uhfr viukuh pkfg,A
2. bl dher uhfr dk ,d ykHk ;g Hkh gS fd oLrq dh Åaph dher ls mldh xq.koÙkk
okyh Nfo curh gS vkSj fcØh c<+rh gSA
3. bl uhfr ls oLrq dh ykxr tYnh iwjh gks tkrh gSA vr% ;g ,d lqjf{kr dher uhfr
gSA
4. ;fn oLrq dk thou&dky NksVk gks rks ;g dher&uhfr vkSj Hkh vf/kd egRoiw.kZ gks
tkrh gSA
5. ;g dher uhfr fofHkUu ykspksa ds vk/kkj ij cktkj dks foHkkftr djds dher&fuèkkZfjr
djus dk volj çnku djrh gSA
(2) ços'k dher uhfr (Penetration Price Policy)—;g ,d ,slh dher&uhfr gS
ftlds vUrxZr cM+s cktkjksa esa 'kh?kz ços'k djus ds fy, çkjaHk esa oLrq dh dher fuEu Lrj ij
j[kh tkrh gSA bu cktkjksa esa Øsrk oLrq dh uohurk ds fy, Åaph dher ugha nsuk pkgrkA vr%
j[kdj fcØh dh ek=kk esa o‘f) vkSj oLrq dh bdkbZ
ykxr esa deh djuk pkgrh gSA vFkkZr~ QeZ }kjk
uhph dher uhfr viukus dk mís'; vYidkyhu
ykHk ugha cfYd çfr;ksfxrk dk grksRlkfgr dj
nh?kZdkyhu ykHk dekuk gksrk gSA
fp=k 4 esa cktkj dher OP0 vkSj ekaxh xbZ
ek=kk OQ gSA vc ubZ oLrq dk mRiknd cktkj
dher ls de dher vFkkZr~ OP1 fuf'pr djrk gS
vkSj OQ1 vf/kd ek=kk csprk gSA Li"Vr% bldk
foLr‘r laHkkfor cktkj gksrk gSA
bldh mi;ksfxrk (Its Usefulness)—
fp=k 4.
bl dher uhfr ds fuEu vkSfpR; ;k mi;ksfxrk,a gSa %
1. LokHkkfod gS fd ;fn oLrq dh dher uhph gksxh rks fcØh c<+sxh vkSj bdkbZ ykxr de
gksxhA vr% bl dher uhfr dk O;kogkfjd egRo gSA
2. ;g dher&uhfr fo'ks"kdj ,slh cktkj n'kk esa vf/kd mi;ksxh gS tgka vYidkyhu
dher yksp vf/kd gksrh gSA
3. ;fn m|ksx esa ubZ Qeks± ds ços'k dh laHkkouk gS rks QeZ cktkj esa ,d cM+s Hkkx ij
vfèkdkj djus ds fy, ;g dher&uhfr vfr mi;ksxh gSA
4. ;fn oLrq lkewfgd miHkksx dh gks rks ;g dher&uhfr QeZ ds fy, vf/kd mi;ksxh gSA
5. ;g dher uhfr ml oLrq ds lanHkZ esa vkSj Hkh vf/kd mi;ksxh gS ftldk dksbZ isVsUV
laj{k.k ugha gksA
ijUrq ;g dher uhfr ml oLrq ds lanHkZ esa vPNh ugha gS ftldk cktkj NksVk jgus dh
laHkkouk gksA lkFk gh blds vUrxZr fuos'k dh xbZ iwath nh?kZ vof/k esa okil vkrh gSA vr%
bl ckr dh tksf[ke cuh jgrh gS fd ckn ds ços'kdrkZ rRdkyhu csgrj mRiknu rduhdksa dk
ç;ksx dj vxz.kh QeZ dh okLrfod ykxr ls de dher ij cspuk u 'kq: dj nsaA
fu"d"kZ esa ge ;g dg ldrs gS fd m|ksx esa u;s çfr;ksfx;ksa ds laHkkfor ços'k dh laHkkouk
dks jksdus ds fy, uhph ços'k dher uhfr viuk;h tkkuh pkfg,A ijUrq QeZ ds fy, ,d mfpr
dher uhfr bl ckr ij fuHkZj djsxh fd og fdu fo'ks"k ifjfLFkfr;ksa esa dke dj jgh gSA QeZ
dks LFkkukiUu oLrq dh dherksa ij vko';d fopkj djuk pkfg,A ;fn LFkkukiUu oLrq dh
dhersa Hkh Åaph gS ;k ;s nwj dh LFkkukiUu gS rks Qez ds fy, eykbZ mrkjus okyh dher uhfr
mfpr gksxhA vU;Fkk] lkekU; fLFkfr esa QeZ }kjk oLrq dks fo'kky cktkj dh igqap ds vUnj
ykus ds fy, uhph ços'k dher uhfr viukuh pkfg,A ,slh fLFkfr esa dher&laosnu'khyrk
(price sensitive) Øsrk ml oLrq dks [kjhnsaxs ftlls fcØh c<+sxh vkSj QeZ dks cM+s iSekus dh
ferO;f;rk,a çkIr gksaxhA
5. oLrq&J‘a[kyk dher&fu/kkZj.k
(Product-Line Pricing)
dbZ Qes± fofo/k oLrq,a mRikfnr djrh gS ftlls Qez dh ,d oLrq&J‘a[kyk rS;kj gksrh gSA
;s oLrq,a ,d&nwljs ls LFkkukiUu vFkok iwjd ds :i ls lacaf/kr gksrh gSA QeZ dh oLrq&J‘a[kyk
dher&fu/kkZfjr djrs le; ekax dh çfryksp ij fopkj djuk vfr vko';d gksrk gSA ge
uhps LFkkukiUu vkSj iwjd oLrqvksa dh dher&fu/kkZj.k dh ppkZ vyx&vyx dj jgs gSA
LFkkukiUu oLrqvksa dk dher&fu/kkZj.k (Pricing of Substitute Products)—QeZ viuh
oLrq&J‘a[kyk esa LFkkukiUu oLrqvksa dk mRiknu fofHkUu ekax yksp okys ekax {ks=kksa dks vyx djus
ds mís'; ls djrh gS] rkfd vius laiw.kZ ykHk dks vf/kdre fd;k tk ldsA mnkgj.kkFkZ] ek#fr
m|ksx fy0 ek#fr 800, ek#fr tsu] vkYVks] LVhe] Cysuks vkfn dk mRiknu djrh gSA ;s
LFkkukiUu oLrq,a miHkksDrkvksa dh vfHk:fp;ksa] vf/kekuksa vkSj fofHkUu vk; oxZ ds yksxksa dks è;ku
esa j[krs gq, mRikfnr dh tkrh gSaA oLrq&J‘a[kyk dks ,slh oLrq,a vU; Qeks± dh leku oLrqvksa
ds lkFk çfr;ksfxrk djrh gSaA lkFk gh os QeZ ds Hkhrj Hkh ,d nwljs ls çfr;ksfxrk djrh gS
D;ksafd os leku vko';drk,a iwjk djrh gSA
LFkkukiUu oLrqvksa ds fy, oLrq&J‘a[kyk dher&fu/kzj.k dh lkekU;r% nks fof/k;ka gSa %
igyh fof/k ewY;&c<+ko dher&fu/kkZj.k (Milk-up Pricing) dh gSA mRiknd blds
vUrxZr viuh laiw.kZ oLrq&J‘a[kyk ds fy, ,d gh fof/k }kjk dher fu/kkZfjr djrk gSA lkFk
gh] J‘a[kyk dh lHkh leku oLrqvksa ds fy, leku ykHk jkf'k (margin) ç;ksx dh tkrh gSA blesa
oLrqvksa dh dher ykxrksa ds vuqikr esa fu/kkZfjr dh tkrh gSA
nwljh fof/k ds vUrxZr oLrq dh dher ykxrksa ds Lrj ds lkFk ykHk&jkf'k dh ek=kk dks
ifjo£rr dj fu/kkZfjr dh tkrh gSA blfy, oLrq dh ykxr ftruh vf/kd gksxh] ykHk dh jkf'k
mruh gh vf/kd gksxh vkSj LokHkkfod gS] dher Hkh mruh gh vf/kd gksxhA vkWVkseksckby m|ksx
esa dher&fu/kkZj.k bl fof/k dk ,d mnkgj.k gks ldrk gSA
;|fi ;s nksuksa fof/k;ka ekax] çfr;ksxh n'kkvksa vkSj J‘a[kyk dh çR;sd oLrq dh cktkj
ifjiDork dh dksfV esa vUrj ij dksbZ fopkj ugha djrh] lkFk gh ys[kk fof/k }kjk la;qDr ykxrksa
dks foHkkftr djuk Hkh U;k;laxr ugha gSA
bl çdkj] oLrq&J‘a[kyk esa LFkkukiUu oLrqvksa dh dher ,slh gksuh pkfg, ftlls QeZ
}kjk cktkj {ks=kksa ds chp ekax ykspksa ds Hksn dk ykHk mBk;k tk lds vkSj vf/kdre va'knku
jkf'k (contribution margin) dh çkfIr gksA
la;qDr oLrqvksa vFkok iwjd oLrqvksa dh dher&fu/kkZj.k (Pricing of Joint Products or
Complementary Products)—ftu oLrqvksa dh la;qDr ekax gksrh gS] os oLrq,a iwjd dgykrh
gSA ,d oLrq dh dher fxjus ls nwljh oLrq dh ekax c<+ tkrh gS] vkSj foykse'k% HkhA QeZ
viuh oLrq&J‘a[kyk esa iwjd oLrqvksa dk mRiknu blfy, djrh gS rkfd bu oLrqvksa dh ekax dh
çfr yksp (cross elasticity) dk ykHk mBk;k tk ldsA mRiknd] oLrq&J‘a[kyk dh fdlh oLrq
dks gkfu ij cspdj Hkh ykHk dh fLFkfr esa gks ldrk gS] ;fn iwjd oLrq vkSj vkSlr ls vf/kd
ykHk jkf'k ij fcd tkrh gSA iwjd oLrqvksa ds dher&fu/kkZj.k dh lkekU;r% rhu uhfr;ka gS tks
fuEu gSa %
1. gkfu vxz.kh (Loss Leaders)—bl dher&uhfr ds vUrxZr] oLrq chtd (Invoice)
ykxr ls de ij ;k çpfyr dher ls cgqr uhph dher ij csp nh tkrh gS vkSj bldk foKkiu
}kjk çpkj fd;k tkrk gSA bl dher dk foKkiu }kjk çpkj fd;k tkrk gSA bl dher uhfr
dk ç;ksx vf/kdka'kr% ijpwu foØ; esa gksrk gSA bl dher uhfr dk mís'; xzkgdksa dks vU;
oLrq,a [kjhnus ds fy, vkd£"kr djuk vkSj mudh #fp iSnk djuk gS ftlls ekax oØ nkb± vksj
ljd tk,A
;fn oLrq dh dher chtd ykxr ls de j[kus ds dkj.k gqbZ gkfu ls iwjd oLrqvksa ls
çkIr vçR;{k ykHk vfèkd gks tk, rks fopkjk/khu oLrq ;k gkfu vxz.kh ij çR;{k gkfu dk dksbZ
egÙo ugha gksxkA lkFk gh ;g uhfr viukrs le; QeZ dh laHkkouk gksrh gSA fd orZeku gkfu
Hkfo"; dh fcØh vkSj ykHk dks çksRlkfgr djsxhA
vr% dher uhfr dks gkfu vxz.kh dguk mfpr ugha gSaA okLro esa] ,d dq'ky çca/ku gkfu
vxz.kh oLrqvksa dk lgh pquko vkSj dher&fu/kkZj.k dj viuk ykHk c<+k ldrk gSA
2. fcØh lEc) (Tie-in Sales)—bl dher&uhfr esa xzkgdksa dks mudh vf/kekfur
oLrqvksa dh [kjhn ds lkFk fcdus okyh vU; oLrqvksa dh [kjhn dks tksM+ fn;k tkrk gS ftlls
foØsrk xzkgd dks ,d la;qDr oLrq çLrqr djrk gSA vktdy dbZ iSdst okyh oLrqvksa ds lkFk
Þ,d [kjhnks vkSj ,d eq¶r ikvksß dk çLrko gS tks fcØh lEc) dher&uhfr dk mnkgj.k gSA
3. f}Hkkxh; 'kqYd (Two-Part Tariff)—bl dher&uhfr ds vUrxZr Øsrk la;qDr oLrq
ds fy, nks dhersa nsrk gSA blds fLFkj Hkkx ds fy, mi;ksfxrk ls vlEc) ,d fuf'pr dher
vkSj nwljs Hkkx tSls lsokvksa ds ifjo£rr çokg ds fy, ,d vyx dher yh tkrh gSA
mnkgj.kkFkZ] fctyh foHkkx }kjk fctyh rkj ,oa ehVj ds fy, ,d fuf'pr dher vkSj fctyh
ç;ksx ds vuqlkj mlds ;wfuV dh vyx dher yh tkrh gSA
bl çdkj] oLrq&J‘a[kyk dher&fu/kkZj.k dk çeq[k mís'; J‘a[kyk dh lHkh oLrqvksa dh
dherksa dk ,d mi;qDr <kapk rS;kj djuk gS ftlls lexz :i esa lokZf/kd ykHk dh çkfIr gksA
6. LFkkukUrj.k dher&fu/kkZj.k
(Transfer Pricing)
cM+h Qes± vius dk;Z çk;% dbZ foHkkxksa esa ckaVdj djrh gSaA blesa ,d foHkkx dh oLrq
nwljs foHkkx }kjk ç;ksx dh tkrh gSA bl fLFkfr esa Qeks± ds lkeus ;g leL;k gksrh gS fd ,d
foHkkx ;k mifoHkkx ls nwljs foHkkx dks LFkkukUrfjr oLrq ds fy, mfpr dher D;k gksuh pkfg,
\ vFkkZr~ LFkkukarj.k dher&fu/kkZj.k ls vfHkçk; laxBu ds Hkhrj ijLij fuHkZj bdkb;ksa ;k
foHkkxksa ds chp LFkkukUrfjr oLrqvksa ;k lsokvksa dh dher&fu/kkZj.k ls gSA ;g laxBu esa ykHk
dekus okys foHkkxksa dh vk£Fkd miyfC/k dk eki djus dk dk;Z djrk gSA
mís';µ;µLFkkukUrj.k dher&fu/kkZj.k djrs le; QeZ ds fuEu mís'; gksrs gSa %
1. QeZ dk mís'; ;g lqfuf'pr djuk gS fd mldk y{; vkSj lacaf/kr foHkkx dk y{;
,d gh gksA
2. LFkkukUrfjr oLrq dh ,d ,slh dher fu/kkZfjr dh tk, ftlls çR;sd foHkkx dh
ykHkçnrk lqfuf'pr gksA
3. dher ,slh gksuh pkfg, tks fdlh fo'ks"k foHkkx dh vis{kk laiw.kZ daiuh ds ykHkksa ds
vfèkdrehdj.k dks çksRlkfgr djsaA
LFkkukUrj.k dher&fu/kkZj.k djrs le; dbZ fHkUu&fHkUu fLFkfr;ksa ij fopkj djuk
vko';d gSA
1. LFkkukUrj.k dher&fu/kkZj.k % cká cktkj dh vuqifLFkfr
(Transfer Pricing : Absence of an External Market)
;fn fdlh eè;orhZ (intermediate) oLrq dk dksbZ cká cktkj ugha gks rks bl fLFkfr esa
LFkkukUrj.k dher&fuèkkZj.k mRiknd dh lhekUr ykxr ds vuqlkj gksxkA
eku fy;k fd QeZ ds nks Lora=k foHkkx
gS%a mRiknu foHkkx vkSj foi.ku foHkkxA mRiknu
foHkkx ,d oLrq dk mRiknu djrk gS tks mlh
Qez ds foi.ku foHkkx dks csp nsrk gSA ftl
dher ij csprk gS mls gh LFkkukUrj.k dher
dgrs gSaA vkxs] foi.ku foHkkx ml oLrq dh
iSdsftax dj vafre oLrq dk :i nsrk gS vkSj
"
!
ckgj yksxksa dks csp nsrk gSA ge ;g Hkh eku

ysrs gS fd mRiknu foHkkx }kjk fu£er ml
oLrq dk QeZ ds ckgj dksbZ cktkj ugha gSA
vFkkZr~ foi.ku foHkkx ml oLrq dh iw£r ds fy, fp=k 5.
mRiknu foHkkx ij vkSj mRiknu foHkkx ij vkSj mRiknu foHkkx ml oLrq dh ekax ds fy,
foi.ku foHkkx ij iw.kZr% fuHkZj gSA vr% mRiknu foHkkx }kjk fu£er oLrq dh laiw.kZ ek=kk
foi.ku foHkkx }kjk fcØh dh xbZ ek=kk ds cjkcj gksuh pkfg,A
fp=k 5 esa MCP vkSj MCM Øe'k% mRiknu foHkkx vkSj foi.ku foHkkx ds ykxr oØ gSa vkSj
MC QeZ dk ykxr oØ gSA MC oØ MCP vkSj MCM dk tksM+ gSA vafre oLrq ds fy, QeZ
dk ekax oØ DF vkSj lhekUr vkxe oØ MR gSA bl çdkj] QeZ OQ ek=kk dk mRiknu djus
ls vfèkdre ykHk dh fLFkfr esa gksxh D;ksafd E fcUnq ij lhekUr ykxr (MC), lhekUr vkxe
(MR) ds cjkcj gSA bl mRiknu&ek=kk dks cspus ds fy, mldh dher OP gksuh pkfg,A
vc ç'u gS fd mRiknu foHkkx dks viuh oLrq ds fy, foi.ku foHkkx ls fdruh dher
ysus pkfg, \ LFkkukiUu dher mRiknu foHkkx dh lhekUr vkxe ds cjkcj gksrh gSA
LFkkukUrj.k dher ,d ckj fuf'pr gksus ij lnSo fLFkj gksrh gS D;ksafd mRiknu foHkkx dk ekax
oØ {kSfrt gksrk gS ftl ij mRiknu foHkkx dh lhekUr vkxe vkSj LFkkukUrj.k dher cjkcj
gksrh gSA vFkkZr~ D = MRP = P1A mRiknu foHkkx dks eè;orhZ oLrq ds fy, lokZf/kd ykHk ogka
gksxk tgka LFkkukUrj.k dher (P1) tks mldh lhekUr vkxe (MRP) Hkh gS] mldh lhekUr ykxr
(MCP) ds cjkcj gksxhA ;g fLFkfr E1 fcUnq ij gksrh gS tgka MCP oØ D = MRP = P1 dks uhps
ls dkVrk gSA
2. LFkkukUrj.k dher&fu/kkZj.k % cká cktkj dh mifLFkfr
(Transfer Pricing : Presence of an External Market)
;fn eè;orhZ oLrq dk cká cktkj gks rks mRiknu foHkkx foi.ku foHkkx dh t:jrksa ls
vfèkd oLrq Hkh mRikfnr dj ldrk gS vkSj vfrjsd oLrq dks cká cktkj esa csp ldrk gSA
nwljh vksj] og foi.ku foHkkx dh t:jrksa ls de mRiknu Hkh dj ldrk gS vkSj foi.ku foHkkx
viuh ckdh cph t:jrksa dks cká cktkj ls iwjk dj ldrk gSA bl çdkj og vius ykHk dks
vf/kdre djus ds fy, vf/kd Lora=k gksrk gSA
vc ge iw.kZ çfr;ksxh cktkj esa LFkkukUrj.k dher ds fu/kkZj.k dk vè;;u djsaxsA
(1) LFkkukUrj.k dher&fu/kkZj.k % iw.kZ çfr;ksxh cká cktkj esa (Transfer Pricing : In
a Perfectly Competitive External Market)—iw.kZ çfr;ksxh cká cktkj dh n'kk esa tgka
eè;orhZ oLrq QeZ ds ckgj iw.kZ çfr;ksxh cktj ls [kjhnh ;k csph tk ldrh gS] mRiknu foHkkx
}kjk mRikfnr dh xbZ ek=kk foi.ku foHkkx ds fy, vko';d ek=kk ds cjkcj ugha Hkh gks ldrh
gSA ,slh fLFkfr esa eè;orhZ oLrq dh LFkkukUrj.k dher ml oLrq dh cktkj dher gksrh gSA
lkFk gh] QeZ lokZf/kd ykHk dh fLFkfr esa rHkh gks ldrh gS tc mlds lHkh foHkkx vius lacaf/
kr lkFk gh] QeZ lokZf/kd ykHk dh fLFkfr esa rHkh gks ldrh gS tc mlds lHkh foHkkx vius lacaf/
kr MC = MC fcUnqvksa ij dk;Z dj jgs gksaA bu fLFkfr;ksa esa LFkkukRj.k dher&fu/kkZj.k dh
O;k[;k ge fuEu js[kkfp=k dh lgk;rk ls djrs gSA
fp=k 6.
fp=k 6 esa D oØ eè;orhZ oLrq dk ekax gs tks {kSfrt js[kk ds :i esa gSA ;g oØ mRiknu
foHkkx dh lhekUr vkxe (MRP), vkSlr vkxe (ARP) vkSj dher (P) dks Hkh n'kkZrk gSA fp=k
ds vuqlkj] OQ2 mRiknu foHkkx dks lokZf/kd ykHk çkIr gksxk] D;ksafd ;gka lhekUr mRiknu
ykxr] MCP lhekUr vkxe MRP ds cjkcj gS tks OP1 dher Lrj dks fu/kkZfjr djrh gS ;g
larqyu fLFkfr fcUnq E ij gS tgka MCP oØ D = ARP = MRP dks uhps ls dkVrk gSA
iw.kZ çfr;ksxh cktkj esa QeZ ds laiw.kZ ykHk dks vf/kdre djus ds fy, Hkh LFkkukiUu
dher dks OP1 Lrj ij j[kuk mi;qDr gksxkA blh dher ij mRiknu foHkkx] foi.ku foHkkx
dks ;k ckgjh xzkgdksa dks viuh eè;orhZ oLrq cspsxk vkSj foi.ku foHkkx Hkh mRiknu foHkkx dks
eè;orhZ oLrq ds fy, OP1 dher gh nsxkA
foi.ku foHkkx dks lhekUr ykxr oØ MCM gS tks lhekUr foi.ku ykxr vkSj LFkkukUrj.k
dher P1 dk tksM+ gSA vius ykHk dks vf/kdre djus ds fy, foi.ku foHkkx dks mRiknu dh
OQ1 ek=kk [kjhnuh gksxh tgka mldh lhekUr ykxr MCM fcUnq E1 ij lhekUr vkxe MRM ds
cjkcj gSA fp=k ds vuqlkj mRiknu foHkkx ds fy, lokZf/kd ykHkçn ek=kk OQ2 gksxh vkSj
foi.ku foHkkx ds fy, lokZf/kd ykHkçn ek=kk OQ1 gksxhA lhekUr vkxe MRM ds cjkcj gSA
fp=k ds vuqlkj mRiknu foHkkx ds fy, lokZf/kd ykHkçn ek=kk OQ2 gksxh vkSj foi.ku foHkkx
ds fy, lokZf/kd ykHkçn ek=kk OQ1 gksxhA vr% mRiknu foHkkx vius mRiknu dk OQ2 − OQ1
Hkkx cká cktkj esa cspsxkA
(2) LFkkukUrj.k dher&fu/kkZj.k % viw.kZ çfr;ksxh cká cktkj esa (Transfer Pricing:
In a Imperfectly Competitive External Market)—;gka ge ml cktkj fLFkfr esa LFkkukUrj.k
dher&fu/kkZj.k dh ppkZ djrs gS tgka mRiknu foHkkx viuh oLrq dks foi.ku foHkkx ds
lkFk&lkFk ,d viw.kZ çfr;ksxh cktkj esa csprk gSA ,slh fLFkfr esa fofHkUu cktkjksa esa dher
foHksn dh ,d egRowi.kZ leL;k mRiUu gksrh gS ;gka mRiknu foHkkx dks vf/kdre ykHk rc gksxk
tc çR;sd cktkj esa lhekUr vkxe dqy cktkj ds lhekUr vkxe ds cjkcj gksxkA vFkkZr~
foi.ku foHkkx ds fy, LFkkukUrj.k dher] mRiknu foHkkx dh lhekUr ykxr ds cjkcj gksuh
pkfg,A viw.kZ çfr;ksxh cká cktkj dh fLFkfr esa LFkkukUrj.k dher&fu/kkZj.k dks fp=k 7 esa
fd;k x;k gSA
fp=k 7.
fp=k dk Hkkx (A) viw.kZ çfr;ksxh cká cktkj ls lacaf/kr gS ftlesa D oØ mldk ekax oØ
vkSj MRE oØ mldk lhekUr vkxe oØ gSA Hkkx (B) foi.ku foHkkx ls lacaf/kr gS ftlesa
MRM oØ foi.ku foHkkx dk 'kq) (net) lhekUr vkxe oØ gSA vFkkZr~ MRM = (PT = MCP)A
;gka LFkkukUrj.k dher (PT) mRiknu foHkkx dh lhekUr ykxr (MCP) ds cjkcj gSA Hkkx (C)
mRiknu foHkkx ls lacaf/kr gSA bldk lhekUr vkxe MRP QeZ ds Hkhrj foi.ku foHkkx dk
lhekUr vkxe (MRM) vkSj cká cktkj dk lhekUr vkxe (MRE) dk ;ksx gSA mRiknu foHkkx
dk b"Vre mRiknu Lrj OQ gS tgka E fcUnq ij lhekUr vkxe oØ MRP lhekUr ykxr oØ
MC ds cjkcj gS vkSj LFkkukUrj.k dher OPT gSA OPT LFkkukUrj.k dher ij foi.ku foHkkx
mRiknu dh OQM bdkb;ka [kjhnsxk vkSj mRiknu dh OQE bdkb;ka cká cktkj esa OP dher
ij csp ldsxkA
7. dher iwokZuqeku
(Price Forecasting)
dher iwokZuqeku ls gekjk vfHkçk; vkxs vkus okyh fdlh le; vof/k esa dPps eky vkSj
mRiknu ds vU; lkèkuksa ,oa QeZ }kjk mRikfnr oLrqvksa dh cktkj dherksa ds iwokZuqeku ls gSA
QeZ ds lkeus lnSo dPps eky vksj vius }kjk mRikfnr oLrqvksa dh dherksa esa egRoiw.kZ ifjorZu
dk tksf[ke cuk jgrk gSA dher ifjorZu lkekU; vk£Fkd mrkj& p<+ko ds dkj.k gks ldrk
gSA ijUrq dbZ oLrqvksa dh dherksa esa ifjorZu lkekU; dher&Lrj esa fLFkjrk gksus ds ckotwn Hkh
gks ldrk gSA ,slh fLFkfr esa QeZ dks ykHk vf/kdre djus ds fy, Hkfo"; dh dherksa dk
iwokZuqeku djuk vko';d gks tkrk gSA D;ksafd ;fn QeZ dPps eky ;k mRiknu ds vU; lkèkuksa
dh dherksa esa laHkkfor ifjorZu dk iwokZuqeku ugha dj ikrh gS rks og Hkfo"; esa oLrq dh
ifjo£rr ykxr ds lkFk mldh dher dk lek;kstu ugha dj ik,xh vkSj QeZ dks gkfu gksxhA
dher iwokZuqeku dks çHkkfor djus okys ?kVd
(Factors Affecting Price Forecasting)
QeZ dks ,d lQy dher iwokZuqeku ds fy, fopkjk/khu oLrq ds dher iwokZuqeku dks
çHkkfor djus okys ?kVdksa dh tkudkjh çkIr djuk vko';d gS ftudh ppkZ uhps dh tk jgh
gSa %
1. oLrq dh çÑfr vkSj mldk cktkj (Nature of Commodity and its Market)—
fdUgha nks oLrqvksa dh vis{kk iw£r esa ,d fn, gq, ifjorZu ls dher esa vis{kkÑr de ifjorZu
gksxkA
2. iw£r esa ifjorZu (Change in Supply)—;fn fdlh oLrq dh ekax ifjo£rr gksrh gS
rks mldh dher esa ifjorZu çk;% lkekU;r% mldh iw£r dh n'kk ij fuHkZj djsxkA vr% dher
iwokZuqeku djrs le; bl ckr ij fopkj djuk vko';d gS fd fopkjk/khu oLrq dh iw£r esa
ifjorZu 'kh?kzrk ls ;k /khjs&/khjs ;k fdlh fuf'pr vof/k ds mijkar djuk laHko gksxkA
3. lacaf/kr oLrq dh dher esa ifjorZu (Changes in the Price of Related
Commodity)—oLrq dh dher esa ifjorZu mlls lacaf/kr oLrq dh dher esa ifjorZu ij Hkh
fuHkZj djrh gSA fu£er oLrqvksa dh dhersa muls lacaf/kr dPps eky dh pkyw dherksa ij fuHkZj
djrh gSaA vr% oLrq ds mfpr dher iwokZuqeku ds fy, lacaf/kr dPps eky dh dher dk
iwokZuqeku vko';d gSA
4. ekax vkSj iw£r dk lkisf{kd çHkko (Relative Influence of Demand and Supply)—
dher iwokZuqeku djrs le; ekax vkSj iw£r ij iM+us okys lkisf{kd çHkkoksa dk fo'ys"k.k djuk
vko';d gSaA Ñf"k mRiknksa dh ekax çk;% fLFkj gksrh tcfd iw£r cnyrh jgrh gSA vr% ,slh
oLrqvksa dk dher iwokZuqeku djrs le; mlds iw£r&i{k ij fo'ks"k è;ku nsuk pkfg,A nwljh
vksj] fu£er oLrqvksa dh dher ij iw£r dh vis{kk ekax dk çHkko vf/kd gksrk gSA vr% ,slh
oLrqvksa ds dher iwokZuqeku esa ekax fo'ys"k.k ij vf/kd è;ku nsuk pkfg,A
5. Hkwrdkyhu ekax (Past Demand)—lkekU;r% oLrq dh fiNyh ekax mldh Hkfo"; esa
gksus okyh ekax dk fo'oluh; ladsrd gksrk gSA vr% oLrq dh fiNyh ekax ds vk/kkj ij mldh
Hkfo"; dh ekax dk vuqeku dj ml oLrq dk dher iwokZuqeku fd;k tk ldrk gSA
6. miHkksDrk dh Ø;&'kfDr (Purchasing Power of the Consumer)—miHkksDrk

oLrqvksa dh ekax] jk"Vªh; vk; dk Lrj vkSj mldk leqfpr forj.k vFkkZr~ miHkksDrk dh Ø;
'kfDr ij vR;f/kd fuHkZj djrh gSA blh çdkj] mRiknd oLrqvksa dh ekax QeZ dh rjyrk
fLFkfr vkSj iwath cktkj dh n'kkvksa ij fuHkZj djrh gSA vr% dher iwokZuqeku ds le; lacaf/
kr ?kVdksa ij fopkj djuk vfr vko';d gSA
7. oLrq dks [kjhnus dh rRijrk (Promptness of Buying the Products)—laHko gS
fd Øsrk ds ikl i;kZIr Ø;&'kfDr gks ijUrq mlesa fopkjk/khu oLrq [kjhnus dh rRijrk gksA
;fn Hkfo"; esa bl oLrq dh dher c<+us dh laHkkouk gks rks miHkksDrk vis{kkÑr Åaph dher ij
Hkh oLrq dks [kjhnuk pkgsaxsA nwljh vksj] ;fn oLrq dh dher Hkfo"; esa de gksus dh laHkkouk
gks rks os vis{kkÑr de dher ij Hkh mls ugha [kjhnsaxsA vr% dher iwokZuqeku esa ekax ls
lacafèkr ;g rRo vfr egRowi.kZ gSA
8. oLrq dh çÑfr (Nature of the Product)—dher iwokZuqeku ds fy, ;g Hkh
egRoiw.kZ gS fd fopkjk/khu oLrq eq[; oLrq gS ;k xkS.k oLrqA ;fn oLrq xkS.k oLrq gS rks dher
esa mrkj&p<+ko] eq[; oLrq dh rqyuk esa vf/kd gksxkA D;ksafd xkS.k oLrq dh iw£r mldh ekax
ds vuqlkj ugha cfYd lacaf/kr eq[; oLrq ds vuqlkj gksrh gSA vr% xkS.k oLrq dk dher
iwokZuqeku djrs le; lacaf/kr eq[; oLrq dk laHkkfor mRiknu gh egRowi.kZ gksxkA lkFk gh] xkS.k
oLrq ds lanHkZ esa mRiknu dh ykxr ij fopkj djus dh vko';drk ugha gksrhA
9. ljdkjh gLr{ksi (Government Intervention)—lgh dher iwokZuqeku ds fy,
oLrq dh iw£r vkSj dher ij ljdkjh ;k xSj&vk£Fkd fu;a=k.k Hkh ,d egÙowi.kZ ?kVd gSA ;s
fu;a=k.k lkekU;r% vLFkk;h çÑfr ds gh gksrs gS] ftuds vuqlkj gh dher dk iwokZuqeku fd;k
tkuk pkfg,A
10. çfr;ksfxrk (Competition)—dher iwokZuqeku ds fy, ;g tkuuk Hkh vko';d gS
fd oLrq ds mRikndksa ds chp çfr;ksfxrk dh D;k n'kk gS \ mnkgj.kkFkZ] cktkj esa fdlh çHkkoh
mRiknd dh laHkkfor dher uhfr vU; mRikndksa }kjk dher iwokZuqeku dk ,d egRowi.kZ ?kVd
gksxkA ,dkf/kdkjkRed çfr;ksfxrk dh fLFkfr esa dher esa mrkj&p<+ko de gksxk tcfd dM+h
dher çfr;ksfxrk dh n'kk esa dher esa vR;f/kd ifjorZu gksrk jgrk gSA
11. Øsrk&laxBu (Buyer’s Organisation)—;fn cktkj esa Øsrk&laxBu etcwr gS rks
og dher esa gksus okyh o‘f) dks jksdsxk vkSj dher esa deh djuk pkgsxkA ijUrq ,slk çcy
Øsrk&laxBu nqyZHk gksrk gSA
12. cktkj dh n'kk (Market Condition)—fdlh oLrq dk dher iwokZuqeku mldh
?kjsyw ;k varjkZ"Vªh; cktkj dh n'kk ij Hkh fuHkZj djrk gSA lkekU;r% vf/kdka'k egRoiw.kZ dPps
eky dh dhersa fo'o cktkj esa fu/kkZfjr gksrh gSA lkFk gh os oLrq,a ftudk fofuekZ.k vkSj fcØh
?kjsyw cktkj esa gksrh gS] os Hkh varjk"Vªh; fLFkfr;ksa ls dkQh çHkkfor gksrh gSA ;s çHkko dPps
ekyksa vkSj eqæk cktkjksa ds ekè;e ls ns[kus dks feyrh gSA
bl çdkj mi;qZDr lHkh ?kVd fdlh oLrq ds dher iwokZuqeku dks çHkkfor djrs gSaA
[Average Cost Pricing Theory (Hall and Hitch)]
1939 esa ds Hall and Hitch ds }kjk fd, x, vè;;u ds ifj.kke çdkf'kr gq, ftlesa
mUgksaus 38 Qeks± dk vè;;u fd;k vkSj ;g Qes± lQyrkiwoZd pykbZ tk jgh FkhA Average
Cost Pricing Principle dks ge Mark-up Pricing Hkh dgrs gSaA bl fl)kUr ds vuqlkj fdlh
inkFkZ dk ewY; mldh vkSlr ykxr ds vk/kkj ij fuf'pr fd;k tkrk gSA Hall and Hitch
us bl fl)kUr dk çfriknu fd;kA muds vuqlkj Qes± vius }kjk mRikfnr oLrqvksa dh dher
ifjroZu'khy ykxr] Overhead Cost rFkk lkekU; ykHk gks tksM+dj fu/kkZfjr djrh gSA muds
vuqlkj Qes± lkekU; ykHk çkIr djus dk ç;Ru djrh gSA
Price = AVC + AFC + NPM (Net Profit Margin) = NPM
ekU;rk,¡ %µ
(1) QeZ dk mís';µ;µbl fl)kUr ds vuqlkj QeZ dk mís'; vYidky esa ykHk dks
vfèkdre djuk ugha gksrk gS cfYd og nh?kZdky esa ykHk dks vf/kdre djuk pkgrh gSA vxj
og vYidky esa ykHk dks vf/kdre djuk pkgsxh rks mls Å¡ph dher j[kuh iM+sxh ftlls nwljh
Qes± vkus dk Mj cuk jgrk gS D;ksafd vYidky esa Å¡ph dher j[kus ls ml QeZ dks vlkekU;
ykHk çkIr gksaxs vkSj vU; Qes± Hkh ykHk çkIr djus ds mís'; ls ços'k djus dh laHkkouk c<+
tk,xh vksj mls vius ykHk de gksus dk Hk; yxk jgsxk vFkkZr~ Hkfo"; esa çkIr gksus okys ykHk
dh laHkkouk [kRe gks tkrh gSA
(2) ekax Qyu rFkk iw£r Qyuµ
Qyuµekax dk vuqeku dHkh Hkh ugha yxk;k tk ldrk gSA ;g
vo'; gks ldrk gS fd ftldk T;knk vuqHko gksrk gS og Hkfo"; ds ckjs esa lgh vuqeku yxkus
dh dksf'k'k dj ldrk gSA ysfdu og Hkh ;g ?kks"k.kk ugha dj ldrk fd Hkfo"; esa ,d fuf'pr
dher ij fdruh ekax gksxhA
iw£r oØµ
oØµekax oØ dh rjg dksbZ Hkh QeZ vius nh?kZdkyhu iw£r oØ ;k ykxr oØ dks
ugha tkurh fd nh?kZdky esa oLrq cukus dh ykxr D;k vk,xhA vYidky esa dsoy Variable
Cost dk irk rks py ldrk gS fd og ,d fuf'pr mRiknu Lrj ij D;k gksxhA
Hall and Hitch us ik;k fd lHkh m|eh vkerkSj ij viuh oLrq dh Average variable
cost dks tkurs gS ftlds vk/kkj ij os dher r; djrs gSA mUgksaus ik;k fd gj QeZ esa ,d
Reserve Capacity gksrh gSA ftlds tfj, og ekax ds de T;knk gksus ij og mRiknu dks de
T;knk dj ldrh gSA
Price Determinant—dher dh fu/kkZj.k nks voLFkkvksa esa fd;k tkrk gSA
(1) QeZ ml dher dk vuqeku djrh gS ftlls mls dqy ykxrsa rFkk mfpr ykHk çkIr
gksrs gSa vFkkZr~
(2) Desired Price—QeZ vuqekfur dher dh rqyuk djrh gS fd fdl dher ij vf/
kd Qes± ços'k dj ldrh gSa rFkk og dher fu/kkZfjr djrh gS ftl ij Qeks± ds ços'k ij jksd
yxkbZ tk lds vFkkZr~ P = AVC + GPM
Desired Price dk vuqeku yxkus ds fy, QeZ P = APC + GPM = AC ysrh gSA
P = Price
AVC = Average Variable Cost
GPM = Gross Profit Margin gS
GPM ds vUrxZr AFC rFkk lkekU; ykHkksa dks 'kkfey fd;k tkrk gSA
GPM = AFC + NPM (Net Profit Margin)
bl fl)kUr ds vuqlkj igys LFkkfir Qeks± ds vuqHko ds vk/kkj ij NPM dk Kku gksrk
gSA tks iwath dk mfpr çfrQy çnku djrs gSa rkfd Qeks± esa nh?kZdky esa fuos'k gksrk jgs rFkk
mRiknu lEcU/kh lHkh tksf[keksa dks Hkh Cover djrk gSA iqjkuh oLrq ds mRiknu ds NPM dk
QeZ dks vius vuqHko ls Kkr gksrk gS rFkk ubZ oLrq ds mRiknu dh fLFkfr esa QeZ NPM ,slk
j[krh gS tks lqjf{kr gS vFkkZr~ ;g NPM vkSj Qeks± dks viuh vksj vkd£"kr ugha djrkA bl
çdkj AVC, AFC rFkk NPM ds tksM+us ls gesa Desired Price dk vuqeku gks tkrk gSA ;g
og dher gS tks ,d QeZ olwy djuk pkgsxh rkfd bldh lHkh ykxrsa o lkekU; ykHk mldks
çkIr gksrs gSaA
ysfdu QeZ tks okLro esa ysrh gS tks dher oks olwy djrh gs ok nks ckrksa ij fuHkZj djrh
gS] Actual Price Determinent :
(i) Potentional Competition ¼laHkkfor çfr;ksfxrk½
(ii) Economic Competition ¼vk£Fkd çfr;ksfxrk½
;fn ços'k ij çfrcU/k gS rks okLrfod dher vuqekfur ;k lkekU; dher ls vf/kd gksxh
rks Qeks± dks vlkekU; ykHk çkIr gksxsa vkSj ;fn Qeks± esa ços'k dk vR;f/kd Hk; gS rks okLrfod
dher vuqekfur dher ds yxHkx cjkcj gksxh rFkk Qeks± dks lkekU; ykHk çkIr gksaxsA bl
çdkj GPM fu/kkZj.k m|ksx esa Qeks± ds ços'k ds Hk; ij fuHkZj djrk gSA blds vfrfjDr GPM
esa Adjustment ml le; dh tkrh gS] tc ços'k dj pqdh QeZ de dher olwy dj jgh gSA
rsth dh fLFkfr esa vf/kd GPM rFkk eUnh dh fLFkfr esa de GPM olwy fd;k tkrk gS A
"
!
fp=k 8.
!
fp=k 8 ds vuqlkj MC, AVC, AC oØ fy, x, gS vkSj MC, AC oØ dh uhps ls dkVrk

gS"A eku$ yks
%
,d m|eh nks oLrqvksa dk mRiknu djrk gSA eku yks ,d m|eh nks oLrqvksa dk
mRiknu djrk gS vYidky esaA igyh oLrq dh dher OP fu/kkZfjr djrk gS vkSj mldh ykxr
AC vkrh gS pwafd blus vYidky esa ykHk çkIr djus ds mís'; ls dher OP fu/kkZfjr dh gS rks
mls ACPQL ds cjkcj ykHk çkIr djsxkA vYidky esa ysfdu nwljh rjQ m|eh nh?kZdky esa
viuh lk[k cukus ds fy, OP1 dher fu/kkZfjr djrk gS gkykafd vYidky esa bl dher ij mls
ACP1LM ds cjkcj gkfu mBkuh iM+sxh D;ksafd ;gk¡ ij dher de vkSj ykxr vf/kd gS ysfdu
nh?kZdky esa ykHk dekus ds mís'; ls og gkfu mBkus dks rS;kj gSA nh?kZdky esa tc og oLrqvksa
dk mRiknu OX1 djrk gS rks ml le; mldh lk[k ds dkj.k lHkh mldh oLrq dks [kjhnrs
gS vkSj mldh ykxr AC1S vkrh gS vkSj dher P1R ysrk gS ftlls mls AC1P1RS ds cjkcj
nh?kZdky esa ykHk çkIr gksrs gSA
;g deZ vYidky esa de ls de bruh dher t:j olwy djuk pkgsxh rks mldh AVC
dks iwjk djrh gksA mlls de dher og olwy ugha djsxh rFkk ;g QeZ ;g Hkh ns[krh gS fd
nwljh Qeks± ds vkus dh laHkkouk fdruh gSa\ vxj Qes± ços'k dj ldrh gS rks de dher fu/
kkZfjr djsxh vkSj ;fn Qeks± ds ços'k ij çfrcU/k gS rks Å¡ph dher olwy dj ldrh gSA bl
çdkj Qes± dher fu/kkZfjr djrs le; cgqr lh ckrsa è;ku esa j[krh gSaA
vkykspuk,¡µ
1. Price dh lgh ek=kk fdruh gksxh tks QeZ dks vf/kdre ykHk çnku djsxh] vuqeku
ugha ykx;k tk ldrkA
2. vuqHko ds vk/kkj ij Hkfo"; esa fdlh oLrq dh ekax dk vuqeku ugha yxk;k tk
ldrkA
3. lhekUrokfn;ksa ds fl)kUr dks nwljs rjhds ls nksgjkrk gSA
la{ksi esa ge dg ldrs gS fd Prof. Hall & Hitch dk fl)kUr lEHkkfor dherksa esa ykxw
ugha gksrk gSA D;ksafd ;s vFkZ'kkL=kh dher dk fu/kkZj.k ogk¡ ij djrs gSaA tgk¡ ij
P > AVC + GPM gksrk gSA ftlesa NPM Hkh 'kkfey gksrk gS vkSj Net Profit Margin dk irk
djuk cgqr eqf'dy gksrk gSA
lhek&dher fu/kkZj.k dk fl)kUr 151
vè;k; 11
lhek&dher fu/kkZj.k dk fl)kUr
(LIMIT PRICING THEORY)
ifjp;
(Introduction)
dher fu/kkZj.k ds v/;;u esa ge vUrr% ml voLFkk esa igq¡p x;s gSa ftlesa ge dher
fl)kUr esa dqN uohu fopkjksa dh O;k[;k dj ldrs gSaA ,dkf/kdkj rFkk vYif/kdkj ds
ijEijkxr fl)kUrksa esa orZeku QesaZ ubZ QeksaZ ds lEHkkfor ços'k rFkk muds O;ogkj ,oa
çfrfØ;kvksa dh fpUrk ugha djrh gSaA iw.kZ çfr;ksfxrk] ,dkf/kdkfjd çfr;ksfxrk ds ekWMy esa ubZ
QeksaZ ds okLrfod ços'k dk orZeku QeksaZ ds mRiknu rFkk dher ij çHkko dk v/;;u fd;k
tkrk gSA fdUrq dwuksZ] cVSZªUM] ,toFkZ rFkk pSEcjfyu ds ijEijkxr vYif/kdkj ekWMy cUn
(Closed) ekWMy gSa D;ksafd muesa ugZ QkesaZ ds ços'k dh dksbZ O;oLFkk ugha gSA bu vYikf/kdkj
ekMy esa QeksaZ dh la[;k dks fLFkj eku fy;k x;k gS rFkk fojks/kh QeksaZ dh fØ;kvksa ds fo:)
orZeku QeksaZ dh çfrfØ;kvksa dh gh O;k[;k dh xbZ gSA gky gh esa] vusd vFkZ'kkfL=k;ksa çeq[k :i
ls csu (Basin), lkbyksl ykfcuh (Sylos- Lobini), ,.Mª;t w (Andrews), eksfnfX;kuh (Modigliani)
rFkk txnh'k Hkxorh (Jagdish Bhagwati) us rdZ çLrqr fd;k gS fd vYif/kdkjh cktkjksa esa
orZeku QeksaZ ds dher rFkk mRiknu ds fu.kZ; QeksaZ ds okLrfod ços'k (actual entry) }kjk gh
cfYd lEHkkfor ços'k (potential entry) }kjk Hkh çHkkfor gksrs gSaA
bu vFkZ'kkfL=k;ksa }kjk tks egÙoiw.kZ fo"k; mBk;k x;k gS og ;g gS fd vYif/kdkjh QesaZ
vYidkyhu ykHkksa dks vfèkdre ugha djrh gSA blds ctk;] os fLFkfRk dk vkSj vf/kd
nh?kZdkyhu n‘f"Vdks.k viukrh gS rFkk mu ubZ QeksaZ ds lEHkkfor ços'k dh n‘f"V esa nh?kZdky esa
ykHkksa dks vf/kdre djus dk ç;kl djrh gS tks ykHk dh lEHkkoukvksa dks çHkkfor djrh gSaA
viuh iFkçn'kZd d‘fr ‘ , uksV vku çkbflxa bu eksuksiksyh ,.M vksfyxksiksyh (1949) ’ rFkk
blh ds ckn viuh iqLrd ‘ cSfj;lZ Vq U;w dfEiVh'ku ’ (Barriers to New Competition) esa ts0
,l0 csu0 us lhek dher fu/kkZj.k fl)kUr çLrqr fd;k ftldk la{ksi esa vfHkçk; ;g gS fd QesaZ
vYidkyhu ykHkksa dks bl Hk; ds dkj.k vf/kdre ugha djrh gSa fd vYidky esa cgqr vf/kd
;k vlkekU; ykHk mu ubZ QeksaZ ds ços'k dks çsfjr djsxk tks muds ykHkksa dks nh?kZdky esa cM+h
ek=kk esa de dj nsxhaA muds vuqlkj vYif/kdkjh QesaZ vYidkyhu ykHk vf/kdre djus okyh
dhersa ugha fu/kkZfjr djsx a h cfYd blds ctk; vis{kkd‘r de dher olwy djsxh vkSj bl çdkj
m|ksx esa ubZ QeksaZ ds ços'k dks jksdsaxhA bl çdkj muds vuqlkj laHkkfor ços'k ds Hk; ds
egÙoiw.kZ dkj.k ls gh diVla/kk;h vYif/kdkj ds vUrxZr ,dkf/kdkjh dhersa olwy ugha dh
tkrh gSaA lhek dher fu/kkZj.k fl)kUr vFkok ços'k jksdus okyk dher fu/kkZj.k fl)kUr dks
lkbyksl ykfcuh] eksfnfXy;kuh rFkk txnh'k Hkxorh }kjk vkSj vf/kd fodflr fd;k x;k rFkk
lkekU; cuk;k x;k gSA orZeku v/;k; esa ge bu vFkZ'kkfL=k;ksa }kjk çLrqr lhek dher fu/kkZj.k
ekMyksa dh la{ksi esa O;k[;k djsaxsaA
lhek&dher fu/kkZj.k fl)kUr ds ewy rÙo% csu dk ekWMy (Basics of The Theory of
Limit Pricing: Bain’s Model)
csu dk lhek dher fu/kkZj.k fl)kUr diViw.kZ vYif/kdkj dh fLFkfr ls lacaf/kr gSA muds
fl)kUr dk dsUæh; fopkj lhek&dher dh /kkj.kk gSA lhek dher og vf/kdre dher gS tks
orZeku QesaZ ekurh gS fd ubZ QeksaZ ds ços'k dks vkdf"kZr fd;s fcuk os olwy dj ldrh gSaA vU;
'kCnksa esa lhek dher ços'k jksdus okyh dher gksrh gS (limit price is the entry preventing
price)A lhek dher fu/kkZj.k ds bl fo'ys"k.k esa casu ekurs gSa fd m|ksx esa igys gh lqLFkkfFkr
rFkk lEHkkfor QeksaZ ds inkFkZ le:i gksrs gSaA m|ksx ds inkFkZ dk fu/kkZj.kh; ek¡x oØ fn;k gqvk
gS rFkk tks orZeku QeksaZ }kjk dher le;kstu vFkok ubZ QeksaZ ds ços'k ds ifj.kkeLo:i dher
esa ifjorZu dh vof/k esa vifjofrZr rFkk fLFkj cuk jgrk gSA
diViw.kZ vYif/kdkjh ftl leL;k dk lkeuk djrs gSa] ;g gs fd lhek dher fdl Lrj
ij fu/kkZfjr dh tk; fd og ubZ QeksaZ ds ços'k dks jksdsA csu ds vuqlkj lhek dher (a) lEHkkoh
ços'kdÙkkvksa dh ykxr] (b) m|ksx ds inkFkZ ds fy, ek¡x dh yksp] (c) cktkj dk vkdkj vFkkZr
inkFkZ ds ek¡x dh ek=kk] (d) m|ksx esa çfrf"Br QeksaZ dh la[;k rFkk (e) nh?kZdkyhu ykxr oØksa
(LAC) dk Lrj ,oa vkdqfr }kjk fu/kkZfjr dh tkrh gSA js[kkd‘fr 30.1 lhek dher fu/kkZj.k
fl)kUr ds vko';d y{k.kksa dks Li"V djrh gSA DD diViw.kZ vYif/kdkj dk cktkj ek¡x oØ
rFkk MR rRlac/a kh lhekUr vk; oØ gSAa ekuk fd LACEF orZeku çfrf"Br diViw.kZ vYifèkdkfj;ksa
dh nh?kZdkyhy ykxr js[kk gSA pw¡fd LACEF fLFkj gS vr% LMC blds cjkcj gksxhA ;fn
diBiw.kZ vYif/kdkj vYidkyhu ykHk dks vf/kdre djuk pkgrk gS rks og LACEF ¼tks
LMCEF ds leku gS½ rFkk lhekUr vk; oØ ds çfrPNsn fcanq ls lacaf/kr dher fu/kkZj.k djsxkA
js[kkd‘fr ls ;g Li"V gS fd ;g vYidkyhu ykHk dks vf/kdre djus okyh dher Pm ¼tks
,dkfèkdkjh fder gS D;ksafd ge diViw.kZ vYif/kdkj dh fLFkfr ij fopkj dj jgs gSa½A fdUrq
;g vYidkyhu ykHk dks vf/kdre djus okyh dher Pm lEHkkfor ços'kdÙkkZ QeksaZ dh nh?kZdky
vkSlr ykxr LACPE dh vis{kk vf/kd gSA ifj.kkeLo:i Pm dher m|ksx esa ubZ QeksaZ ds ços'k
dks vkdf"kZr djsxhA ubZ QeksaZ ds ços'k ls iqjkuh QeksaZ dks cktkj ek¡x ds ,d Hkkx dks gkfu gksxh
ftlds dkj.k vudk ek¡x oØ ck;ha vksj foofrZr gks tk;sxkA bl çdkj m|ksx esa ubZ QeksaZ ds
ços'k ds ifj.kkeLo:i QesZa vius inkFkZ dh ek¡x ds ckjs esa vfuf'prrk dk lkeuk djrh gSA
fp=k 1.
vc ;fn os lEHkkoh ços'kdÙkkvksa dh nh?kZdkyhu vkSlr ykxr ds cjkcj PL dher

fuèkkZfjr djrh gSa rks inkFkZ dh Q2 ek=kk cspsaxhA lqLFkkfir diViw.kZ vYif/kdkjh vc Hkh ykHk
lhek&dher fu/kkZj.k dk fl)kUr 153
vftZr djsaxs D;ksafd PL dher mudh nh?kZdkyhu vkSlr ykxr LACEF dh vis{kk vf/kd gSA
rFkkfi ;g m|ksx esa ços'k djus okys lEHkkoh fojksf/k;ksa ds fgr esa ugha gksxk D;ksafd PL dher
mudh mRiknu dh vkSlr ykxr ds cjkcj gSA ;fn os m|ksx esa ços'k djrs gSa rks inkFkZ dh iwfrZ
esa o‘f) gksxhA ;fn lEHkkoh QeasZ m|ksx esa ços'k djrh gSa rks mUgsa gkfu gksxh tks mUgsa PL dher
ij ços'k djus ls jksdrh gSA vr% PL dher dks lhek dher (Limit Price) dgk tkrk gS D;ksafd
;g og dher gS tks lqLFkkfir iqjkuh QesaZ ços'k dks çsfjr fd;s fcuk olwy dj ldrh gSaA ;g
/;ku nsus ;ksX; gS fd lhek dher PL gksus ij lEHkkoh ços'kdÙkkvksa ds foijhr lqLFkkfir iqjkuh
QesaZ ykHk vfTkZr dj jgh gSa fdUrq çfr bdkbZ ykHk dh lhek C1PL ;k C1C2 ml fLFkfr dh rqyuk
esa de gS ;fn os ,dkf/kdkjh dher olwy djrs gksrsA
;g mYys[kuh; gS fd lhek dher ços'k esa vojks/k (barriers to entiry) ds vfLrRo ls
lacaf/kr gSA gekjs fo'ys"k.k esa lqLFkkfir iqjkuh QeksaZ dh rqyuk esa lEHkkoh QeksaZ dh vf/kd vkSlr
ykxr gh muds ços'k esa vojks/k dk dk;Z djrh gSA vkSj lqLFkkfir QeksaZ dh çfr bdkbZ de
mRiknu ykxr gh lhek dher ij Hkh mUgsa ykHk vfTkZr djuk lqfuf'pr djrk gS rFkk bl
çdkj ubZ QeksaZ ds ços'k dks jksdus esa lQy cukus dks Hkh lqfuf'pr djrk gSA iqjkuh QesaZ dqy
C1C2AB ds cjkcj ykHk vftZr dj jgh gSa tks vYidkyhu vf/kdre ykHk C1PmHE dh vis{kk
de gSaA QesaZ dqN vYidkyhu ykHkksa dk ifjR;kx dj jgh gSa D;ksafd os vk'kk djrh gSa fd ços'k
fojks/kh ;q)uhfr dh lgk;rk ls nh?kZdky esa vis{kkd‘r vf/kd ykHkktZu ds }kjk mudh mlls
vf/kd {kfriwfrZ gks tk;sxhA
csu (Bain) ds lhek dher fu/kkZj.k fl)kUr dk ,d egÙoiw.kZ igyw ;g gS fd bldh
lgk;rk ls csu us dqN m|ksxksa esa&vYikf/kdkjh QeksaZ dh dherksa dks ek¡x ds ml Lrj ij j[krs
gq, muds voyksfdr rÙoksa dh O;k[;k djus dk ç;kl fd;k ftl ij ek¡x dh dher yksp
bdkbZ ls de FkhA js[kkd‘fr ij ,d utj Mkyus ls Li"V gksxk fd ;fn lEHkkfor ços'kdÙkkZ QeZ
dh vkSlr ykxr OJ gS rks lhek dher bl Lrj ij fu/kkZfjr gksxhA blds vfrfjDr ;g Hkh ns[kk
tk ldrk gS fd fn;s gq, ek¡x oØ DD ij OJ dher gksus ij ek¡x dh dher yksp bdkbZ ls
de gS D;ksafd ;g js[kh; ek¡x oØ DD ds e/; fcanq ds uhps ds fcanq ls lacaf/kr gS rFkk vkSj Hkh
ns[kk tk ldrk gS fd bl dher ij lhekUr vk; +_.kkRed gSA csu ds vuqlkj lEHkkfor QeZ
ds ços'k dks jksdus ds fy, vYif/kdkjh lhek dher OJ ij fu/kkZfjr dj ldrs gSa D;ksafd ;g
vc Hkh mudh mRiknu dh vkSlr ykxr (C1) dh vis{kk vf/kd gS vkSj blfy, os bl dher
ij Hkh ykHk dks çksRlkfgr djus ds fy, ços'k vojks/k ;q)uhfr dks viukuk muds lokZf/kd fgr
esa gS rks os bu ifjfLFkfr;ksa ds vUrxZr lhek dher dks OJ Lrj ij fu/kkZfjr djsaxsA
csu ds lhek dher fu/kkZj.k fl)kUr dk vU; jkspd y{k.k ;g gS fd ;fn cktkj ek¡x
rFkk ykxr dh n'kk,¡ bl çdkj gSa fd ,dkf/kdkjh dher ¼vFkkZr~ vYidkyhu ykHk dks
vfèkdre djus okyh dher½ lhek dher dh vis{kk de gS (Pm < PL) rks vYikf/kdkjh vius
vYidkyhu ykHk dks vf/kdre djus ds fy, ,dkf/kdkjh dher olwy djsaxs D;ksafd ;g ços'k
dks Hkh jksdsxk rFkk nh?kZdkyhu vf/kdre ykHk dks lqfuf'pr djsxkA
ços'k esa vojks/k rFkk lhek dher (Barriers to Entry and Limit Price)
viuh ckn dh d‘fr ^cSfj;lZ Vq ,UVªh* (Barriers to Entry') (1956) esa csu us O;k[;k dh
fd vYikf/kdkjh iw.kZ çfrLi/khZ dher dh vis{kk dher D;ksa fu/kkZfjr djrs gSaA muds vuqlkj
ços'k esa vojks/k gksus ds dkj.k lhek dher çfrLi/khZ dher dh vis{kk vf/kd fu/kkZfjr dh tkrh
gSA csu dh lhek dher&fu/kkZj.k ds fo'ys"k.k esa ,d QeZ rc ços'k djrh gS tcfd m|ksx esa
ços'k djus okyh ubZ QeZ ,d ,slh ubZ mRiknd {kerk dk fuekZ.k djrh gS ftldk mlds ços'k
vè;k; 12
cgq mRikn dher fu/kkZj.k
MULTI PRODUCT PRICING
mRiknu dher fu/kkZj.k ds fy, cgqr ls vFkZ gS&a 'kkfL=kk;ksa us vius&2 fl)kUr ;k fopkj çLrqr
fd, gSAa ysfdu muds fl)kUr iw.kZ ugh gS rFkk os dsoy ,d oLrq ds mRiknu dh dher dk fuèkkZj.k
djus dh dksf'k'k djrs gSaA ysfdu ge ;gk¡ Multi Product Pricing dh O;k[;k djsxsa vkSj okLrfod
thou esa Hkh QeZsa ;k dksbZ Hkh dEiuh ,d gh oLrq dk mRiknu ugha djrh gS cfYd ,d lkFk cgqr
lh oLrqvksa dk mRiknu djrh gS rFkk og viuh ykxr ds ykHk ds vk/kkj ij oLrq dh dher dk
fu/kkZj.k djrh gSA
;fn ,d QeZ ,d ls T;knk çdkj dh oLrqvksa dk mRiknu djrh gS rc og miuh oLrqvksa dh
dher fdl çdkj r; djsa ftlls og viuh bfUNr y{; dks çkIr dj ldsaA okLro esa dksbZ Hkh
QeZ ,d oLrq dk mRiknu ugha djrh cfYd dbZ oLrqvksa dk mRiknu djrh gSA mRiknu dk vkdkj
Hkh fHkUu&2 gksrk gS vkSj blds jax] cuokV Hkh fHkUu&2 gksrh gS tSls ek:rh dEiuh dh dkjA ;fn
cgq mRiknu QeZ gS ftlds fy, vius mRiknu dh lhekUr ykxu viuh cgqr dfBu dke gS og dSls
vius mRikn dh dher dh fu/kkZj.k djsxhA mlds fy, fuEu O;ogkfjd n‘f"Vdks.k gS %&
1. çfr'kr dqy ykxr fof/k (Prices which are propartional to full cost)- bl fofèk
ds }kjk ,d mRiknd vius }kjk mRikfnr oLrq dh dher fu/kkZj.k djus ds fy, mRikfnr oLrqvksa
dh dqy ykxr dks tksM+dj rFkk ftruk ykHk og dekuk pkgrk gS mldks tksM+dj dher fu/kkZj.k
djrk gSA
mnkgj.k ds fy, lkcqu dEiuh dks lkcqu cukus dh ykxr tks nks çdkj ds mRikn cukrh
gS %& A and B
A B
dPps eky dh ykxr = 2 :0 1 :0
etnwjh dh ykxr = 1 :0 1.50 :0
vU; ykxr = 50 iSls 1 :0
dqy ykxr = 3.50 : 0 3.50 : 0
;fn og ysrk Profit 10% gS rks og fuEufyf[kr dher r; djsxk rks mls 3.85 :i;s çkIr
gksxsaA
gkfu %&
1. QeZ dh mRikn dh vU; ykxrs vkSj etnwjh ykxr dk lgh vuqeku ugha yxk ldrhA
2. dher fu/kkZj.k djrs le; fdl mRikn dh ekax T;knk ;k de gS mldh rjQ /;ku ugha
fn;k x;kA
3. oLrq dh vk; yksp o dher yksp dks /;ku esa ughsa j[kk x;kA
2. lao‘f) ykxr ds vuqikr ds vk/kkj ij dher r; djuk (Prices which are propor-
− blh fof/k ds }kjk ,d QeZ dks fdlh oLrq ds mRiknu esa eq[;
tional to incremental cost )−
cgq mRikn dher fu/kkZj.k 161
ykxrsa fdruh gksxh blds ,d fuf'pr % ds :i esa ykHk dks 'kkfey djds dher dk fuèkkZj.k
djrk gSA blesa ge vU; ykxrsa ugha tksM+rs tSls lkcqu rS;kj djrh gSA
A B
etnwjh ykxr = 1.00 :0 1.50 :0
vU; ykxr = 0.50 :0 1.00 :0
Conversion Cost = 1.50 :0 2.50 :0
90% ykHk dekuk pkgrh gS or ;fn og viuh Conversion Cost 90% ysuk pkgrh gS rks mldh
Prices fuEu gksxh %&
A mRikn dh dher = 2.85 :0
B mRikn dh dher = 4.75 :0
gkfu ¼voxq.k½ %
1. ekax o dher rFkk vk; yksp dh rjQ /;ku ugha fn;k x;kA
2. gekjs }kjk r; fd;k x;k ,d fuf'pr % conversion ykxr dk Hkkx gks ldrk gS fd
mRikn ij dPps eky dh ykxr dks iwjk Hkh yk djrk gksA
4. oLrq dh ekax yksp ds vuqlkj dher r; djuk (Prices which contribution
margen depending up on the elasticity of demand of different market sector)—
bl fof/k ds vuqlkj ;g ns[kk tkrk gS fd QeZ dk ;g mRikn fdl oxZ ds fy, cuk;k tk jgk
gS vFkkZr ml mRikn dks dkSu lk oxZ Use dj jgk gSA mlh dks ns[krs gq, ge mRikn dh dher
dks r; djsaxsA ;fn mRikn dk ç;ksx /kuh oxZ }kjk fd;k tkrk gS rks ge % Profit T;knk j[ksaxsA
D;ksafd T;knk vk; okys O;fDr dherksa dks egRo ugha nsrsA bl fof/k dk ç;ksx 1979 esa ,d
vesfjdu dEiuh us Use djds Profit dek;k FkkA
gkfu %&
gj T;knk vk; okyk O;fDr dher dks egRo u ns ;g O;kogkfjd ugha gSA
5. mRikn dh voLFkk dks /;ku esa j[krs gq, dher r; djuk (Price related to the
stage in the life cycle of the product)—bl fof/k ds }kjk ge ;g /;ku nsaxsa fd gekjk
mRikn fdl voLFkk esa gS tSls %&
1. igyh volFkk ¼,dkf/kdkj voLFkk½µ
voLFkk½µbl voLFkk esa ,d gh çdkj mRikn cukuk vkrk
gSA ,sls le; ykxr esa vf/kd ykHk tksM+dj dher r; djuh pkfg,A
2. e/;koLFkkµ
e/;koLFkkµtc ml mRikn dks cukus okyh vU; QeZas Hkh cktkj esa vk xbZ gS rks ykxr
esa ykHk dk vuqikr de j[kdj dher r; djuh pkfg, ftlls T;knk ls T;knk ykHk dek;k tk
ldsA
3. vfUre voLFkkµ
voLFkkµtc ,d gh mRikn dks cukus okyh vusd QesZa gks rks mls ykxr esa ykHk
dk de ls de % yxkdj dher r; djuh pkfg,A
fu"d"kZµvkt rd dksbZ Hkh ,slh loZekU; fof/k ugha gqbZ gS ftlds vk/kkj ij ,d cgq mRikn
dk mRiknu djus okyh QeZ rdZ ds vk/kkj ij fu.kZ; ys lds fd mlds }kjk mRikfnr fofHkUu
mRiknksa dh dher D;k gks tks mldks vfèkdre ykHk ns ldsA ;g Hkh fookn dk eqík cuk gqvk
gS fd QeZ dk mís'; D;k gksuk pkfg, vkSj dkSu ls dky esa mldk ykHk vf/kd gksA dqN QeZ
vYidky esa rks dqN QeZ nh?kZdky esa ykHk dks vf/kdre djuk pkgrh gSA
bl çdkj dg ldrs gSa fd fofHkUu QesaZ vius mRikn dh dher fofHkUu vk/kkj ij r;
djrh gSA
vè;k; 13
oS/kkfud dher
SATUTORY PRICING
oS/kkfud dher og fder gksrh gS tks ljdkj }kjk LFkkfir ,d deh'ku ¼lfefr½ }kjk
r; dh tkrh gSA lkekU; oLrqvksa lEcU/kh Hkkjr esa yksgk] bLikr] dikl] phuh] dkxt] ekfpl]
ued o vukt vkfn ij bldh dhersa r; dh tkrh gSA Hkkjr esa ;s dhersa bl le; Beuro
¼C;wjks½ of Investment cost and Price conversion or aggregate cost and price concersion
}kjk r; dh tkrh gSA
dher r; djus dh fof/k fuEu gS %&
(i) ykxrksa dk fu/kkZj.k %& fdlh oLrq dh dher r; djrs le; og deh'ku ml oLrq
ij vkus okyh ykxrksa ds ckjs esa v/;;u djrh gSA
(ii) ykHk dk fu/kkZj.k %& ;g laLFkk ;g Hkh r; djrh gS fd bl oLrq ds mRiknd dks
de ls de fdruk ykHk feyuk pkfg,] tks lgh gksA
(iii) çcU/kdh; ,stsUV deh'ku %& ljdkj ;g Hkh ns[krh gS fd ml oLrq dks mRiknd
ls miHkksDrk rd igq¡pkus okyh QeZ dk de ls de fdruk deh'ku gksuk pkfg,A bl çdkj
ljdkj t:jh oLrqvksa lEcU/kh ,d laoS/kkfud dher r; djrh gS ftlls mRiknd o miHkksDrk
nksuksa dh nh?kZdky esa ykHk igq¡pkrk gSA
O;k[;kµ
O;k[;kµtc ljdkj dks ;g eglwl gksrk gS fd mRiknd dks ;fn [kqys cktkj ds Hkjksls
NksM+ fn;k tk, rc ;k rks mRiknd dks ijs'kkuh mBkuh iM+ ldrh gS ;k miHkksDrk 'kks"k.k dk
f'kdkj gks ldrk gSA ml oDr ljdkj ,d laoSèkkfud dher r; djrh gS tks mRiknd vkSj
miHkksDrkvksa dks lgh fgLlk fnykus esa lgk;d gksrh gSA
dher de ;k T;knk ljdkj nks dkj.kksa ls djrh gS %&
(i) mRiknd dh lgk;rk ds fy,
(ii) miHkksDrk dh lgk;rk ds fy,
oS/kkfud dher dk fu/kkZj.k %µ
fp=k 1.
oS/kkfud dher 163
js[kkfp=k ls Li"V gksrk gS fd OP dher oS/kkfud dher gksxhA ftl ij mRiknd rFkk
miHkksDrk nksuksa lUrq"V gksxsaA D;ksafd e fcUnq ij ekax rFkk iwohZ oØ nksuksa ,d nwljs dks dkVrs
gSa blfy, ;g lUrqyu dk fcUnq gksxkA vxj dher OP1 fu/kkZfjr dh tkrh gS rks blls mRiknd
dks YkkHk gksxk vkSj miHkksDrk dks 'kks"k.k gksxk D;ksafd mUgsa FkksM+h ek=kk ds fy, vf/kd dher
pqdkuh iM+sxhA nwljh rjQ vxj dher OP2 fu/kkZfjr dh tkrh gS rks blls miHkksDrk dks Hkh
ykHk gksxk vkSj mRiknd dks gkfu gksxhA ysfdu OP dh dher oS/kkfud dher gksxh vkSj bl
ij nksuksa lUrq"V gksaxsaA
(1) Statutory Pricing fu/kkZj.k djus lEcU/kh fnDdrsaµljdkj ds fy, nsfh dher dk
vuqeku yxkuk eqf'dy gksrk gS tks mRiknd rFkk miHkksDrk nksuksa ds fy, lgh gksrk gSA
(2) ykxrksa dk fu/kkZj.kµ
.kµljdkj tks dher fu/kkZj.k djrh gS] mlesa ykxrsa Hkh 'kkfey
gksrh gSaA ysfdu ljdkj }kjk ykxrksa dk lgh vuqeku ugha yxk;k tk ldrkA og dsoy tks
mRikn ij ykxrsa vkrh gSa mUgha dks /;ku esa j[kdj fu/kkZfjr djrh gSA ysfdu og mRiknu ds
Labour dks /;ku esa ugha j[krkA
(3) mRiknd ds ykHk dk fu/kkZj.kµ .kµljdkj }kjk ;g r; djuk fd fdl mRiknd dks
fdruk ykHk feyuk pkfg,] cgqr dfBu gSA
(4) ,stsUV ds deh'ku dk fu/kkZj.kµ .kµ,tsUV ds deh'ku dk fu/kkZj.k ljdkj fdlh
Specific fu;e ds rgr ugha djrh fd çcU/kdh; ,stsUV dks fdruk deh'ku feyuk pkfg,A
(5) dbZ oLrqvksa ij ;g uhfr Qsy lkfcr gksrh gSA tSls fgekpy esa lsc ls lEcfU/kr]
gfj;k.kk iatkc esa xsgq¡ ls lEcfU/kr tks miHkksDrk dks nsus okyh Quality de gks tkrh gSA
lkjka'kµ
kµla{ksi esa ge dg ldrs gSa fd ljdkj dks dqN vko';d oLrqvksa vkSj dherksa ij
fu;U=k.k j[kuk pkfg, ftlls vko';d oLrqvksa dk miHkksx djus okys miHkksDrkvksa rFkk mu
oLrqvksa dk mRiknu djus okus mRikndks dks Hkfo"; ds ckjs esa fpark u jgsA
UNIT—III
vè;k; 14
iwath ctVu dh çÑfr vkSj leL;k,a
NATURE OF CAPITAL BUDGETING PROBLEM
iwath ls gekjk vfHkçk; euq"; }kjk fufeZr oLrq tSls& e'khu] bZekjr vkfn ls gS ftlls
nh?kZdky esa ;k Hkfo"; esa mRiknu esa lgk;rk feyrh gSA iwath dh mRikndrk bl ckr ij fuHkZj
djrh gS fd mldk ç;ksx dgka fd;k tk,A ,d foosd'khy mRiknd ges'kk bl ç;kl esa jgrk
gS fd viuk /ku bl çdkj ds {ks=k esa yxk, ftlls oks Hkfo"; esa T;knk ls T;knk ykHk çkIr dj
ldsA iwath ctVu esa ge mRiknd ds nh?kZdky iwath lEcU/kh fuos'k ds çfr fu.kZ; ysus esa ç;ksx
fd, tkus okys lk/kkj.k dneksa dh O;k[;k djrs gSaA
iwath lEcU/kh O;kolkf;d fu.kZ; ysuk dkQh tfVy dk;Z gksrk gS fd fdl çdkj dh gks]
fdruh ek=kk esa ubZ iwath dks yxk;k tk,] /ku dks fdruh ek=kk ewY;àkl ds fy, j[ksa vkSj fdl
le; og iwath yxkuh pkfg,A
çcU/kd }kjk fdlh {ks=k dh iwath dk vuqeku yxkus fu.kZ; ysus vkSj QeZ ds fn, gq,
mís'; çkIr djus ds fy, fdlh ,d {ks=k ds pquko djuk iwath ctVu }kjk vklku dks tkrk
gSA
iwath ctVu
ctVuµÞnh?kZdky esa fuos'k djus ds fy, ,d foosd'khy {ks=k dk pquko djuk tks
vf/kdre ykHk çnku djrk gks iwath ctVu dgykrk gSAß
Nature of Capital Budgeting and Problems
1. iwath [kpZ dh ifjHkk"kk %& iwath ctVu esa iwath dk vFkZ nh?kZdky fuos'k ds fy, [kpZ
fd, tkus okys /ku ls gS] ftudks vYidky esa O;ofLFkr ughsa fd;k tk ldrkA iwath ctVu esa
lekU;r;k og [kpZ 'kkfey fd;k tkrk gS tks ,d o"kZ dh vof/k ;k mlls T;knk vof/k ds fy,
fd;k tkrk gSA iwath ctVu esa 'kkfey fd, tkus okys QeZ ds [kpsZ%&
(i) ubZ iwath midj.kksa ij [kpZ
(ii) ubZ QeZ }kjk mRikfnr dh xbZ nh?kZdkyhu lEifÙk
(iii) orZeku iwath LVkWd esa o‘f) djus ij [kpZ
(iv) ewY;àkl iwath dks cnyus ij [kpZ
(v) mu foKkiuksa ij [kpZ ftuls nh?kZdky esa QeZ dh vk; esa o‘f} gksrh gSA
(vi) QeZ }kjk vuqla/kku vkSj fodkl ij [kpZA
2. ;kstukdky dk fu/kkZj.k %& iwath [kpZ esa cgqr Å¡ps Lrj dh vfuf'prrk ikbZ tkrh gSA
ml vfuf'pprk dks de djus ds fy, QeZ ,d ;kstuk cukrh gSA
iwath ctVu dh çÑfr vkSj leL;k,a 165
,d vPNh ;kstuk ds rRo %&

(A) çHkkoiw.kZ] fØ;kUou vkSj fu;U=k.k gksA
(B) iqjkuh ;kstukvksa ds lkFk rky&esy LFkkfir fd;k tk, vkSj Hkfo"; esa QeZ ds ykHk
dks /;ku esa j[kk tk,A
(C) lgh iSekus dh cprksa dks /;ku esa j[kdj ;kstuk dk fu/kkZj.kA]
(D) lgh foÙk çcU/k ds fy, ;kstuk cukuk vkSj le; ij foÙk dk çcU/k djukA
3. Choice of Decision rule ¼fu.kZ; ysus okys fu;eksa dk pquko½µ
ko½µ,d Project dk
fofHkUu lel;k gS fd fdl Project dks pquk tk, o fdls NksM+ fn;k tk,A lkekU;r % blds
fy, ge pkj fof/k;ksa dk v/;;u djrs gSa tks fdlh çcU/kd dks ;g fu.kZ; ysus esa lgk;rk nsrs
gsa fd dkSu lk Project ykHknk;d gSA ;s fof/k fuEu gS %&
(A) Present Value Criteria
(B) Net Present Value
(C) Internal rate of return Method
(D) Pay back period Method
tc ge fdlh fof/k dks pqu ysrs gSa rks Final Project dk pquko djus ds fy, nks fof/
k;ka gSa tks fuEu gSa %&
(A) Accept reject Approach
(B) Ranking Approach
4. Collection of Necessary Data ¼vko';d vkadM+ksa dks bdV~Bk djuk½µ
(A) Market rate of Inserest ds vkadM+s ,df=kr djukA
(B) Project dh iwath ykxr D;k gksxh blds ckjs esa vkadM+s ,df=kr djukA
(C) fofHkUu oSdfYid ds vkadM+s ,df=kr djukA
lkjka'k %& fdl iwath ij dSlh Plan ds rgr dkSu lh fof/k ls fofHkUu ds ckjs esa fu.kZ;
ysuk vkSj ysus ls igys vkadM+ks dks bdV~Bk djuk rFkk Project dk pquko djuk tks loZJs"B gks]
iwath ctVu esa 'kkfey fd;k tkrk gSA
vè;k; 15
fuos'k dk ewY;kadu
INVESTMENT DECISION
,d QeZ ds ikl cgqr ls oSdfYid fuos'k {ks=k gksa ftuesa ls mldks fdlh ,d dk pquko
djuk iM+rk gS rks QeZ ;g dSls r; djs fd mu fofHkUu fuos'k {ks=kksa esa ls lcls vPNk fuos'k fdl
{ks=k esa gksxkA lkekU;r % ,d QeZ ;g fu.kZ; nks çdkj ls djrh gS %&
1. tgka ykHk dh nj vf/kdÙke gS (Probability)
2. fuf'prrk vkSj tksf[ke (Cretanity & Risk)
Investment Devision :- ge ;g dSls fu/kkZfjr djssa fd dkSu ls Project esa vf/kdre
Probability vkSj U;wure Risk gks bl çfØ;k dks fuos'k ewY;kadu dgrs gSAa bldks ekius dh fof/
k;ka fofHkUu gSaA
1. Payback Period Method
2. Present Value Method (P.V.Method)
3. Net Present Value Method (N.P.V.)
4. Internal Rate of Return Method (I.R.R.)
1. Payback Period Method :- bl fof/k }kjk ;g ns[kk tkrk gS fd ftl Project esa
ge ftruk fuos'k dj jgs gSaA og gesa okfil fdrus o"kksZ esa çkIr gks tk;sxkA ftruk tYnh gesa
ml Project ij yxk;k iSlk okfil feyrk gS ogha Project T;knk vPNk gksrk gSA
Project [kpkZ vk; çfr o"kZ PBP Ranking Accept/Reject
A 20,000 4,000 5 o"kZ Second Rej.
B 50,000 8,000 6 ¼ o"kZ Third Rej.
C 40,000 6,000 6.8 o"kZ Fourth Rej.
D 40,000 10,000 4 o"kZ First Accept
fofHkUu Project dk ewY;kadu Pay Back Period Method ls djus ij lcls vPNk Project
D ekywe gksrk gSA çkstDV ds pquko ds fy, gekjs ikl nks fof/k;k gS %&
(i) Accept-Reject Approach :- blesa ge tks Project gesa vPNk yxrk gS mldk
pquko djds mlesa fuos'k djrs gSa vFkkZr ml Project dks Accept vkSj ckdh dks Reject dj nsrs
gSa ;k R;kx nsrs gSaA bu fofHkUu Projects esa ls ge D sdks Accept vkSj ckdh dks reject dj nsaxsA
(ii) Ranking Method :- bl Method esa gesa tks Project vPNk yxsxk mls Ist rank vkSj
mlls nwljs dks second rank blh çdkj lcls ?kfV;k Project dks last rank nsaxsA bu Projects
essa ge dks Ist rank, A dks Second, B dks Third vkSj C dks Fourth rank nsaxsA
fuos'k dk ewY;kadu 167
Pay Back Period Method dh fo'ks"krk,a %&

(i) ;g risk vkSj ykHk dh nh nksuksa dk lekos'k gSA
(ii) ;g Project dh çfro"kZ vk; ls lh/ks rkSj ij Li"V fu.kZ; ysus esa lgk;d gSA
(iii) ;g Project bl ekU;rk ij vk/kkfjr gS fd QeZ tks Project fuos'k djsxh mlls
çfro"kZ vk; fdruh gksxhA ;g vuqeku yxk;k tk ldrk gSA
(iv) Li"V vkSj ljy fof/k gS tks vke O;fDr ds vklkuh ls le> esa vk tkrh gSA
vkykspuk,a %
(i) fdlh Hkh Project dks 'kq: djus ij mldh dsoy 'kq:vkrh ykxrsa gh ugha vkrh cfYd
mls ckn esa Hkh fuos'k djuk iM+rk gSA ftudk ;g fof/k v/;;u ughsa djrhA
(ii) çR;sd Project ls ;g vuqeku ugha yxk;k tk ldrk fd mlls çfro"kZ vk; fdruh
o"kZ esa Cash gks tk,xkA ;g ykHk dh nj dks ugha crkrkA
(iii) bl fof/k ds rgr dsoy bl ckr dk irk pyrk gS fd gekjk 'kq:vkrh fuos'k fdruh
o"kZ esa Cash gks tk,xkA ;g ykHk dh nj dks ugha crkrkA
(iv) bl fof/k esa dsoy ;g ns[kk tkrk gS fd Project dh vk; dks olwy gksus esa fdrus o"kZ
yxsxa s cfYd vk; ds lkFk çca/kd dks ;g Hkh ns[kuk gksrk gS fd Project ls ykHk fdruk
gksxkA
(v) ;g fof/k ftruh vklku gS mruh gh vLi"Vrk ij vk/kkfjr gSA
2. Present Value Method (P.V.) - ;g fof/k fuos'k ewY;kadu laca/kh lgh fu.kZ; ysus
esa l{ke gS D;ksafd bl fofèk ds rgr bl ckr dh vksj /;ku fn;k tkrk gS fd fdlh Hkh Project
esa fuos'k igys gksrk gS vkSj mlls çkIr gksus okyh vk; esa le; yxrk gSSA vyx&vyx Project
esa le; Hkh vyx&vyx yxrk gSA bl fof/k esa bl ckr ij /;ku fn;k tkrk gS fd orZeku essa
fdl Project ds vk; vf/kd gksxhA
Project çfro"kZ vk; Time P.V. Ranking Accept/Reject
A 5,000 3 12434 Second Reject
B 8,000 2 13884.9 First Accept
C 10,000 1 9090.90 Third Reject
FV
PV = C;kt dh nj = 10%
(1 + r) t
5000 5000 5000

P.V.(a) = + 2
+
(1+ 0.1) (1 + 0.1) (1 + 0.1) 3
y = Income
r = rate of Intt.
500 0 500 0 50 00
= + +
2
11 / 10 (11 / 1 0) (11 / 10) 3
= 5000 × 10/11 + 5000 × 100/121 + 5000 × 1000/1331

= 4545.45 +4132.23 + 3756.56
= 12434.21
8000 8000
P.V.(b) = +
(1 + 0.1) (1 + 0.1) 2
= 8000 × 11/10 + 8000 × 100/121
= 7272 +6611.57 =13884.29
10000
P.V.(c) = = 9090.90
(1 + 0.1)
fo'ks"krk,a %&
(i) Hkfo"; dh vk; orZeku ds vk/kkj ij tkaprk gSA
(ii) çkstDV ls feyus okyh dqy vk; dk vk/kkj gSA
(iii) ;g rF;ksa scientific dh tkaprh gqbZ orZeku vk; dks /;ku j[krh gSA
(iv) ;g lk/kkj.k fof/k gSA
vkykspuk,a %&
(i) dsoy 'kq:vkrh ykxr ns[krsa gSa vkSj oks Hkh leku ekudj pyrs gSaA
(ii) Hkfo"; dh vk; ds ckjs esa r; djuk C;kt dh nj discount djuk nksuksa dh ekU;rkvksa
ij vk/kkfjr Concept
gS D;ksafd C;kt dh nj Hkh cnyrh jgrh gS vkSj Hkfo"; esa feyus okyh vk; ds ckjs
esa irk yxkuk vlEHko gSA
(iii) fofHkUu çkstsDV ls fofHkUu lkyksa esa fdruh&2 vk; gksrh gS vkSj fdrus o"kZ og çkstDV
de djsxk ;g dqN Hkkokxr rRo ij fuHkZj djrs gSaA
3. Net Present Value Method (NPV) :- ;g fof/k fuos'k fu.kZ; ysus ds fy, lokZasÙke
fof/k gSA blesa ge çkstDV ls feyus okyh vk; dh orZeku Value vkSj ykxr nksuksa dks /;ku esa
j[kdj fu.kZ; ysrs gSaA bl fof/k }kjk fy, x, fu.kZ; Pay Back Period Method vkSj Present
Value Method ls larks"ktud gSaA
Formula :- NPV = PV - C
Net Present Value = Present Value - Cost
ftl Project esa NPV T;knk vPNk gksrh gSa og Project ekuk tkrk gS ftl Project dh
NVP de gksrh gS og ?kfV;k Project ekuk tkrk gSA bl fof/k dks fHkUu&fHkUu çdkj ls fuos'k
fu.kZ; ysus ds fy, ç;ksx fd;k tkrk gSA
(i) tc dsoy Project dh fLFkj ykxrsa gksa vkSj vk; fofHkUu o"kksZ esa çkIr gksrh gksaA
(ii) tc Project esa ykxr&fLFkj $ ifjorZu'khy nksuksa gksa vkSj vk; fofHkUu o"kksZ esa gksrh
gSA
(i) tc Project dh ykxr fLFkj gks vkSj vk; fofHkUu o"kksZ esa gksrh gSSA
Project çfro"kZ fLFkj ykxr igys o"kZ vk; nwljs o"kZ vk;
A 18,000 10,000 12,000
B 15,000 8,000 10,000
feJ/ku = ew0 (1+r) le;

FV = PV. (1 + r)t
FV
PV =
(1 + r) t
n
FV
TPV =
i = 1 (1 + r)t
ge tkurs gS fd
Net Present Value (NPV) = TPC − TC
Project A dh NPV dk vuqeku
10000 12000
+
TPVA =
F
G 10 I F 10 I
H 100 J
KG J
1 2
1+
H
1+
100 K
TPVA = 9090.90 + 9917.35
NPV A = 19008.25 − 18000
= 1008.25
NPV A = 1008.25
Project B dh N.P.V dk vuqeku
8000 10000
TPVB = +
1.1 1.21
= 7272.72 + 8264.36
= 15537.18
NPV B = PVB − C
= 15537 − 15000 = 537
Project NPV Accept/Reject Ranking
A 1008 Approach Approach
B 537 Accept Ist
Reject IInd.
(ii) tc Project esa ykxr = fLFkj + ifjorZu'khy nksuksa gksa vkSj vk; Hkh fofHkUu o"kksaZ esa
gksrh gSA
ΣRn (n )
NPV = −
n
(i + r) i = 1 (1 + r) n
C Y Year
50000 0 0 year
10000 20000 Ist year
10000 20000 II year
—— 20000 III year
Rn 20000 20000 20000 20000

= + + +
i =1 (1 + r) n F1 + 10 I F1 + 10 I F1 + 10 I F1 + 10 I
1 2 3 4
G
H 100J KGH 100 J KGH 100 J KGH 100J K
= 18181.81 + 16528.92 + 15037.5 + 13888
= 63637.03
C C0 C1 C2
= n
= 0
+ 1
+
i=o (1 + r) (1 + r) (1 + r) (1 + r) 2
5000 10000 10000

= + +
0 1.1 1.21
TPC = 50000 +9090.9 +8264
= 67355.36
NPV = TPV − TPC
= 63637 − 67355
= −3718.36
fo'ks"krk,a %
(i) ;g Method orZeku vk/kkj dks egRo nsrk gSA
(ii) PBP vkSj Present Value Method ls lgh fu"d"kZ çkIr gksrs gSaA
(iii) Cost dks fLFkj vkSj ifjorZu'khy nksuksa vksj v/;;u djrk gSA
(iv) leku çfro"kZ vk; dh ekU;rk ls eqDr gSA
(v) QeZ }kjk vftZr lkjh vk; vkSj ml ij vkus okyh lkjh ykxr dks /;ku esa j[krk gSA
vkykspuk,a %
(i) Hkfo"; vk; vkSj ykxr ds ckjs esa vkadM+s çkIr djuk vlaHko lk gSA
(ii) dkQh tfVy fof/k gSA
(iii) vk; vkSj ykxr dks ,d fuf'pr le; ds ckn dk gh v/;;u djrk gS cfYd orZeku
esa ykxr vkSj vk; çfrfnu cnyrh jgrh gSA
fu"d"kZ %& la{ksi esa ge dg ldrs gSa fd vxj gekjs ikl vkadM+s lgh miyC/k gksa rks ;g
fof/k loZJs"B gSA
çfrQy dh vkUrfjd nj fof/k

(Internal Rate Of Return Method)
bl dlkSVh ls vfHkçk; ifj;kstukvksa ds ykHkksa vkSj ykxrksa ds çokgksa esa fufgr çfrQy dh
çfr'kr nj gSA LVhQu ,- ekxZfyu ds vuqlkj] çfrQy dh vkUrfjd nj (IRR) og cV~Vk nj
gS ftl ij çfrQy dk orZeku ewY; ?kVk ykxrsa 'kwU; gksAa nwljs 'kCnksa es]a tks cV~Vk nj ifj;kstuk
ds orZeku ewY; dks 'kwU; cukrh gS mls IRR dgrs gSaA vFkkZr~ IRR og cV~Vk nj gS tks udn
vUrçZokgksa ds orZeku ewY; dks udn Ckká çokgksa ds orZeku ewY; ds cjkcj djsxhA NPV dh rjg
IRR Hkh cV~Vk rduhd ij vk/kkfjr gSA bl rduhd ds vUrxZr Hkfo"; esa gksus okys udn
vUrçokgksa dk bl rjg cV~Vk fd;k tkrk gS fd mudk dqy orZeku ewY; dqy udn ckáçokgksa
ds orZeku ewY; ds fcYdqy cjkcj gksrk gSA çca/ku dks Hkfo"; esa gksus okys udn çokgksa dh
le;&lwph rks Kku gksrh gS ijUrq cV~Vk dh nj Kkr ughsa gksrhA
tgka] A1, A2, A3 vkfn igys] nwljs] rhljs o"kZ dh lekfIr ij udn vUrçZokg gSaA
r = çfrQy dh vkUrfjd nj(
n = ifj;kstuk dk laHkkfor thou( rFkk
C = ifj;kstuk dh ykxr gSA
mnkgj.kkFkZ] ;fn fdlh çkstsDV esa 1, djksM+ :0 dk fuos'k fd;k tkrk gS igys o"kZ ds var
esa 1,200 djksM+ :0 gks tkrk gSA vc çfrQy dh nj dh x.kuk fuEu çdkj dh tk,xhA
tgka]
1 = udn cká çokg vFkkZr~ çkajfHkd iwath fuos'k(
A1 = igys o"kZ ds var esa udn vUrçZokg(
r = fuos'k ls çkIr çfrQy dh nj
bl çdkj]
:0 1,000 =
;k 1,000 + 1,000r = 1,200

1,200
(1 + r)1 ;k 1,000r = 1,200 − 1,000
;k 1,000r = 200
r = 200/1,000
= .20 ;k 20%
;fn çfrQy ,d ls vf/kd o"kksZ rd vkrk gS rks çfrQy dh nj dh x.kuk fuEu lw=k ds
vk/kkj ij dh tk,xh %
A1 A2 A3 An
C= 2 + 2 +
+ ................
(1 + r) (1 + r) (1 r) 3 (1 + r) n
Lohdkj ;k vLohdkj djus dh dlkSVh

dksbZ iwath ifj;kstuk rHkh Lohdkj djus ;ksX; gksrh gS tc mldh çfrQy dh vkarfjd
nj (IRR) çfrQy dh bfPNr nj ls vf/kd gksA
lkis{k ykHknk;drk ds fy, nks ifj;kstukvksa esa ls igyh dh IRR nwljh ls vf/kd gks rks
igyh Js"B gksxh vkSj mls gh pquk tk,xkA ;fn nks oSdfYid ifj;kstukvksa ds orZeku ewY; fn,
gksa rks muesa ls dkSu lh pquh tk,xh ;g nj ij fuHkZj djrk gSA bls fp=k 1 esa n'kkZ;k x;k gSSA
lekukUrj v{k ij çfrQy dh nj rFkk vuqyEc v{k ij 'kq) orZeku ewY; (NPV) fy;k x;k
gSA oØ AA1 çFke ifj;kstuk dk fuos'k O;Dr djrk gS rFkk oØ BB1 nwljh ifj;kstuk dk
fuos'kA ifj;kstuk (B) dh çfrQy dh nj] çFke ifj;kstuk (A) dh vis{kk vf/kd gSA Or ij
çfrQy dh nj Or1 dh vis{kk vf/kd gSA D;ksafd Or2 ij nksuksa ij çfrQy dh nj leku gSA
fp=k 1.
ijUrq ;fn çfrQy dh nj Or2 ls de gks tkrh gS rks çFke ifj;kstuk (A) pquh tk,xh D;ksafd
AA' ij fuos'k dk 'kq) orZeku ewY; (NPV) vf/kd gksxk] tSls Or3 ij 'kq) orZeku ewY; ar3 gS
tcfd BB' ij ;g br3 gSA çfrQy dh nj ds ifjorZu ds vuqlkj dHkh çFke rFkk dHkh nwljh
ifj;kstuk dks pquuk switching rFkk re-switching dgykrk gSA
xq.k (Merits)
bl fof/k ds fuEu xq.k gS %
1. ;g fof/k eqæk ds le; ewY; ij fopkj djrh gSA
2. bl fof/k ds ç;ksx ds fy, iwath dk ykxr dh x.kuk dksbzZ vko';d 'kRkZ ughsa gSA
3. ;g fof/k ifj;kstuk dh laiw.kZ fof/k ds nkSjku gksus okys udn çokg ij fopkj djrh
gSA
lhek,a (Limitations)
1. tc fdlh ifj;kstuk dh ykHknk;drk dh x.kuk djus ds fy, ,d çfrQy dh nj
eku yh tkrh gS rks mls ifjofrZr djuk laHko ugha gksrk gSA
2. nh?kkZof/k esa Qy nsus okyh ifj;kstuk dh çfrQy dh nj ls x.kuk djuk dfBu gksrk
gS D;ksafd ,slhifj;kstuk dbZ o"kksZ rd ykHk ugha nsrh gSA
3. ;fn ifj;kstuk,a ,d nwljs ls fHkUu gksa rks ;g ekin.M ,slh ifj;kstuk dk i{k djrk
gS ftldh iwt
a h ykxr vU; ifj;kstukvksa dh vis{kk de gksrh gSA blfy, ;g ekin.M
vR;f/kd iwath&xgu ifj;kstukvksa ij ykxw ugha fd;k tk ldrkA
4. çfrQy dh vkUrfjd nj dks lkoZtfud fuos'k ds fy, ç;ksx djus ls lgh fu.kZ;
çkIr ugha gksrs gSA bldk eq[; dkj.k çfrQy dh vkUrfjd nj ds vFkZ ls gS ftlls
;g vfHkçk; fy;k tkrk gS fd fdlh e/;orhZ ykHkksa ;k ykxrksa dk Hkh vkUrfjd nj
(r) ij cV~Vk dkVk tkrk gSA ;g okLrfod ugha gS D;ksfa d lkoZtfud fuos'k esa e/;orhZ
ykHkksa ;k ykxrksa ij bl çdkj fV~Vk dkVuk laHko ugha gksrk gSA
5. çk; % ,slh ifj;kstuk,a Hkh gksrh gSa ftu ij çFke le;&vof/k esa gh leLr O;; ugha
fd;k tk ldrk ftlls mudh çfrQy dh vkUrfjd nj dks fu/kkZfjr djuk laHko ugha
gks ldrk gSA
6. çfrQy dh vkUrfjd nj dh dlkSVh ,slh fuos'k ifj;kstukvksa ds fy, mi;qDr gS tks

,d nwljs ls loZFkk Lora=k gksaA ,slh gkyr esa fofHkUu ifj;kstukvksa lcls igys pquh
tk,xh Js.khc) fd;k tk ldrk gS rFkk mPpre njksa okyh ifj;kstukvksa dks Øec)
pquk gksrk gS] tc fd leLr çkI; fuf/k;ka [kpZ ugha gks tkrhA ijUrq okLrfodrk ;g
gS fd lkoZtfud fuos'k ,d nwljs ls fcYdqy Lora=k ugha gksrs cfYd oSdfYid
lkoZtfud fuos'kksa ds chp fuos'k dsoy mudh çfrQy dh vkUrfjd njksa ds vk/kkj
ij gh ugha fd, tk ldrsA
7. iwath jk'kfuax dh leL;k ogka mRiUu gksrh gS] tgka ifj;kstuk,a] çfrQy dh nh dks
Øec)rk ds vk/kkj ij ugha pquh tk ldrhaA os dsoy vius NPV ij gh pquh tk
ldrh gSA
vè;k; 16
iwath ds L=kksr
Sources of Capital
,d QeZ dks fdlh Project ds yxkus ds fy, lcls igys iwath dh vko';drk gksrh gS
vkSj QeZ iwath dgka ls çkIr djs ;g QeZ ds fy, egRoiw.kZ dk;Z gSA blfy, QeZ dks ,sls L=kksrksa
dks /;ku esa j[kus dh vko';drk gS ftuls QeZ dks iwath çkIr gksrh gS vkSj ;s L=kksr dkSu ls
gSa ftuls QeZ ;k dEiuh vk; iwath çkIr djrh gSA ,d QeZ ds ikl iwath çkIr djus ds dbZ
L=kksr gksrs gSa ysfdu muls QeZ dks vfuf'prrk o tksf[ke dk lkeuk djuk iM+rk gSA
fdlh QeZ ;k dEiuh ds eq[; :i ls nks L=kksr gksrs gSa ftuls QeZ iwath çkIr djrh gS
tks fuEufYkf[kr gSaA
(i) Internal Sources vkarfjd L=kksr
(ii) External Sources ckgjh L=kksr
QeZ eq[;r % bUgha nks çdkj ds L=kksrksa dk iwath fuekZ.k ds fy, ç;ksx djrh gSA buds }kjk
QeZ dbZ çdkj dh iwath vius ikl j[krh gSSA ;k fQj fdlh ls m/kkj ys ldrh gSA tks QeZ ds
eqf'dy le; esa dke vkrh gS ;k nwljs Project dks 'kq: djus ds fy, ç;ksx esa yh tkrh gSSA
(I) Internal Sources :- vkrafjd lk/ku os gksrs gSa tks QeZ ds vius gksrs gSa rFkk og
mUgha ds }kjk vk; ¼iwath½ çkIr djrh gS tks fuEufyf[kr gSa %&
ewY;kàkl [kkrs esa /ku
(i) Deperisation Account
(ii) Retained Profit
(i) Deprisation Account—ewY;kàkl [kkrk dEiuh ;k QeZ dk og [kkrk gksrk gS tks
QeZ viuh e'khuksa dh VwV&QwV ds fy, Project ds 'kq: esa gh vyx ls nsrh gS rFkk ,d fuf'pr
vk; dk fgLlk dEiuh ;k QeZ vius [kkrs esa j[k nsrh gSA ¿,d fuf'pr vk; dk fgLlkÀ ftlesa
ykHk dks 'kkfey ugha fd;k tkrk gSA bl Sources esa eSustj dHkh Hkh fcuk vuqefr ds ç;ksx dj
ldrk gS rFkk 'ks;j/kkjh blds çfr mnklhu gksrs gSaA mUgsa blls dksbZ ysuk&nsuk ugha gksrk rFkk
bls dEiuh ;k QeZ cny ugha ldrhA ewY;kàkl [kkrs dks dEiuh ;k QeZ dHkh fdlh Project
dks 'kq: djus ds fy, ;k fdlh çdkj dh iwathxr ck/kk vkus ij ç;ksx dj ldrh gSA
(ii) Retained Profit—;s dEiuh ;k QeZ ds os ykHk gksrs gSa tks QeZ ds fdlh Project
ls gksrs gSa rFkk iwjs ykHkksa dks QeZ 'ks;j/kkfj;ksa esa forfjr ugha djrh gS cfYd dqy % ykHk dqN
Hkkx vius ikl j[k ysrh gSA rFkk dqN % ykHk dk 'ks;j/kfj;ksa esa ckaV nsrh gSA tks ykHk vius
ikl j[krh gS og QeZ ds vfuf'prrk rFkk Hkfo"; esa dke vkrk gS vkSj Retained Profit dk
fdruk fgLlk j[ks ;g dEiuh ;k QeZ dh ijEijk ij fuHkZj djrk gS ;k 'ks;j/kkjh vius fdrus
'kq) ykHk NksM+us ds fy, rS;kj gSA 'ks;j/kkjh;ksa dks çHkkfor djrk gS rFkk ,d EkSustj dks budk
ç;ksx djus ds fy, 'ks;j/kkfj;ksa dh btktr ;k vuqefr ysuh iM+rh gS fd D;k ge vkids
ykHkka'k dks bl Project esa ç;ksx dj ldrs gSaA bls fdlh u, Project esa Hkh yxk ldrs gSaA
iwath ds L=kksr 175
,d QeZ vius vkUrfjd L=kksrksa dk ç;ksx D;ksa djuk pkgrh gS blds fuEyfyf[kr dkj.k
gSa %&
1. blls QeZ dh Le‘f) o çcU/kdh; dq'kyrk dk irk pyrk gSA
2. bldh dksbZ vfrfjDr ykxr ugha gksrhA
3. blls QeZ dh foÙk dh vfuf'prrk de gksrh gSA
4. QeZ dh lk[k c<+rh gSA
(II) External Sources—;s QeZ ;k dEiuh ds vius Lo;a ds L=kksr ugha gksrs gSa cfYd
QeZ ;k dEiuh dks ckgj ls çkIr djus iM+rs gSa ftuls QeZ ;k dEiuh dks iwath dh
çkIrh gksrh gS tks fuEufyf[kr gS %&
(i) Sale fo Bond
(ii) Issuing Common share
(iii) Issuing Prefencial share Issuing Shares
(iv) Direct Loans
(i) Bond—dksbZ Hkh cM+h dEiuh ;k QeZ vius Bonds tkjh dj ldrh gS ftlds vkèkkj
ij QeZ ;k dEiuh fdlh lkekU; O;fDr ls iSlk m/kkj ys ldrh gSa blds fy, QeZ ;k dEiuh
dk vke O;fDr dks fo'okl gksuk vko';d gS rFkk dEiuh ;k QeZ dks Bonds ij C;kt dh nj
lkekU; C;kt dh nj ls vf/kd nsuh iM+rh gS rHkh ml dEiuh ;k QeZ dks Bonds ij C;kt dh
nj lkekU; C;kt dh nj ls vf/kd nsuh iM+rh gS rHkh ml dEiuh ;k QeZ ds Bonds dks O;fDr
[kjhnrs gSaA ysfdu lkekU;r % cM+h Qes± bldk de ç;ksx djrs gSaA D;ksafd bldh ykxr vfèkd
vkrh gSaA
Shares :- 'ks;j ,d QeZ eq[; :i ls nks çdkj ls tkjh djrh gS ;k 'ks;j eq[;r % nks
çdkj ds gksrs gSaA
(ii) Common Share—os 'ks;j gksrs gSa tks QeZ 'kq:vkr esa tkjh djrh gS rFkk ,d QeZ
vius ykHk dks blesa forfjr djrh gS vkSj QeZ vius Divident ¼ykHkka'k½ dk Hkjkslk nsrh gSA
ysfdu iwjh fo'oluh;rk ds lkFk ;g iDdk ugha dgrh fd mudks ykHkka'k feysxkA blh ds vk/
kkj ij lkekU; O;fDr buds 'ks;j [kjhnrs gSa rFkk NksVh QeZs ;k dEiuh ftudh lk[k ugha gksrh
gS buds fy, 'ks;j cspuk eqf'dy dk;Z gSA
(iii) Preferencial Share—¼iwoZf/kdkj va'k½ ;s os 'ks;j gksrs gSa ftuesa QeZ ;k dEiuh
fuf'pr nj ij Divident +¼ykHkka'k½ nsus dk oknk djrh gSA vkt ;fn QeZ dks T;knk ykHk gksrk
gS rks QeZ ;k dEiuh mUgsa T;knk ykHkka'k Hkh ns ldrh gS vkSj ;fn QeZ dks gkfu gksrh gS rks Hkh
QeZ dks ,d fuf'pr nj ij Divident nsuk gh iM+rk gSA og ykHk ;k gkfu ugha ns[krk rFkk ,sls
'ks;jksa ij lkekU; O;fDr dk fo'okl gksrk gS rFkk Ckktfj; lk[k vPNh gksrh gSA
(a) reddemable preference share
(b) irredemable preference share
(iv) Direct Loans—,d QeZ ;k dEiuh Commercial Book, SIBI<ICICI ;k IDBI
vkfn cSadks ls ,d fuf'pr C;kt dh nj ij _.k Hkh ys ldrh gS] tc mls lkekU; rjhds ls
iwath u feysA
lkjka'kµ
kµla{ksi esa ge dg ldrs gS fd ,d QeZ ;k dEiuh vius vkUrfjd L=kksrksa ls gh
iwath çkIr djuk pkgrh gS u fd ckgjh L=kksrksa lsA D;ksafd vkUrfjd L=kksrksa dh ykxr de vkrh
gS rFkk vklkuh ls fey tkrs gSa vkSj buesa tksf[ke rFkk vfuf'prrk Hkh ugha gksrh tcfd ckgjh
L=kksrksa esa ykxr Hkh vf/kd vkrh gS rFkk tksf[ke Hkh gksrk gSA
vè;k; 17
iwath dh ykxr
Cost of Capital
iwath ljapuk esa iwath dh ykxr ,d egÙoiw.kZ Hkwfedk jgrh gS vkSj fofHkUu L=kksrksa ls iwath
,df=kr djrs le; iwath dh ykxr dks /;ku esa j[kuk vko';d gSA fdlh Hkh QeZ ;k dEiuh
dks vius vkUrfjd o ckgjh lk/kuksa dk Kku gksrk gS fd mUgsa dgk¡&2 ls iwath çkIr gks ldrh
gS rks og bl ckr dk vo'; /;ku j[ksxh fd iwath dh ykxr D;k gksxhA vkSj QeZ ;k dEiuh
mlh L=kksr ls ;k ogha ls vf/kd iwath çkIr djrh gS tgk¡ ls mls de ls de ykxr ij vf/kd
ls vfèkd iwath fey ldsA vkSj ;fn iwath dh lkekU; ykxr dk QeZ dks irk yx tk, rks og
;g r; dj ldrh gS fd QeZ dks de ls de fdl nj ij fodkl djuk pkfg, ftlls mls
ykHk gksuk 'kq: gks tk, D;ksafd iwath dh ykxr O;olk; dh ykHk vtZu 'kfDr ij lh/kk çHkko
Mkyrh gSA vr% foÙkh; çcU/k dks pkfg, fd QeZ ds fy, iwath dh O;oLFkk djrs le; bl ckr
ij fo'ks"k /;ku j[ks fd QeZ dh vk; ij iwath dh ykxr dh vuko';d Hkkj u iM+sA
QeZ ds ikl iwath çkIr djus ds fofHkUu L=kksr gksrs gSa tgka ls og vk; ;k iwath çkIr djrh
gSA vkSj ml iwath dh ykxr D;k gksxh ;g tkuus ds fy, fofHkUu fof/k;ksa dk ç;ksx fd;k x;k
gSA tks fuEufyf[kr gSA
1. Cost of Debt. Capital
2. Cost of Preferncial Share
3. Average Cost of Capital
(1) Cost of Debt. Capital :- fdlh Hkh QeZ ds fy, _.k iwath dk rkRi;Z nh?kZdkyhu
_.k iwath ls gksrk gS vkSj QeZ ;g iwath _.k i=kksa o Bonds dks tkjh djds çkIr djrh gSA vkSj
Bonds o _.k i=kksa ij C;kt dh nj iwath dh ykxr gksrh gSA ysfdu QeZ vius Bonds o _.k
i=kksa dh ykxr Kkr djus ds fuEu formula dk ç;ksx djrh gSA ftlls gesa ;g irk pyrk gS
fd QeZ dh iwath çkIr djus dh vkSlr ykxr D;k vk jgh gSA tks fuEufyf[kr gS %&
MV − NP
i+
cd = n × 100
MV + NP
2
;gk¡ ij i = okf"kZd C;kt dh ek=kk dh nj] MV = og iwath tks okfil djuh gSA
NP = og iwath tks QeZ us okLro] n = Number of years esa çkIr dh gSA
eku yks Before tax Bond = 1000
Agent Commision = 7.5%
N.P. = 1000 − 75 = 925
iwath dh ykxr 177
n = 15 o"kZ
i = 15% çfr o"kZ
1000 − 925
+ 150
15 × 100 = 16.14%
cd = 1000 + 925
2
= After tax cost of Capital
Before tax cost (1−Tax rate)
Tax = 50%
Then 16.14 (1 − 50/100)
16.14 (1 − 0.5)
16.14 (0.5) = 8.07%
;fn QeZ dks çfr o"kZ 100% Bonds ds tfj, m/kkj ysus ij QeZ dks 8.07% dk okLrfod
Hkqxrku djuk iM+sxkA
(2) Cost of Preferencial Share—;s os 'ks;j gksrs gSa tks dksbZ QeZ ;k dEiuh vius
'ks;j/kkfj;ksa dks fuf'pr % ¼nj½ ij divident ¼ykHkka'k½ nsus dk oknk djrh gS vkSj mUgsa ;g
ykHkka'k vius 'ks;j/kkfj;ksa dks nsuk iM+rk gS pkgs QeZ dks gkfu Hkh D;ksa u gksA
;s 'ks;j eq[; :i ls nks çdkj ds gksrs gSa %&
(i) Redeemable Share ¼,d fuf'pr vof/k esa Hkqxrku djuk gksrk gS½
(ii) Irredeemable Share
budh Cost fudkyus dk formula fuEufyf[kr gSA
MV − NP
PD +
CP = n × 100
MV + NP
2
;gk¡ ij n = Number of year, PD = okf"kZd ykHkka'k
MV = og iwath tks QeZ dks Hkqxrku djuh iM+rh gSA
NP = og iwath tks QeZ dks okLro esa çkIr gksrh gSA
eku yks]
'ks;j dk ewY; = 100 :i;s
ykHkka'k = 13.5%
Cost of Share Issue = 7.5%
NP = 100− 7.50 = 92.50%
n = 15 o"kZ
100 − 92.50
13.5 +
CP = 15 × 100
100 + 92.50
2
Cost of Redeemable Share = 14.55%
(ii) Irredeemable Share :- os 'ks;j gksrs gSa ftudk Hkqxrku le; dky fuf'pr vofèk
esa ugha djuk gksrk gSA
budk Cost fudkyus dk formula fuEufyf[kr gSA
PD
CP = × 100
NP
PD = ykHkka'k
NP = QeZ dks çkIr okLrfod vk;
(3) C;kt dh nj dk fu/kkZj.kµ
.kµftl C;kt dh nj ij QeZ iSlk m/kkj ysrh gS ogha
mldh ykxr gksrh gSA
(4) Average Cost of Capital—dksbZ Hkh QeZ yxHkx lkjh iwath fdlh L=kksr ls çkIr
ugha djrh gS cfYd FkksM+h&2 lHkh L=kksrksa ls çkIr djrh gSA ftudh ykxr fHkUu&2 gksrh gSA QeZ
dks viuh ,df=kr dh xbZ lkjh iwath dh vkSlr ykxr fudkyus dk formula fuEufyf[kr gSA
ΣCW
WC = WC = Weighted Cost
ΣW
eku yks
W C CW
Bonds 70% 13.5% 94.5%

Pre Share 10% 14.55% 14.5:5%
Loan 20% 18% 3.60%
ΣW =100% ΣCW = 145%
A.C.C. = Average Cost of Capital
ΣCW 1 4 5 .0
A.C.C. = = = 1 5 .5 0 % gksxhA
ΣW 100
dfe;k¡µ
1. vFkZO;oLFkk esa C;kt nj fofHkUu ikbZ tkrh gSaA
2. ubZ QeksZa dks 'ks;jl vkSj ckS.M~l ls _.k ysus esa leL;k gksrh gS ftlls mudh iwath
dh ykxr dk vuqeku yxkuk dfBu gSA
3. lHkh QeksZa ds fy, 'ks;jl vkSj ckS.M~l dh nykyh ,d leku ugha gksrhA
4. QesZ cktkj ls vyx&vyx le; esa vyx&vyx O;fDr ls m/kkj ysrh jgrh gSa
ftuesa C;kt dh nj dh fHkUurk ikbZ tkrh gSA
fu"d"kZµ la{ksi esa ge dg ldrs gS fd QeZ dks viuh fofHkUu çdkj ls çkIr iwath dh
ykxr fudkyuk cgqr tfVy dk;Z gSA ijUrq QeZ iwath ykxr fudkydj og vius Profit rate
ds lanHkZ esa fu.kZ; ys ldrk gSA
QeZ dk vf/kdre ykHk fl)kar 179
vè;k; 18
QeZ dk vf/kdre ykHk fl)kar
PROFIT MAXIMISATION
,d QeZ dk eq[; mís'; vf/kdre ykHk çnku djuk gksrk gSA tc ,d QeZ mRiknu 'kq:
djrh gS rks og fdlh Hkh dher ij vkSj fofHkUu lk/kuksa }kjk vius ykHk dks vf/kdre j[kuk
pkgsxhA ,d QeZ tc vius lhfer lk/kuksa ls vfèkdre ykHk çkIr dj jgh gksrh gS rks og ml
le; lUrqyu esa gksrh gSA QeZ }kjk ykHk vf/kdre djus ds mís'; dks foosdiw.kZ O;ogkj ekuk
tkrk gSA
,d QeZ oLrq dh fdruh ek=kk mRikfnr djs rFkk mldh fdruh dher r; djs ftlls mls
vf/kdre ykHk çkIr gks lds vkSj QeZ dk vfHkçk; eqæk ykHk ls gksrk gSA
Profit Maximisation :- ,d QeZ ds ykHk ogk¡ ij vf/kdre gksaxs tgk¡ MC = MR rFkk
MC oØ MR dks uhps ls dkVrh gSA vFkkZr lhekUr ykxr cjkcj gksuh pkfg, rFkk lhekUr vk;
oØ dks uhps ls dkV jgh gks rHkh QeZ vfèkdre ykHk çkIr dj ldrh gSA ,d QeZ lhekUr vk;
dks /;ku esa j[kdj gh mRiknu djuk 'kq: djrh gSA
ekU;rk,¡µ,d QeZ fuEufyf[kr EkkU;rkvksa ds vk/kkj ij viuk mRiknu 'kq: djrh gSµ
1. QeZ dk çcU/kd gh Lokeh gS %& m|eh gh QeZ dk Lokeh gksrk gS rFkk LokfHkRo o çcU/
kd esa dksbZ vUrj gksrk vkSj ogh lkjs fu.kZ; ysrk gSA
2. QeZ dk ,d gh mís'; gksrk gS] vf/kdre ykHk dekukA
3. mRiknu dh 'krZ MC = MR rFkk MC, MR dks uhps ls dkVrh gSA
4. fuf'prrk ;k lEiw.kZ tkudkjh %& bl ekU;rk dk vFkZ gS fd lHkh ?kVuk,¡ fuf'prrk
ds vk/kkj ij ?kVrh gSA tSls ekfyd dks viuh QeZ dh MC, AC, MR, AR vkfn
Curves dk lEiw.kZ Kkr gksrk gSA
5. le; vof/k LorU=k gS vFkkZr~ vYidky $ vYidky = nh?kZdky
6. ços'k o R;kxus dh lHkkaouk %& QeZas cktkjksa ds vuqlkj gh ços'k o R;kx dj ldrh
gSa fd dkSu lk cktkj gS] iw.kZ çfr;ksfxrk gS ;k ,dkf/kdkj gSA
O;k[;k
O;k[;kµcktkj dks rhu Hkkxksa esa ckVk tk ldrk gS rFkk mUgha ds vk/kkj ij ;g fu/kkZfjr
fd;k tk ldrk gS fd dkSu ls cktkj esa dc ykHk vf/kdre gksaxsa] tks fd fuEufyf[kr gSaµ
1. iw.kZ çfr;ksfxrk
2. viw.kZ çfr;ksfxrk ;k ,dkf/kdkfjd çfr;ksfxrk
3. ,dkf/kdkj
lkekU;r% bu cktkjksa esa vYidky dh rjQ /;ku ugha fn;k tkrk gS D;ksafd QeZas rks
nh?kZdky rd dk;Zjr jgrh gSA dksbZ QeZ ;g lksp dj LFkkfir ugha gksrh fd og vYidky esa
dk;Z djsxhA blfy, bu cktkjksa esa nh?kZdkyhu ykHkksa dks Kkr djrs gS vkSj nh?kZdky esaµ
iw.kZ çfr;ksfxrk esa lkekU; ykHk

viw.kZ çfr;ksfxrk esa lkekU; ykHk rFkk
,dkf/kdkj esa vlkekU; ykHk çkIr gksrs gSaA
(1) iw.kZ çfr;ksfxrkµ
xrkµiw.kZ çfr;ksfxrk cktkj esa QesZa ftl oLrq dk mRiknu djrh gSa mudh
dher dk fu/kkZj.k m|ksx }kjk fd;k tkrk gSA m|ksx }kjk fu/kkZj.k ds dkj.k QeZ dh viuh dksbZ
fuf'pr dher ugha gksrh rFkk lgh <ax ls ykHk dk vuqeku Hkh ugha yxk;k tk ldrkA blfy,
QeZ dks m|ksx }kjk fu/kkZfjr dher ij gh eky cspuk iM+rk gS vr% QeZ dks lkekU; ykHk gh çkIr
gksrs gSaA
fp=k 1.
bl js[kkfp=k 1 esa ox v{k ij mRiknu rFkk oy ij dher rFkk ykxr gSA fp=k ls Li"V
gS fd QeZ dks lkekU; ykHk gh çkIr gks jgs gSaA OP og dher gSa ftls m|ksx us fu/kkZfjr fd;k
gSaA ;fn QeZ OP ls vf/kd dher r; djrh gS rks og dher AC ds fuEure fcUnq ls mij
fLFkr gksxhA ftlls MC o Price ogk¡ cjkcj gksaxs tgk¡ QeZ dks vlkekU; ykHk gks jgs gksaA ijUrq
ml fLFkfr esa ubZ QeksaZ ds ços'k dh lHkkaouk c<+ tkrh gS vr% QeZ nh?kZdky esa OP ls mij
lUrqyu esa ugha gks ldrhA ;fn QeZ OP ls de dher j[krh gS rks dher MC, AR rFkk
AC ls uhps fLFkr gksxh] ftlls MC o Price ,sls fcUnq ij cjkcj gksxh tgk¡ QeZ dks gkfu gksxhA
vr% nh?kZdky esa QekasZ dks m|ksx NksM+ ikus dh lHkkaouk jgrh gSA ftlls inkFkZ dh dhersa c<+
tk,xh rFkk m|ksx esa tks QesZa 'ks"k jg tkrh gSa os dsoy lkekU; ykHk gh çkIr dj ldsaxhA vr%
nh?kZdky esa iw.kZ çfr;ksfxrk eas QeZ ml le; lUrqyu esa gksxh tc dher ,sls fcUnq ij gksxh tc
AR, MR oØ AC ds fuEure fcUnq ij Li'kZ djrk gSA
(2) viw.kZ çfr;ksfxrk
xrkµµviw.kZ çfr;ksfxrk esa vYidky esa rks QeZ dks vlkekU; ykHk o gkfu
nksuks gks ldrs gSa ijUrq lkekU;r% nh?kZdky dh x.kuk gh dh tkrh gS D;ksafd vYidky $
vYidky = nh?kZdkyA nh?kZdky esa QeZ dks lkekU; ykHk gh çkIr gksrs gSaA nh?kZdky esa lkekU;r
ykHk gksrs gSaA vYidky esa vlkekU; ykHk Hkh gksrs gSaA ;fn QeZ OP ls vf/kd dher j[ksxh rks
AR rFkk MR nka;h vksj ljd tk,axs mls vlekU; ykHk gksaxs vkSj ubZ QeksaZ ds ços'k dh lHkkaouk
c<+ tk,xh vkSj ;fn OP ls de dher j[ksxh rks AR rFkk MR cka;h vksj ljd tk,saxs ftlls
mls gkfu gksxh vr% nksuksa gh fLFkfr;ka vYidkyhu gks ldrh gSA ijUrq nh?kZdky esa mls lkekU;
ykHk gh feysaxsA
(3) ,dkf/kdkjµ
,dkf/kdkjµ,dkf/kdkj ,d ,slk cktkj gS ftlesa inkFkZ ;k oLrq dk fudVre
LFkkukiUu ugha gksrk rFkk cktkj esa dsoy ,d gh mRiknd] QeZ ;k foØsrk gksrk gSA blesa QeksaZ
ds ços'k o R;kxus ij iw.kZ çfrcU/k gksrk gSA blfy, QeZ dks ges'kk vlkekU; ykHk çkIr gksrs gSaA
bls fuEu fp=k 2 }kjk n'kkZ ldrs gSaA
QeZ dk vf/kdre ykHk fl)kar 181
fp=k 2. fp=k 3.
bl js[kkfp=k 3 ls Li"V gS fd QeZ OP dher j[ksxh rFkk OQ ek=kk dk mRiknu djsxhA

lUrqyu 'kRkZ E fcUnq ij iwjh gSA vr% E fcUnq ij QeZ ij QeZ dh vkSlr dher OH ds cjkcj
gS rFkk vkSlr vk; OP ds cjkcj gS vr% QeZ dks PTST ds cjkcj vlkekU; ykHk fey jgs gSaA
vkykspuk,a—
1. QeZ dsoy ,d gh mís';] ykHk dekuk ugha gksrk cfYd vksj Hkh cgqr ls mís'; gksrs
gSaSA
2. QeZ dks igys ls gh vius ykxr o vk; oØksa AR,MR, AC, MC dk Kku ugha gksrkA
3. Hkfo"; ds ckjs esa fuf'prrk ugha gksrh cfYd Hkfo"; rks vfuf'pr gksrk gSA
4. QeZ dk LokfHkRo o çcU/kd ,d gks] ;g okLrfodrk ugha gS D;ksfa d LokfeRo o çcUèkd
,d O;fDr ds cl dh ckr ugha gksrhA
5. QeZ ds R;kxus o ços'k djus dh ekU;rk Hkh xyr gSA
fu"d"kZµla{ksi esa ge dg ldrs gSa fd QeZ dh dsoy ,d mís'; ykHk dekuk ugha gksrk
cfYd vkSj Hkh mís'; gksrs gSa rFkk Profit Maximisation Theory vokLrfod ekU;rkvksa ij
vkèkkfjr gksus ds dkj.k okLrfodrk ls nwj gSA
vè;k; 19
fcØh vf/kdre fl)kUr
Sales Maximisation (Baumol)
fcØh vf/kdre fl)kUr % 1948−49 esa W.J. Baoumol us ladsr fn;k gS fd QeZ dk
mís'; dsoy ek=k ykHk vfèkdre ugha cfYd fcØh vf/kdre djuk gksrk gSA ckeksy us dgk orZeku
QeksZa esa QeZ dk lapkyu ekfyd ugha cfYd eSut s j djrs gS]a ekfyd rks QeZ ds 'ks;jèkkjh gksrs gSAa
,slh voLFkk esa ,d eSut s j vius 'ks;j/kkfj;ksa ¼ekfydks½a dks ,d U;qure ykHk dh nj çnku djrs
gq, fcØh vf/kdre djuk pkgsxkA buds fuEu dkj.k gSa %&
1. D;ksafd eSustj dh Salary vkSj nwljh lqfo/kk,a QeZ dh fcØh ds lkFk tqM+h gksrh gSa u
fd ykHk ds lkFkA
2. fofÙk; laLFkk,¡ QeksaZ dks lk[k çnku oDr ml QeZ dh fcØh dks /;ku esa j[krh gSA
blfy, ,d eSustj lLrh nj ij foÙk ikus ds fy, QeZ dh fcØh vf/kd pkgsxkA
3. O;fDrxr leL;kvksa dks fcØh ds lkFk vklkuh ls lqy>k;k tk ldrk gSA
4. T;knk fcØh eSustj dh Protige dks c<+krh gS ftlls nwljh QesaZ Hkh ml eSustj dh
t:jr eglwl djrh gSA ijUrq T;knk ykHk dh nj ekfyd dks [kq'k djrh gSA
5. eSustj vius ekfyd dks ,d lkekU; ykHk dh nj çnku djuk pkgsxkA D;ksafd ,d
le; esa miyC/k djk;k x;k T;knk Profit ekfyd Profit dh nj ds çfr ykylk c<+k
nsrh gSA
vr% bu dkj.kksa ls eSuts j fcØh vf/kd pkgsxk rFkk ekfydksa dks U;qure ykHk nsxk] ugha rks
mldh job dks [krjk gks ldrk gSA
ekU;rk,¡ %
1. Time Horizen ,d gh vof/k ¼orZeku vof/k½ dk gSA
2. bl vof/k esa QeZ fcØh vf/kdre djuk pkgrh gSA
3. U;qure ykHk dh lhek ckgjh rRokas }kjk fu/kkZfjr gksrh gSA vkSj ;fn mlls de ykHk
dh nj 'ks;j/kkfj;ksa ¼ekfydks½a dks çkIr gksrh gS rks eSut
s j dh ukSdjh [krjs esa iM+ tkrh
gSA
4. ykxr oØ ijEijkxr rjhds ¼'U' vkdkj½ ds ekus x, gSaA
Model :- Static Model
(A) A Single Product Model without Advertising
(B) A Single Product Model with Advertising
(C) A Single Product Model with out adver tising
(D) A Single Product Model with adver tising
fcØh vf/kdre fl)kUr 183
(A) A Single Product Model without Advertising—igys ge bl fl)kUr dh

O;k[;k djsaxs ftlesa foKkiu O;; dks 'kkfey ugha fd;kA ,dy mRikn QeZ ftldksa çcU/kd
pykrk gks dk mís'; fcØh vf/kdre gksrk gS u fd ykHk vf/kdreA ;fn QeZ dk mRikn fcuk
foKkiu ds lgkjs fcdrk gks rc QeZ dk dqy vk;dj ls ge ;g crk ldrs gSa fd QeZ dh
vfèkdre fcØh dgka gksxhA ,d QeZ vius dqy vk; oØ vkSj dqqy ykxr oØ dh lgk;rk ls
ge ;g Hkh O;k[;k dj ldrs gS fd QeZ ;fn fcØh vf/kdre pkgrh gS rks QeZ dk larqyu dgka
gksxk vkSj ;fn ykHk vfèkdre pkgrh gS rc larqyu dgka gksxk ftldh O;k[;k cSey ds eksMy
dh O;k[;k djus ls igys t:jh gSA ge fuEu fp=k ls dj jgs gSA
fp=k 1.
mijksDr fp=k esa TR oØ esa d fcUnq ij dqy fcØh vf/kdre fn[kkbZ xbZ gSA tks fd ykHk
oØ ij fn[kk, x,s fcUnq ls fHkUu gSA bldk vfHkçk; ;g gqvk fd ,d fcØh vf/kdre djus okyh
QeZ dk larqyu ykHk vf/kdre djus okyh QeZ ls fHkUu gksrk gSA çcU/kd viuk ;g fcØh vf/
kdre dk mís'; çkIr djus ds fy, QeZ ds 'ks;j /kkfj;ksa ds U;qure ykHk dks /;ku es j[kuk iM+rk
gSA D;ksafd 'ks;j /kkjh QeZ ds ekfyd gksrs gS vkSj ;fn çcU/kd muds okfUNr ykHk dks çnku ugha
djrk rc 'ks;j /kkjh ml çcU/kd dks ukSdjh ls cj[kkLr Hkh dj ldrs gSA çcU/kd viuh ukSdjh
dks cuk, j[krs gq, viuk mís'; çkIr djuk pkgsxkA çksQslj cSeqy ds vuqlkj eSustj viuk
mís'; çkIr djrs oDr nks çdkj dh fLFkfr;ksa dk lkeuk dj ldrk gSA
1. tc ekfyd dk U;qure ykHk (Profit Constrained) çcU/kd dks viuk mís'; çkIr
djus esa dksbZ ck/kk
π u Mkyrk gks! A
2. tc ekfyd dk U;qure ykHk (Profit Constrained) çcU/kd dks viuk mís'; çkIr
djus esa dksbZ ck/kk Mkyrk gksA
fp=k 2.
bu nksuks fLFkfr;ks dh O;k[;k ge Øekuqlkj fuEu js[kk fp=kksa ls dj jgs gS ftlls fp=k
u- 2 igyh fLFkfr dh O;k[;k dj jgk gS vkSj fp=k u- 3 nwljh fLFkfr dh O;k[;k dj jgk gSA
fp=k u- 2 ds vuqlkj tc ekfyd dk U;qure ykHk çcU/kd dks viuk mís'; iw.kZ djus esa dfBukbZ
ugha Mkyrk gks fd O;k[;k djrk gSA çcU/kd ewy vk; oØ ds fcUnq ij tkuk pkgrk gSA tks vf/
kdre gSA ml le; QeZ dks feyus okys ykHk ekfyd }kjk vk'kfrr r; fd;s x;s U;wure ykHk
ls T;knk gSAa bl çdkj çcU/kd dks ekfyd ls fdlh çdkj dk dksbZ fojks/k dk lkeuk ugha djuk
iM+rk D;ksafd çcU/kd us QeZ ls ftrus ykHk dh ekfyd vk'kk djrk Fkk dks çnku dj fn;s x;s
gSA ftlls ekfyd Hkh larq"V gksxk vkSj çcU/kd Hkh viuh dqy fcØh dks vfèkdre djds larq"V
gksxkA bl fLFkfr dks ge (Non Operative profit Constraint) dgrs gSA
fp=k 3.
fp=k u- 3 dh O;k[;kµ
O;k[;kµçksQl s j cSey q us dgk dh ;g t:jh ugha fd çcU/kd ds mís'; vkSj
'ks;j /kkjh ds mís';kas esa dksbZ fojks/kkHkkl uk gks ;fn ,slk gksrk rc çcU/kd dks vius vk; vf/
kdre ds mís'; esa ekfyd ds vuqlkj le>ksrk dj ysrs gSA çcU/kd dks igys ekfyd dks larq"V
djuk gksrk gSA vkSj mlds ckn og viuk mís'; çkIr djrk gSA fp=k u- 3 esa n'kkZ;k x;k gS fd
ekfyd dk (P.P) ykHk oØ gSA tks ekfyd }kjk vius vki r; fd;k x;k gSA QeZ (Q.T) ,fj;k
ds vanj gh ekfyd bl mís'; dks iw.kZ dj ldrh gSA ijUrq çcU/kd dk vk; vf/kdre dk mís';
bl {ks=k esa iwjk ugha gksrkA blfy, çcU/kd ogka rd viuk mís'; çkIr djsxk tc QeZ dks ekfyd
ds }kjk r; fd;s x;s U;qure ykHk vo'; çkIr gks jgs gksA bl fLFkfr dks (Operative Profit
Constraint) dgrs gSA
QeZ tc çca/kd ds mís'; ds vuqlkj dke dj jgh gks rc mlds dher Lrj vkSj ykHk vf/
kdre ds vuqlkj dke dj jgh gks ds dher Lrj esa varj gksrk gSA fcØh vf/kdre djus okyh
QeZ dk dher Lrj ykHk vf/kdre djus okyh QeZ ds dher Lrj dh rqyuk esa de gksrk gSA
ftldh O;k[;k ge js[kkfp=k u- 4 ls dj jgs gSA bl js[kk fp=k esa dqy vkxe oØ ds fofHUu fcanv
q ksa
ij ,d lh/kh ykbZu lh ge dher Lrj esa gksus okys ifjorZu dks eki jgs gSA ;fn bl js[kk ds
<yku esa ftruh deh gksrh tkrh gS mruh gh dher de gksrh tkrh gSA js[kk 0 vkSj js[kk 0 ls
dk <+yku fHkUu&fHkUu gSA js[kk 0 d ykHk vf/kdre pkgus okyh QeZ dk dher Lrj gS vkSj js[kk
0 l dk <yku fcØh vf/kdre pkgus okyh QeZ dk dher Lrj n'kkZrh gS tks fd 0 d ds <yku
ls de gS bl js[kk fp=k dks ge vxys ist ij n'kkZrs gSA
fcØh vf/kdre fl)kUr 185
fp=k 4.
bl js[kkfp=k esa ox ij mRiknu rFkk oy ij dqy vk;] dqy ykxr] dqy ykHk fy, gSAa ML
U;qure ykHk js[kk gS tks fd eSustj dks ekfydksa dks nsuk iM+rk gSA TC o TR O fcUnq ls 'kq:
gS vr% ;s nh?kZdkyhu ykxr o vk; gSaA
;fn QeZ dk mís'; ykHk vf/kdre djuk gS rks OA oLrq dh fcØh gksxh D;ksafd AH
vfèkdre ykHk dks n'kkZ jgk gSA ijUrq ckeksy ds vuqlkj QeZ dk mís'; fcØh vf/kdre djuk
gS tks fd og gksxh tgka (TR) dqy vk; vf/kdre gksxhA TR vf/kdre R2 fcUnq ij gSA vr%
QeZ OC oLrq dh fcØh djds vk; rFkk CG Profit çkIr djrh gSA
QeZ ;fn ,slk djrh gS rks mls CG ykHk gksaxs tks fd U;wure ykHk js[kk ML ls de gksaxs
$
blfy, eSut s j dh Job security dks [krjk gks ldrk gSA bl fLFkfr esa QeZ ml fcUnq ij mRiknu
djsxh tgk¡ U;wure ykHk mRiUu gks jgs gksaA E fcUnq ij TP oØ ML dks dkV jgk gS vr% QeZ
BE U;wure ykHk çkIr djrs gq, OB oLrq dk mRiknu djsxh rFkk BR1 ds cjkcj dqy vk; çkIr
djsxhA bl fLFkfr esa QeZ U;wure ykHk ij vf/kdre fcØh dj jgh gSA U;wure ykHk js[kk (ML)
ykHk oØ (TP) dks K fcUnq ij Hkh dkV jgh gS ijUrq ml fLFkfr esa QeZ dh dqy vk; de gS vr%
og dh ON ctk; OB mRiknu djds vf/kd fcØh o vf/kd vk; (TR) çkIr dj ldrh gS tks
fd BR1 gSA
Effect of Increase in Fixed cost in Equilibrium Position of a Sales Maximiser
Firm
tc dHkh QeZ dh ca/kh ykxr esa o‘f) gks tkrh gS rks QeZ dk Total cost curve Åij dh
rjQ ljd tkrk gS vkSj bl çdkj Total profit curve uhps dh vksj ljdrk gS Sales maximiser
QeZ c<+h gqbZ ykxr dh dher c<+kdj xzkgdksa ij Mky nsrs gSA ,slk ml le; gks ldrk gS tc
Sales maximiser QeZ ij tSls fd Lump-sum Tax ¼bdV~Bk VSDl½ yxk fn;k tkrk gSA
Lump-sum Tax c<+h ykxr dk :i gSA vYidky esa ca/kh ykxr xzkgdksa ij ugha j[kh tk
ldrh cfYd QeZ dks [kqn dks cnkZ'r djuh iM+rh gSA tc ,d QeZ Profit maximiser gksrh gS
rc mRiknu vkSj dher dks çHkkfor ugha djrh gSA vYidky esa cfYd og Lo;a Lump-sum
tax ds Hkkx dks lgu djrh gSA ijUrq ;fn ,d QeZ Sales maximiser gSA tSlk mijksDr fp=k
esa n'kkZ;k x;k gSA pkgs dqN Hkh Lump-sum tax profit dks uhps dh vksj ljdk nsxk vkSj ,d
fn;s gq, Profit Constraint QeZ mriknu ds Lrj dks de djsxhA vkSj dher dks c<+k nsxhA ;g
dher esa o‘‘f) mRiknu esa deh gksus ds dkj.k Hkh gksrh gSA tSls fp=k esa mRiknu Xs esa fxjkdj
Xs1 gks tkrh gS ijUrq Baumol ;g rdZ nsrk gS fd vUrr% QeZ Tax dks xzkgdksa ij gh Vyrh gSA
Π
fp=k 5.
%
tc mRiknu ij çfr bdkbZ Tax yxk;k tk;s ftldsΠ Π fof'k"V&dj Specific tax dgrs gSaA
1
;g Hkh Profit dks uhps ckbZ vksj ljdk nsxkA ,d fn;s gq, Profit Constraint ij Sales
maximiser mRiknu dks Xs ls ?kVkdj Xs1 dj nsxk vkSj dher dks c<+k,xk vkSj bl çdkj dqN
tax dks xzkgdksa ij Vky nsxkA ,d profit maximiser firm gh fp=k esa n'kkZ;s x;s mRiknu ds
vuqlkj mRiknu dks XII ls ?kVkdj Xs dj nsxh vkSj oLrq dh dher c<+k,xhA
% %
"
%Π fp=k
%Π 6. %
pkgs dqN Hkh gks sales maximiser QeZ ds mRiknu esa deh profit
π maximiser firm dh vis{kk
vf/kd gS tSls fp=k ls Li"V gSA ekax esa ifjorZu (Shift) mRiknu esa ifjorZu ,d sales revenue
maximisation dh voLFkk esa vo'; gksxk ijUrq Baumol ds model esa ,d fuf'pr ugha gSa fd dher
esa fdruk ifjorZu gksxkA dher ekax esa ifjorZu vkSj QeZ dh costs condictions ij fuHkZj djrh
gSA
MODEL 2 A SINGLE PRODUCT MODEL WITH ADVERTISING
THE ASSUMPTION OF THE MODEL
Model dh ekU;rk,a %µ
1. QeZ dk mís'; minimum profit constraint ds gksrs gq, vf/kdre sales revenue çkIr
djuk gSA
2. Minimum Profit dk fu/kkZj.k ckgj (Exogenously determinent) gksrk gSA
larqfyr lao‘f) nj vf/kdre fl)kar 197
vè;k; 20
larqfyr lao‘f) nj vf/kdre fl)kar
BALANCE GROWTH RATE MAXIMISATION
Balance Growth Rate Maximisation fl)kUr Marris us çfrikfnr fd;kA ;g mudk

O;ogkjoknh fl)kUr FkkA Marris ds vuqlkj dksbZ Hkh QeZ gks og vius&vius mís'; j[kdj
gh viuk mRiknu vkjEHk djrh gS rFkk vf/kdre lUrqf"V djuk pkgrh gSA muds vuqlkj ,d
QeZ ds ekfyd o eSustj ml le; lUrq"V gksrs gS tc lUrqfyr fodkl vf/kdre gks rFkk
lUrqfyr fodkl rHkh vf/kd gks ldrk gS tc ekfyd dh Growth of Capital ¼iwt a h dh lao‘f)½
vkSj eSustj dh Gorwth of Demand ¼ekax dh lao‘f)½ vf/kdre gksA
Marris ds vuqlkj ekfyd o eSustj dh QeZ ds çfr vyx&vyx bPNk,a gksrh gS vkSj
os viuh&viuh bPNkvksa dks Maximise djuk pkgrs gS vkSj nksuksa rHkh vf/kdre lUrq"V gksrs
gS tc Balanced Growth gksA
eq[; mís';µ
Growth (G) = gd = gc
gd = Growth of Demand
gc = Growth of Capital
O;k[;k % ,d QeZ ds ekfyd o eSustj dh vyx&vyx bPNk,a gksrh gSaA
rc og Utility of owner = f (Profit, Capital, Output, Public Easteen)
,d QeZ ds ekfyd rHkh vf/kdre lUrqf"V çkIr dj ldrs gSa tc mijfyf[kr lHkh çkIr
gks jgs gksa
Utility of Manager = (Salaries, Power, Status or Job security)
,d eSustj viuh bu lc ckrksa dks è;ku esa j[kdj gh mRiknu djrk gS rFkk blds
lkFk&lkFk ekfyd ds Project dks Hkh è;ku esa j[krk gSaA bUgsa ge fuEu çdkj fy[k ldrs gSA
Utility of Owner = f(gc)
Utility of Manager = f(gd)
Maximise of balanced growth rate—
Growth = Growth of Capital = Growth of demand
Constraint—fdlh QeZ ds ekfyd rFkk eSustj dks dqN lhekvksa esa jgdj dk;Z djuk
iM+rk gS vFkkZr~ budh dqN lhek,a gS ftuls vkxs os ugha c<+ ldrs] ;s lhek,¡ fuEufyf[kr
gSµ
(1) Managerial Constraint—eSustj dks QeZ dh çxfr djus ds fy, fuf'pr lhekvksa
esa gh dk;Z djuk iM+rk gS rFkk mldh Job security cuh jg ldrh gSA tSls fd ,d fuf'pr
ykHkka'k mls ekfyd dks nsuk iM+sxk ugha rks mldh Job security dks [krjk gks ldrk gSA
(2) Job security Constraint—eSustj dks viuh Job dks cuk, j[kus ds fy, dqN
lhekvksa esa jgdj dk;Z djuk iM+rk gSA bu lhekvksa dks ge fuEu çdkj ls n'kkZ ldrs gSA
Value Debt
a1 Debt Ratio = =D
Total Asset
budk negative effect iM+rk gSA
Liquidity Asset L
a2 = Liquidity Ratio = =
Total Asset Α
;g 'kq: esa Positive gksrk gSA
Retained Profit rR
a3 = Retained Ratio = =
Total Profit r
;g Hkh Positive gksrk gS
eSustj dks viuh Job dks cuk, j[kus ds fy, bu lc ckrksa dks è;ku esa j[kuk iM+rk gS
MODEL—Marris ds fl)kUr ds vuqlkj Owner rFkk Manager dks vf/kdre lUrqf"V
feyuh pkfg,A rFkk nksuksa lUrqyu esa gksaA
bls fuEu rjg n'kkZ ldrs gSa %
U Owner = gc
U Manager = gd
d = gc = gd
Instrumental Variable—QeZ ds eSustj }kjk viuh lUrqf"V dks c<+kus rFkk ekfyd dks
lUrqf"V dks c<+kus ds fy, fdu&fdu pjksa esa ifjorZu dk lgkjk ys ldrk gS] mls ge
Instrument Variable dgrs gSaA
eSustj fuEu pjksa esa ifjorZu djds lUrqf"V c<+k ldrk gSA
P = C + A + R and D + M
P = Price
C = Capital
A = Advertisement,
R & D = Reserach and development , M = Profit
ge P rFkk C dks fLFkj ekudj pyrs gSaA vkSj tc gesa Average Profit fudkyus gksa
rks = M = P − C − A − R & D D;ksafd P vkSj C dks ge fLFkj ekurs gSa rFkk R & D dk M
ds lkFk Negative lEcU/k gksrk gS] vkSj fQj
R&D = Record & Development − Rate of growth Demand
gd = f1 (d, k)
d = diversification ( new product)
k = Success of new product
k = f2 (d, P, A, R & D, Internal Value
ge ;gk¡ P dks fLFkj ekurs gSa rFkk budk K ds lkFk Positive lEcU/k gSA blfy,
m = f3 (A, R & D)
M ds lkFk budk Negative lEcU/k gSA
blfy, K = f4 (d, m)
m rFkk k dk Hkh negative lEcU/k gSA
blfy, gd = f
= (d, m)
bldks ge fp=k }kjk n'kkZ ldrs gSaA
fp=k 1.
;fn ge vius Profit rate dks c<+kdj 10% ;k 20% djuk pkgrs gSa rks growth of
Demand de gks tk,xh vkSj oØ uhps dh rjQ f[kld tk,xkA ;fn ge Profit rate de djrs
gSa rks growth of Demand vf/kd gks tk,xh vr% oØ mij dh rjQ f[kld tk,xk vkSj ,d
QeZ dk eSustj rHkh vf/kdre lUrqf"V çkIr dj ldrk gS tc gd vf/kdre gksA
Rate of growth of Capital Supply :- ,d QeZ dk ekfyd Hkh vf/kdre lUrqf"V çkIr
djuk pkgrk gS vkSj og vf/kdre lUrq"V rc gksrk gS tc
U owner = gc
= growth of capital vf/kdre gks
rFkk gc = f1 vkSj
Marries lHkh Constrained dks a ls n'kkZrk gSA
π = f
= (m, k/x)
;gk¡ k/x = iwath mRiknu vuqikr
vkSj k/x = f (d)
ge iwath mRiknu vuqikr dks fLFkj eku ysrs gSa rFkk ,d lhek rd iwath mRikn vuqikr
de gksrk tkrk gS rFkk mlds ckn c<+uk 'kq: djrk gS blfy, &
π = f (m, d)
blfy, gc = f (m, d)
bldks ge js[kkfp=k }kjk Hkh n'kkZ ldrs gSaA
fp=k 2.
ysfdu owner rFkk manager dk eq[; mís'; g = gc = gd gksrk gSA blfy, nksuksa rHkh
vf/kdre lUrqf"V çkIr dj ldrs gS tc gd = gc gksA rFkk nksuksa vf/kdre fcUnq ij LFkkfir
gksa tks fuEu fp=k esa Li"V gS %&
QeZ ds ekfyd rFkk eSustj fcUnq E ij vf/kdre lUrqf"V çkIr dj jgs gSa blfy, ;s nksuksa
fcUnq E ij gh lUrqyu esa gSaA D;ksafd fcUnq G ij Profit rate vf/kdre gksus ls growth of
Demand de gS vkSj fcUnq F ij Growth of demand vf/kd gksus ij profit rate de gSA
blfy, fcUnq E ij gh nksuksa lUrqyu esa gS D;ksafd fcUnq E ij growth of Demand rFkk Profit
rate nksuksa vf/kdre gSaA
fp=k 3.
Marris rFkk Baumol ds fl)kUr dh rqyuk rFkk bu rqyukvksa ds vUnj gh ekU;rkvksa ds

vk/kkj ij vkykspuk,a dh xbZ gSaµ
bu nksuksa dk ,d gh er gS fd QeZ ds mís'; dk fu/kkZj.k manager }kjk fd;k tkrk gSA
fdu {ks=kksa esa fdruk ifjorZu djuk gS] dheras D;k j[kuh gS] ykHk dh nj D;k gksuh pkfg,]
Advertisement fdruk [kpZ djuk pkfg, vkfnA ijUrq fQj Hkh nksuksa ds e/; fuEu vUrj gSa %&
(1) Baumol ds Model esa Manager dsoy viuh lUrqf"V vf/kdre djuk pkgrk gS
(Sales maximisation djds½ ijUrq Marris ds Model esa manager viuh lUrqf"V ds lkFk&2
Owner dh lUrqf"V Hkh vf/kdre djuk pkgrk gSA
(2) nksuksa gh fl)kUrksa esa manager project dh ekax c<+kuk pkgrs gSaA ijUrq dqN lhekvksa
esa Boumol ds vuqlkj manager sales maximise djuk pkgsxsa vkSj Profit ds minimum
constant j[kasxsA ijUrq Marris ds vuqlkj Project dh ekax dks c<+kus ds fy, QeZ rate of
Diversification djuk pkgsxhA
(3) Boumol ds fl)kUr esa Growth of Capital ds ckjs esa eSustj dh :fp dks ughsa crk;k
x;kA muds vuqlkj QeZ dks T;ksa&2 ykHk feyrs tk;saxs gc vius vki gksrh tk,xhA ijUrq
Marris ds vuqlkj ,d eSustj Owner dks [kq'k djus ds fy, gc dks vf/kdre djuk pkgsxkA
(4) nksuksa gh fl)kUrksa esa Profit dk fu/kkZj.k djuk vkUrfjd eqík gS u fd eq[; mís';A
nksuksa dk ;g Hkh ekuuk gS fd QeZ lkekU;r;k viuk foLrkj djus ds fy, retained profit dk
lgkjk ysrh gSA
(5) Marris ykHk ds lkFk&2 growth rate dks Hkh vf/kdre djuk pkgrk gSA bldk ekuuk
gS fd Profit rFkk growth ,d nwljs ds foijhr ugha gSA ijUrq Baumol ds vuqlkj Project dh
growth dks c<+kus ds fy, project dk R;kx djuk iM+rk gSA
Marris rFkk Baumol ds fl)kUr esa Instrumental lEcU/kh vUrjµ
(1) Price ds vk/kkj ijµ ijµnksuksa gh fl)kUrksa esa dgk x;k gS fd QeZ dher esa o‘f) ;k
deh dk lgkjk ugha ysxh D;ksafd ,d QeZ ds dher de djus ij nwljh QesaZ mldh gksM_ esa
'kkfey gks ldrh gSA ;g Hkh ekuk x;k gS fd QeZ dks viuh mRiknu dks Average Cost dk
irk gksrk gSA
(2) Output ds vk/kkj ijµBaumol ds vuqlkj QeZ vius U;qure ykHk dks /;ku esa
j[krs gq, rc rd output dks c<+rh tk,xh tc rd revenue maximise u gks tk,A ijUrq
Marris ds vuqlkj QeZ viuh growth of demand dks or growth of capital dks /;ku esa j[krs
gq, pysxhA Marris Hkh optimum output ds ckjs esa ftØ ugha fd;kA
(3) R and D or Advertising ij [kpZµ Baumol ds vuqlkj Advertisement dks c<+kus
ls vkj o fcØh c<+rh gSA ijUrq Baumol us dEiuh ds R and D ds ckjs esa dqN ugha crk;kA
Marris ds vuqlkj ,d QeZ Advertisement or R and D dk lgkjk ysxhA ftlls mlds
Project dh ekax c<+sA blds fy, og Profit Hkh de dj ldrk gSA
(4) fofÙk; uhfrµBaumol ds vuqlkj ,d eSustj retained profit dk lgkjk ysdj viuh
QeZ dk foLrkj dj ldrk gSA mlds ckjs esa Baumol esa dksbZ lhek ugha crkbZA ijUrq Marris
us fofÙk; fufr lEcfU/kr rhu /kkj.kkvksa dks crk;k ftlds ckjs esa ,d eSustj fu.kZ; ys ldrk
gSA
vè;k; 21
izcU/kd dh mPp mi;ksfxrk ;k fofy;elu dk
izcU/kdh; fMLØh'ku ekWMy
MANAGERIAL UTILITY MAXIMISATION OR
WILLIAMSON’S MODEL OF MANAGERIAL
DISCETION
lu~ 1963 esa O. Williamon us vius article ‘Managerial Discretion and business
behaviour’ esa ,d QeZ ds mís'; D;k gkax
s as vkSj mlesa ,d çcU/kd dk D;k role gksxk] dk foospu
fn;kA
O.W. us crk;k fd ,d eSustj dh ;g bPNk gksrh gS fd og viuh lUrqf"V dks vf/kdre
djs u fd ykHk dks vfèkdre djsA D;ksafd T;knk ykHk rks Owner dh lUrqf"V c<+krs gSaA gkykafd
mudk fopkj gS fd eSuts j ;g fcYdqy ugha pkgsxk fd ekfyd dks fcYdqy Hkh ykHk u feysA ;fn
og ,slk djrk gS rks ;g eSustj dh Job security ds fy, [krjk gks ldrk gSA
çcU/kd dh mi;ksfxrk fuEu ckrksa ij fuHkZj djrh gS %&
Um = f (Salary, Security, Power, Prestige)
mi;ksfxrk dks çHkkfor djus okys rRoksa esa Salary ,d ,slk rRo gS ftldks ge eki ldrs
gSa ijUrq vU; rRoksa dks ge lh/ks rkSj ij ugha eki ldrsA ge muds fy, oks Proxy Variable ys
ldrs gSa ftlls mudh lUrqf"V ds ckjs esa irk pyrk gS tks fuEu gS %&
(1) Slack Payment (emolument)
(2) Discretion Investment
(1) Slack Payment :- blesa eSustj ds os lkjs [kpsZ vk tkrs gSa tks dEiuh salary
ds vykok djrh gS tSls vPNk vkfQl] dkj] pijklh] VsyhQksu] dEi;wVj vkfnA ijUrq ;g ekuk
s j dks ;s lqfo/kk,¡ feysa rks og vius vki dks T;knk Prestigious eglwl djsA
tkrk gS fd ;fn eSut
ijUrq buds vHkko esa dksbZ eSustj ukSdjh Hkh ugha NksM+rkA
(2) Discretion Investment :- ;g Proxy variable crkrk gS fd eSustj T;knk
Powerful vius vki dks ml le; le>rk gS tc mlds gkFk esa ,slh dkQh iwath gks ftldks og
eupkgs <ax ls ç;ksx dj ldsA ;g og iwath gksrh gS tks dEiuh ds lkjs ykHk o [kpsZa fudkydj
cprh gSA
vr% Um = f ( Salary, M, Id)
M = Emolument
Id = Discretion Investment
izcU/kd dh mPp mi;ksfxrk ;k fofy;elu dk izcU/kdh; fMLØh'ku ekWMy 203
Williamson us Model 'kq: djus ls igys fuEufyf[kr ifjHkk"kk,¡ yh gSa %&

1. Price function:-
P = f (x, S, E) P = Price
X = oLrq dh ekaxh xbZ ek=kk
S = Staff expenditure
E = Other factors ckgjh rRo
dp
< O vFkkZr P dk X ls Negative lEcU/k gSA
dx
dp
< O vFkkZr P dk S ls Positive lEcU/k gSA
ds
dp
< O vFkkZr P dk C ls Positive lEcU/k gSA
dc
2. Cost Function : C = f (x)
C = Cost
X = Output
dc
> 0 C dk X ds lkFk Positive lEcU/k gSaA
dx
Williamson ds vuqlkj ,d QeZ dh vk; dks fuEufyf[kr Hkkxksa esa ckaV ldrs gSA
1. Actual Profit— π = R−C−S
π = Actual Profit
R = Total Revenue (TR)
C = Total Cost (TC)
S = Staff Expenditure
vr% Actual Profit QeZ dh dqy vk; esa ls dqy ykxr o Staff Expenditure ?kVkus ij
vkrk gSA
πR)—
2. Reported Profit (π πR = π−M
πR = π−M
πR = Actual Profit
πR = R−C−S−M
M = Emolument (Slack payment)
3. Minimum Profit 0—;s os ykHk gS tks Owner dks vo'; nsus iM+rs gSa ugha rks eSustj
dh Job security dks [krjk gksrk gSA blfy, Reported Profit dk Minimum
Profit + Tax ds tksM+ ls cM+k gksuk vko';d gS D;ksfa d ugha rks eSut
s j dh Job dks [krjk gks ldrk
gSA
πR = π0 + T
[T = Tax]
4. Discretionary Investment (Id)—Company dh vk; esa ls ykHk rFkk vU; [kps±

fudkyus ij eSustj ds ikl eupkgs mi;ksx gsrq cph iwathA
Id = πR = π0 − T
vr% Reported Profit esa ls minimum profit o Tax ?kVkus ij cph iwathA
5. Discreationary Profit : (πd) = πd = π − π0 − T
Model : M = 0
Williamson ds vuqlkj ,d eSustj dh mi;ksfxrk dks fuEu rjg n'kkZ ldrs gSa %
Um = f(S Id)
mi;ksfxrk dh 'krs± (i) πR > 0 + T
(ii) Id = πR = π0 − T
blfy, ge Um = f(S, πR = π0 − T) fy[k ldrs gSaA
= Indifference curve dh lgk;rk ls eSustj dh ,d leku lUrqf"V ;k S, Id ds fofHkUu
la;ksxksa dks n'kkZ ldrs gSa %µ
fp=k 1.
js[kkfp=k esa ox ij salary rFkk oy ij Discreationary Profit gSA IC1, IC2, IC3, IC4 pkj
rVLFkrk oØ gSA çR;sd rVLFkrk oØ ij çR;sd fcUnq ij leku lUrqf"V feyrh gS ijUrq Åaps
rVLFkrk oØ ij vf/kd lUrqf"V feyrh gS tcfd çR;sd rVLFkrk oØ ij Id rFkk S ds fofHkUu
la;ksx fcUnq gSA eSustj dks Owner ds Profit dk Hkh è;ku j[kuk iM+rk gS ugha rks mldh ukSdjh
dks [krjk gksrk gSA
π
fp=k 2.
izcU/kd dh mPp mi;ksfxrk ;k fofy;elu dk izcU/kdh; fMLØh'ku ekWMy 205
bl fp=k ds }kjk Li"V gS fd ,d eSustj viuh lUrqf"V ds lkFk&lkFk ekfyd dk Profit

Hkh pkgrk gSA B rVLFkrk oØ ij og 0πd2 ds leku Owner dks Profit ns jgk gSA ysfdu Lo;a
dks [kpZ ds fy, dsoy gh OQ1 gh çkIr gks jgs gSA fQj og mlls Åaps rVLFkrk oØ C ij tkrk
gS ftlls og owner dks vf/kdre ykHk nsdj [kq'k j[krk gS tks 0πd1 gS rFkk og Staff
expenditure ds fy, Hkh igys ls vf/kd feyrk gS tks OQZ gSA ysfdu og vkSj vf/kd lUrqf"V
pkgrk gS tks rVLFkrk oØ D ls mls çkIr gks jgh gS vkSj fcUnq E ij og owner ds 0πd2 Profit
Hkh nsrk gS rFkk Lo;a dks vf/kdre staff expenditure OQ3 çkIr dj jgk gS rFkk lUrq"V Hkh gS
vkSj ekfyd dks Hkh U;wure ykHk çnku dj jgk gSA blfy, mldh ukSdjh dks Hkh [krjk ugha
gSA
QeZ dk lUrqyu
vkykspuk,¡ %&
(1) O. Williamson us dsoy eSustj dh Utility dks fn[kk;k gSA
(2) og dsoy staff expenditure dks gh O;k[;k djrk gS] ckdh [kpks± dks Hkqyk nsrk gSA
(3) eSustj dsoy viuh gh Power, Salary rFkk Prestige dks ns[krk gS] ekfyd dks dsoy
U;wure ykHk gh nsrk gSA
π
fp=k 3.
kµla{ksi esa ge ;g dg ldrs gS fd O. Williamson dh Theory vf/kd lQy ugha

lkjka'kµ
jgh gSA D;ksafd ;s dsoy eSustj dh Utility dks gh ckr djrs gSa vkSj ekfyd ds ykHk ij /;ku
ugha nsrs vkSj u gh oLrqvksa dh ckr djrk gS fd QeZ fdl çdkj dh oLrq,a rS;kj dj jgh gSA
vè;k; 22
lkbVZ ,oa ekpZ dk O;ogkfjd ekWMy
THE BEHAVIOURAL MODEL OF CYERT AND MARCH
O;ogkfjd fl)kUrksa esa Cyert vkSj March ds fl)kUr dks fo'ks"k :i ls fxuk tkrk gSA
muds bl fl)kUr dks] tks 1955 esa ,d vesfjdu tuZyl esa çdkf'kr gqvk Fkk] fuEu eq[; Øe
esa v/;;u djsxsaA
1. QeZ ,sls O;fDr;ksa dk lewg gS ftlesa LokFkZ la?k"kZ pyrk jgrk gSA
2. QeZ ds vUnj fofHkUu lewg fdl çdkj vius ekxZ mís'; (Demand Goal) r; djrs
gSaA
3. mPpre çca/k desVh }kjk QeZ dk mís'; r; djuk& ¼lUrks"ktud O;ogkj½
4. QeZ ds vUnj ik;s tkus okyh fofHkUu Lok;Z çfr}U}rk dk lek/kku djus dh fof/k
& ¼lk/ku½
5. çcU/kd desVh }kjk QeZ ds mís'; r; djus vkSj ykxw djus dh çfØ;k,aA
6. O;ogkj oknh fl)kUr esa vfuf'prrk ds okrkoj.k dk gy
7. vkykspuk,a
1. QeZ ds vUnj LokFkZ la?k"kZ %µ
%µçks0 Cyret and March ds ogq mRikn rS;kj djus okyh
QeZ dh v/;;u djds crkrs gSa ,slh QeksaZ esa fu.kZ; ysus dh çfØ;k esa D;k&D;k eqlhcrsa vkrh
gSaA ,d QeZ esa fofHkUu çdkj ds oxZ tqM+s gq, gksrs gSa vkSj muds fofHkUu mís'; gSa eq[; oxZ&
1. çcU/kd 2. Jfed 3. 'ks;j /kkjh 4. miHkksDrk 5. lIyk;Zl 6. cSad 7. VSDl bUliSDVj bR;kfnA
2. vkdka{kk Lrj% (Aspiration level)—çks0 fl;lZ vkSj ekpZ ds vuqlkj QeZ dk mís';&
QeZ ds lnL;ksa dh ekaxsa ij fuHkZj djrk gSA lnL;ksa dh ek¡x dks çHkkfor djus okys eq[; rRo&
1. vkdka{kk Lrj
2. Hkwrdky esa lQyrk&viuh ek¡x euokus dh
3. mudh vk'kk,a
4. nwljs oxksZa dh lQyrk
5. mudks feyus okyh lwpuk ij
gj oxZ dh ek¡x bruh T;knk gksrh gS ftldks iw.kZ ls lUrq"V ugha fd;k tk ldrkA
blfy, ,d le; vof/k esa gj oxZ viuh lcls egRoiw.kZ ek¡xksa dks gh mPpre çcU/kd ds lkeus
j[krk gSA
ek¡x vkSj Hkwrdky lQyrk essa cgqr xgjk lEcU/k gSA fofHkUu oxksaZ }kjk mBkbZ xbZ lHkh
ek¡xksa dks Hkh iwjk ugha fd;k tk ldrkA fdruh ek¡xksa fdl oxZ dh Lohdkj dj yh xbZ & ;g
muds rd (Baugaring Power ij fuHkZj djrh gS½
3. QeZ dk mís';&lUrks"ktud O;ogkj %µ
1. mRiknu mís';
2. LVkQ mís';
lkbVZ ,oa ekpZ dk O;ogkfjd ekWMy 207
3. fcØh mís';
4. cktkj fgLlk mís';
5. ykHk mís';
QeZ ds mís'; vfUre rkSj ij mPpre çcU/kd }kjk gh r; fd;s tkrs gSaA bu mís'; dks
r; djrs le; f'k[kj çca/ku&tgk¡ rd laHko gks lds] fofHkUu oxksaZ ds la?k"kZ e; mís'; ds iwjk
djus dh dksf'k'k djrk gSA
QeZ çca/ku vf/kdre ykHk dh ctk;&lUrks"ktud laxBu dks T;knk egRo nsrh gSA
ftlesa 1. lUrks"ktud mRiknu 2. lUrks"ktud cktkj dk fgLlk 3. lUrks"ktud ykHk dh nj
4. lUrks"ktud çfr"Bk ¼ns'k esa½ vkfn çkIr gksrh gSA
çks0 fl;VZ vkSj ekpZ ;g Hkh crkrs gSa fd bl çdkj lUrks"ktud O;ogkj& lhfer
foosd'khyrk (bounded Rationality) ds vk/kkj ij fy, tkrs gSaA f'k[kj çcU/kd Global
Rationality esa viuk fu.kZ; ys ldrkA
4. oxksaZ esa vUrnZn dks de djus ds lek/kku %µ f'k[kj çcU/ku ds ikl fofHkUu çdkj
ds ,sls mik; gSa ftlds lkgjs og oxZ la?k"kZ dks de] ;g iw.kZ gy dj ldrh gSA
1. Money Payment
2. Side Payment (Policy Commitment Ingeenieer)
3. Slack Payment.
;s lHkh Slack dk ç;ksx QeZ viuh Performation ds vk/kkj ij ldsxhA
4. Sequential attention of demands.
5. fu.kZ; ysus dh çfØ;kµ
çfØ;kµQeZ esa fu.kZ; ç'kklu ds fofHkUu Lrj ij fy;s tkrs gSaA ge
budks nks Hkkxksa esa ckaVrs gSaA
1. f'k[kj çca/ku ds Lrj ij fy;s x;s fdl oxZ dks fdruk ctV nsuk gSA
(i) Financial Criteria (ii) Improvement Criteria
2. fups ds Lrj ij fy, x;s fu.kZ; (Blue Print)
6. vfuf'prk vkSj QeZ dk O;ogkj dk okrkoj.k%µ
1. tacit collusion
(i) Mantual-Uncertaining
(ii) Competition Uncertaining
7. vkykspuk %µ (Critique)
1. Behavioural theory dk egRoiw.kZ aspect ¼igyw½ ;g gS fd QeZ ds vanj gh lk/kuksa
dk iquZ%cVokjk djrh jgrh gS tcfd ugha gksrsA tcfd goals satisfy ijaijkxr
fl)kUr esa ;g deh ikbZ tkrh FkhA okLro esa ns[kk tk, rks tradtional theory lkèkuksa
ds caVokjksa ds fy, lkjk vFkZO;oLFkk esa market (price) mechanism iwfrZ dh lgk;rk
dhA bl çdkj ;s nksuksa fl)kUr ,d nwljs ls iwjd gSA çfrLFkku ughaA
2. O;; djus esa <hy (slack) dsoy manager dks çnku dh xbZ gS ftldks managerial
stack dgrs gSaA ijarq QeZ ds vU; lnL;ksa dks Hkh slack payments fdl lqfo/kk Hkh
çnku dh tkrh gSA ftlds çHkkoksa dh O;k[;k fl)kUr esa ugha dh xbZA
3. okLro esa ;g QeZ ds O;ogkj dh O;k[;k ugha djrh D;ksafd fdlh QeZ ds particular
action dh O;k[;k fd;s fcuk gh mlds O;ogkj dk v/;;u fd;k x;k gSA
4. Cyert and March us Industry equilibrium dk v/;;u ugha fd;k blfy, QeZ ds
interdependance dh vogsyuk dh xbZ gSA
5. bl fl)kUr esa ckgj ls ços'k djus okyh QeksaZ dh /kedh dks Hkh /;ku esa ugha j[kk
x;k gSA
6. bl fl)kUr esa ,d QeZ okLrfod txr esa fdl çdkj vYif/kdkj ds varxZr dher
vkSj mRiknu dk fuèkkZj.k djrh gSA fd O;k[;k iw.kZ :i ls NksM+ nh xbZ gSA
7. Behaviour theory dk short sighted ¼vYidkyhu½ v/;;u djrh gS ;|fi ;g
fuf'pr gS fd uncertainty of the market dk /;ku term planning esa Hkh j[kk tkrk
gSA ijarq vf/kdrj fu.kZ; long term planning ds varxZr gh fy;s tk ldrs gSaA
blfy, QeZ dh vkykspuk dh xbZ gSA fd dsoy vYidkyhu planning dk gh /;ku
fd;k x;k gSA

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1

,e-,- vFkZ'kkL=k ¼mÙkjk)Z½

nwjLFk f'k{kk funs'kky;

Copyright © 2004, Maharshi Dayanand University, ROHTAK

Maharshi Dayanand University

vè;k; 2: ekax dk vFkZ] çdkj vkSj fu/kkZjd r Ùo 20

vè;k; 3: ekax dh yksp % vFkZ] ekius dh fof/k;ka ,oa çcU/kdh; mi;ksx 40

vè;k; 4: ekax iwokZuqeku % vFkZ] mi;ksx vkSj ekius dh fof/k;k¡ 58

vè;k; 5: ekax iwokZuqeku dh fof/k;ka 69

vè;k; 6: ykxr dh fofHkUu /kkj.kk;sa 84

vè;k; 7: ykxr fl)kUr 93

vè;k; 8: mRiknu Qyu 118

vè;k; 9: ykHk&gkfu fo'ys"k.k 122

vè;k; 10: O;ogkj esa dher&fu/kkZj.k dh fof/k;ka 131

vè;k; 11: lhek&dher fu/kkZj.k dk fl)kUr 151

vè;k; 12: cgq mRikn dher fu/kkZj.k 160

vè;k; 13: oS/kkfud dher 162

vè;k; 14: iwath ctVu dh çÑfr vkSj leL;k,a 164

vè;k; 15: fuos'k dk ewY;kadu 166

vè;k; 16: iwath ds L=kksr 174

vè;k; 17: iwath dh ykxr 176

vè;k; 18: QeZ dk vf/kdre ykHk fl)kar 179

vè;k; 19: fcØh vf/kdre fl)kUr 182

vè;k; 20: larfq yr lao‘f) nj vf/kdre fl)kar 197

vè;k; 22: lkbVZ ,oa ekpZ dk O;ogkfjd ekWMy 206

M.A. Economics (Final)

bl ifjHkk"kk ds vuqlkj çcU/kdh; vFkZ'kkL=k] vFkZ'kkL=k ds fl)kUrksa rFkk O;kikj i)fr;ksa

4. vk£Fkd laca/kksa dk iwokZuqeku (Predicting Economics Relationship)—vFkZ'kkL=k

laosnu'khyrk vkfn ds vk/kkj ij foHkkftr dj cktkj [k.Mksa dh ekax dk vè;;u fd;k tk

Da = f (Pa, Y, Ps, Pc, T, A, Ep, Ey, N, Dn, U)

ekax dk fu;e dh O;k[;k (The Law of Demand)

bldh ekU;rk,a (Its Assumptions)

(7) vlarq"V vko';drk dh larqf"V dh ço‘fÙk (Tendency of Satisfy Unsatisfy

1. ekax esa ifjorZu (Change in Demand)

5.00 1 dher esa deh

(2) ekax dk ldqapu (Contraction of Demand)—vU; ckrsa leku jgus ij tc fdlh

1.00 5 ekax esa o‘f)

5.00 1 ekax esa deh

(v) miHkksDrk _.k cdk;k (Consumer Credit Outstandings)—;gka ,d fopkj.kh;

(vii) vçpyu dh njA

(5) csykspnkj ek¡x vFkok bdkbZ ls de ykspnkj ek¡x (Inelastic Demand)—tc

ek¡x esa çfr'kr ifjorZu

2. ekax iwokZuqeku ds mís';

2. nh?kZdkyhu ekax iwokZuqeku ds mís';

3. iwokZuqeku dh çÑfr (Nature of Forecasting)—iwokZuqeku lkekU; ;k fof'k"V mís';

5. vPNh iwokZuqeku fof/k dh dlkSfV;ka

3. ekylwph fu;a=k.k (Inventory Control)—QeZ dh lQyrk ds fy, mRiknu&çfØ;k

7. ekax iwokZuqeku dh lhek,a

4. QS'ku (Fashion)—QS'ku esa ifjorZu fodkl dk LokHkkfod y{k.k gSA lH;rk dk

8. uohu oLrqvksa ds fy, ekax iwokZuqeku

Demand Forecasting Method

Survey Method Statistical Method

(1) Survey Method

fufgr ykxrsa (Implicit Costs)

vYidkyhu vof/k og vof/k gksrh gS ftlesa mRiknu ds de&ls&de ,d lk/ku dh iw£Ùk

7. vR;ko';d vkSj LFkxu ;ksX; ykxrsa (Urgent and Postponable Costs)

cpkus ;ksX; ykxrsa os gSa tks O;olk; dh fØ;kvksa esa ladp

ykxr&mRiknu laca/k dh ijaijkxr vkSj vk/kqfud ykxrksa ds fl)karksa }kjk vYidkyhu