Commerce Study™

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✅ Useful Commerce Abbreviations ✅️ ASSOCHAM: Associated Chambers of Commerce and Industry of India VAT: Value Added Tax UNCTAD: United Nations Conference on Trade and Development TDS: Tax Deduction at Source TIN: Tax Information Network TAN: Tax Deduction and Collection Account Number STT: Securities Transaction Tax SDR: Special Drawing Rights RTP: Reverse Tranche Position PAN: Permanent Account Number OLTAS: Online Tax Accounting System NYSE: New York Stock Exchange NSDL: National Securities Depository Limited NAV: Net Asset Value NASDAQ: National Association of Securities Dealers Automated Quotation IPO: Initial Public Offering IMF: International Monetary Fund GDR: Global Depositary Receipt GATT: General Agreement for Trade and Tariff FPO: Follow-on Public Offer FII: Foreign Institutional Investors FICCI: Federation of Indian Chambers of Commerce and Industry FDI: Foreign Direct Investment FCCB: Foreign Currency Convertible Bond ECB: External Commercial Borrowing DICGC: Deposit Insurance and Credit Guarantee Corporation of India CPI: Consumer Price Index CII: Confederation of Indian Industries BIS: Bureau of Indian Standards BSR: Basic Statistical Return ASBA: Application Supported by Blocked Amount INC.: Incorporated GP: Gross Profit FOC: Free of Cost DISC: Discount CSR: Corporate Social Responsibility CPU: Cost Per Unit CIF: Cost Insurance and Freight C&F: Cost and Freight ADR: American Depository Receipt BEP: Break Even Point CPA: Certified Public Accountant COGS: Cost of Goods Sold CCS: Cash Compensatory Scheme FOB: Freight on Board IFCI: Industrial Finance Corporation of India LLP: Limited Liability Partnership MRTP: Monopoly and Restrictive Trade Practices NOI: Net Operating Income PSU: Public Sector Undertakings

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✅️ DATA OF INDIAN ECONOMICS ✅️ 1757 - Battle of Plassey 1869 - Suez canal 1881 - First census 1921 - Year of great divide 1907 - TISCO 1850 - Introduction of railways 1853 - First train in India 1966 - Green revolution 1948 - First industrial policy 1956 - Second IPR 1955 - Small scale industries 1991 - NEP 2017 - GST 2016 - Demonetisation 1948 - GATT 1995 - WTO & NSAP 2014 - Make in India & Jhan dhan yojna 2001 - Removal of Quotas 1962 - Study group by PCI 1979 - Task Force group 1989 - Expert group 2008 - PMEGP 2004 - NFFWP 2005 - MGNREGA 1964 - Education commission 2009 - Right to Education Act 1998 - Tapas Majumdar committee 1969 - Institutional sources for credit 1982 - NABARD 1970 - Operation flood (White revolution) & MRTP Act 1991 to 2012 - Golden revolution 2005 - NREG Act 2013 - Montreal protocol 1974 - CPCB 1980 - IUCN CHINA 1949 - Independence 1953 - First five year plan 1978 - Economic reforms 1965 - Great proletarian cultural revolution 1958 - Great leap forward campaign PAKISTAN 1947 - Independence 1956 - First five year plan 1988 - Economic reforms Early1970's - Nationalisation of capital goods Late 1970's - Denationalisation & financial support

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📢 ICAI Result Update 📢 The ICAI September 2025 exam results will be announced on 3rd November 2025. All the best 👍

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After the huge success of MBA Chaiwala, I will open an outlet with name - CA Daaruwala 🥃

✅ List of Abbreviations Used in Economics ✅️ 📍Unit 1. Introduction PPF: Production Possibility Frontier PPS: Production Possibility Set PPC: Production Possibility Curve IC: Indifference Curve 📍Unit 2. Consumer’s Equilibrium and Demand MRS: Marginal Rate of Substitution MRT: Marginal Rate of Transformation TU: Total Utility MU: Marginal Utility ED: Elasticity of Demand ES: Elasticity of Supply 📍Unit 3. Producer Behaviour and Supply TP:  Total Product AP:  Average Product MP:  Marginal Product TC:  Total Cost TVC:  Total Variable Cost TFC:  Total Fixed Cost MC:  Marginal Cost SAC:  Short-Run Average Cost SMC:  Short-Run Marginal Cost AFC:  Average Fixed Cost AVC:  Average Variable Cost LRAC:  Long-Run Average Cost LRMC:  Long-Run Marginal Cost RTS:  Returns to Scale IRS:  Increasing Returns to Scale CRS:  Constant Returns to Scale DRS:  Diminishing Returns to Scale TR: Total Revenue AR: Average Revenue MR:  Marginal Revenue MRPL: Marginal Revenue Product of Labour VMPL: Value Marginal Product of Labour

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