CBSE Revision Notes for Class 11 Economics
CBSE Revision Notes for Class 11 Economics
Download CBSE Revision Notes for CBSE Class 11 Economics Introduction to Microeconomics & Central Problems Meaning of microeconomics and macroeconomics What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.
Download CBSE Revision Notes for CBSE Class 11 Economics Consumer’s Equilibrium - Utility & Indifference Curve Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis. Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium. Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand - (a) percentage change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.
Download CBSE Revision Notes for CBSE Class 11 Economics Production Function & Returns to a Factor Production function –Short-Run and Long-Run Total Product, Average Product and Marginal Product. Returns to a Factor Cost: Short run costs - total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships. Revenue - total, average and marginal revenue - meaning and their relationships. Producer's equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - (a) percentage-change method and (b) geometric method.
Download CBSE Revision Notes for CBSE Class 11 Economics Forms of Market Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply. Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features. Simple Applications of Demand and Supply: Price ceiling, price floor.
Download CBSE Revision Notes for CBSE Class 11 Economics Introduction to statistics What is Economics? Meaning, scope and importance of statistics in Economics.Economics is a science that studies human behavior as a relationship between ends and scarce means which have alternative uses. Scarcity means shortage of goods and resources in relation to their demand.
Download CBSE Revision Notes for CBSE Class 11 Economics Collection of Data Collection of data - sources of data - primary and secondary; how basic data is collected, with concepts of Sampling; methods of collecting data; some important sources of secondary data: Census of India and National Sample Survey Organisation.
Download CBSE Revision Notes for CBSE Class 11 Economics Organisation of Data classify the data for further statistical analysis- distinguish between quantitative and qualitative classification, prepare a frequency distribution table, know the technique of forming classes, be familiar with the method of tally marking, differentiate between univariate and bivariate frequency distributions.
Download CBSE Revision Notes for CBSE Class 11 Economics Presentation of Data Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data: (i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon and ogive) and (iii) Arithmetic line graphs (time series graph).
Download CBSE Revision Notes for CBSE Class 11 Economics Measures of Central Tendency Measures of Central Tendency- Merits of Arithmetic mean, Demerits of Arithmetic mean, Merits of Median, Demerits of median, Merits of mode, Demerits of mode, Relation among mean, median and mode, Graphic representation of mode.
Download CBSE Revision Notes for CBSE Class 11 Economics Correlation Correlation - meaning, scatter diagram; Measures of correlation - Karl Pearson's method (two variables ungrouped data) Spearman's rank correlation.
Download CBSE Revision Notes for CBSE Class 11 Economics Introduction to Index Number Introduction to Index Numbers - meaning, types - wholesale price index, consumer price index and index of industrial production, uses of index numbers; Inflation and index numbers.
