Concept Explanations for Class 11 – Economics
Microeconomics Chapter – Economics & Economy Introduction to Economics Macroeconomics v/s Microeconomics Positive v/s Normative Economics What is an Economy? Different types of economy
Macroeconomics
Scope and Significance of Macroeconomics
What is the scope of Macroeconomics? Mnemonic – National Government se poocho – kese dhunde job or kese kamaye pesa –India me Price ki maar aur International m Exchange Rate ki (Scope and Significance of Macroeconomics) Scope = Field or area of study Scope of Macroeconomics answers these 2 questions- How an economy function? How …
How Macroeconomics differs from Microeconomics?
What is Microeconomics? The term “Micro” is derived from the Greek term “Mikros” which means small. (How Macroeconomics differs from Microeconomics?) Here, ‘small‘ means an individual economic unit. Microeconomics is defined as that branch of economics that studies economic issues or economic problems at the level of an individual like a consumer or a producer. …