Home UP BOARD Question Papers NCERT Solutions CBSE Papers CBSE Notes NCERT Books Motivational

Introduction to Economic Notes class 11 Download in PDF

Introduction To Economic Notes Class 11 Download In PDF

Chapter 1 Introduction

Introduction to Economic Notes
class 11 Download in PDF

IMPORTANT CONCEPTS

1. Meaning of Statistics in plural sense :– It is a collection of numerical facts.
2. Meaning of Statistics in Plural Sense :– It deals with the collection, presentation, analysis and interpretation of quantitative information.
3. Definition of statistics in Plural Sense :– It means aggregate of facts affected to a marked extent of multiplicity of causes numerically expressed, enumerated or estimated according to reasonable standard of accuracy, collected in a systematic manner for predetermined purpose and placed in relation to each other.
4. Consumer :– A person who buys goods and services for the satisfaction of human wants.
5. Producer :– A person who produces goods.
6. Service holder :– A person who is working or in a job and gets paid for it.
7. Service Provider :– A person who gives services to others for a payment.
8. Economic activity :–
Activities undertaken for monetary gain or to earn income.


9. Economics is divided into three parts :


a] Consumption
b] Production
c] Distribution


10. Consumption :


In consumption, we study wants, their origin, nature and characteristics and the laws governing them.


11. Production :


It refers to all activities which are undertaken to produce goods and services for generation of income and satisfaction of wants.


12. Distribution :


Economic activity which studies how income generated from the production process is distributed among the factors of production.


13. Data :


Economic facts in terms of numbers.


14. Importance of Statistics :


Statistics is widely used in many fields.
a] Importance to the Government :– Statistics is used in administration and efficient functioning of departments. It collects data to fulfill its welfare objectives.
b] Importance of Statistics in Economics :-

1] Statistics helps in making economic laws like law of demand and concept of elasticity.
2] It helps in understanding and solving economic problem.
3] It helps in studying market structure.
4] It helps in finding mathematical relations between variables. 


Ecco Introduction to Economic Notes


Please send your queries to ncerthelp@gmail.com you can aslo visit our facebook page to get quick help. Link of our facebook page is given in sidebar


Class and Subject List

Ncert Solution for class 6 to 12 download in pdf

CBSE Model test papars Download in pdf

NCERT Books Free Pdf Download for Class 5, 6, 7, 8, 9, 10 , 11, 12 Hindi and English Medium

Mathematics Biology Psychology
Chemistry English Economics
Sociology Hindi Business Studies
Geography Science Political Science
Statistics Physics Accountancy

CBSE Syllabus Class 6 to 9, 10, 11, 12 Maths, Science, Hindi, English ...

Last year CBSE Question paper for Class 6 to 9, 10, 11, 12 Maths, Science, Hindi, English ...

Important Links

Follow Us On

Face book page ncerthelp twitter page youtube page linkdin page

NCERT CBSE News

NCERT CBSE News

Please Share this webpage on facebook, whatsapp, linkdin and twitter.

Facebook Twitter whatsapp Linkdin

Copyright @ ncerthelp.com A free educational website for CBSE, ICSE and UP board.