Sample PDF Of Std 11th Economics . - Target Publications

F.Y.J.C.TENECONOMICSTSMART NOTESMAHARASHTRA STATE BOARD(As per the revised syllabus w.e.f. Academic Year 2019-20)O Based on the new textbookNSalient Features: Exhaustive content coverage in Question & Answer formatC Answers presented in an examination ready format ‘Smart Codes’ and ‘Smart Recaps’ to memorize answers ‘For your understanding’ section aids conceptual clarityE Includes GG - our very own mascot that offers a practical touch to theory Includes QR codes for reference content Replete with practical and real life examplesPL Highlighted key words and sentences that aid recall as well as revisionPrinted at: Repro India Ltd., MumbaiSAM Chapterwise Index to help you understand the coverage of entire chapter Target Publications Pvt. Ltd.No part of this book may be reproduced or transmitted in any form or by any means, C.D. ROM/Audio Video Cassettes or electronic,mechanical including photocopying; recording or by any information storage and retrieval system without permission in writing from the Publisher.Balbharati Registration No.: 2018MH0022P.O. No. 186619TEID: 13671

PREFACEEconomics ‘Smart Notes’ is a book curated to facilitate learning & instil conceptualTunderstanding within students. This treasure trove of knowledge fosters robustconceptual clarity and inspires confidence within the nimble mind of young learners.TENThis book not only provides answers to all textual questions but also addresses extraquestions in each lesson with the aim of covering the entire topic and makingstduents ready to face the competition. Throughout this book, questions are answeredin a detailed, point-wise format which makes it easier for students to memorize andreproduce the answers in their examination.We have incorporated ‘Smart Codes’ to facilitate easy answer recall. In case ofcomplex questions, we have provided ‘Smart Recap’ for quick recap of that question.N‘For your understanding’ section offers additional information on a topic. This isrequired for conceptual clarity but need not be written in an examination. ‘GyanOGuru’, our very own mascot, offers a practical touch to theory by sharing interesting& real facts. ‘QR codes’ present throughout the book offer students practicalknowledge through reference content. We’re sure that students, parents and teachersCalike would love our value propostion and unique presentation of content that wehave created for students in this book.The journey to create a complete book is strewn with triumphs, failures and nearEmisses. If you think we’ve nearly missed something or want to applaud us for ourPLtriumphs, we’d love to hear from you.SAMPlease write to us at : mail@targetpublications.orgDisclaimerThis reference book is transformative work based on textual contents published by the Maharashtra State Board of Secondary and Higher Secondary Education. Wethe publishers are making this reference book which constitutes as fair use of textual contents which are transformed by adding and elaborating, with a view tosimplify the same to enable the students to understand, memorize and reproduce the same in examinations.This work is purely inspired upon the course work as prescribed by the Maharashtra State Board of Secondary and Higher Secondary Education, Pune. Every care hasbeen taken in the publication of this reference book by the Authors while creating the contents. The Authors and the Publishers shall not be responsible for any lossor damages caused to any person on account of errors or omissions which might have crept in or disagreement of any third party on the point of view expressed inthe reference book. reserved with the Publisher for all the contents created by our Authors.No copyright is claimed in the textual contents which are presented as part of fair dealing with a view to provide best supplementary study material for the benefit ofstudents.

Why to study Economics?Apart from the basic objective of doing well in your exams, there are various reasonsfor studying Economics:Economics is something that you experience on a daily basis. Studying this subjectT1.will solve a lot of your unsolved questions. Also, it will make you more aware about3.TEN2.the world you live in.It helps you understand human economic behaviour in a better manner. Why aperson reacts in a certain manner in a particular economic situation is clearlyexplained in various economic laws.It explains simple things like why you save, why is a product priced at X, whyis rent higher at certain places compared to another, why is the price of twosubstitute products similar, why do interest rates keep changing, why do we needNWe always criticize the government for its various policies but the governmentalso has certain objectives and certain limitations. Economics helps youO4.banks, what causes recession, what causes inflation etc.understand and analyze from the other side.Economics is going to be with you all through your academic life. Hereafter, anyECcourse related to commerce that you select will include Economics as a subject.PLHow to study from this book ?This book is divided into the following parts:i)Theory questionsii)Interpretative based questions.MTheory questionsQuestions covered in theory section are in the flow of textbook. Thus, once you read allthe questions, it’s as good as reading an entire chapter from the textbook. We adviseSAyou to study from this section first.Interpretative based questionsThis section is at the end of the theory section. Questions covered in this section areeither objectives or application-based questions. Once you have read and understood thetheory, you are better equipped to solve and answer these questions. We have alsoprovided answers for you to enable self-evaluation.

The book is rife with bits of value addition. Take a look further to understanding it.Smart CodeSMART CODE P U R S E1)POPULATION EXPLOSIONTPopulation explosion is a situation where thegrowth of population is faster than the growthand development of the economy. It results inunequal distribution of resources among people.Ultimately, unequal distribution among therapidly growing population results in deprivationof basic facilities and caused widespread poverty.TENAt times, answers are too lengthy and it’s difficult toremember all the points. Hence, we have created smartcodes for a few questions to aid you in rememberingand recollecting these points. Please do not memorizeeach and every smart code. Instead of helping, it mightend up confusing you. Memorize only those smart codeswherein you find the answer difficult to comprehend.G I V OSmart RecapDeath rateFirstVery highVery highSecondPopulationgrowth rateRemains high Declines rapidlyFor Your UnderstandingLowHighIn theory subjects, at times, answers are quitelong and complex. It’s difficult to remember theentire answer. Hence, we have provided smartrecap i.e. summary of the entire answer forstudents to revise it immediately.NBirth rateOStagePLECCertain concepts are tricky and difficult to understandwith a limited amount of explanation. To explain theseconcepts efficiently, we have provided a section named‘For your understanding’ that provides better conceptualclarity. Please note that the content provided in thissection need not be written in the examination. This ispurely for conceptual understanding.FOR YOUR UNDERSTANDINGSAMOn 8th November 2016, at8.15pm IST, our Prime Minister announcedthe demonetization of all 500 and 1000 banknotes of the Mahatma GandhiSeries. He also announced the issuance ofnew 500 and 2000 banknotes inexchange for the demonetized banknotes.QR CodesEconomics has numerous real-life applications.Various forms, notices, documents mentioned in . We have given such data via QRcodes for better understanding of the subject.Suppose, Bholaram, a farmer, has one land of 1000sq.m. He has three sons A,B, and C who work onthe farm with him. All four of them jointly produce500 quintals of rice. Now, Bholaram’s fourth son Dalso joins them on the farm. Inspite of him joininingthem, the production remains 500 quintals only. Inthis case, we can say that D is disguisedlyunepmloyed.GG – Gyan GuruGyan Guru, our very own mascot, keeps poppingup throughout the book. He offers you a practicaland real-life example or an interesting fact,associated with the topic. Look out for him![Note: Scan the adjacent QRcode to view Bill Gates'session at NITI Lectures.]

Variety of questions coveredComplete the correlation.Find the odd word out.Suggest an economic term for the given statements.E.F.G. NANA Solve the following. Note : All the above variety of questions are a part of textbook. T Answer the following questions on the basis of following data. NA Ch.10 NANA Ch.9Observe the chart and answer the following questions. NA Ch.8 NA Ch.7TEN NANA Ch.6 NANA Ch.5Read the following passage and answer the questions given below/Answer the following questions on the basis of following information. NA N NA Ch.4 O NA Ch.3Ch.2Ch.1State with reasons whether you agree or disagree with the followingstatements.Identify and explain the concepts from the given illustrations.Choose the correct pair/ Choose the wrong pair.CD.Choose the correct option.A.Objective sectionComplete the following statements by choosing the correct alternative.Activities from textbook4.C.Solve the following.3.Assertion and reasoning - Choose the correct answer from thefollowing.Distinguish between.2.Theory sectionB.Answer the following in detail.EPLNature of Question1.No.Sr.The new syllabus has thrown a lot :of new types of questions. In this book, you will be studying below types of questions:MSA

7.8.9.10.MoneyPartition ValuesThe Economy of MaharashtraRural Development in India16617255176851879919477Population in IndiaUnemployment in IndiaPoverty in India1830N5.6.Basic Concepts in EconomicsO3.4.Page No.(Objectives)161Economic Policy of India Since 1991Economic Planning in IndiaNote: i.ii.181113201132206145213C2.Page No.(Theory)1All Textual questions are represented by (T) mark.At the start of each chapter, we have provided a chapter index to enableE1.TitlesTENSr. NO.TINDEXthe students to get an overview of the chapter as well as to mark thePLnumber of times they have read or studied every question by way ofSAMcolumns named Read 1, Read 2 and Read 3 against each question.

3.4.5.6.7.8.tendencies. Explain.Economics is a social science. Explain.Write about Kautilya’s views on Economics.What are the key points of Adam Smith’sdefinition?How are Alfred Marshall’s and Lionel Robbins’definitions of Economics different from eachother?Explain in brief the basic concepts of MicroEconomics.Explain the characteristics of human wants. (T)What is a want? How are wants classified?11.What are the various types of income?E10.Explain in detail the types of economic activities.Explain the basic concepts of Macro Economics. (T)PL12.13.Tthey are only statements of general humanWhat is the difference between ‘value-in-use’ and‘value-in-exchange’?Explain the features of wealth. (T)9.READ 2 READ 3TEN2.The laws of social sciences are not universal butREAD 1N1.PARTICULARSOSR. NO.Basic Concepts in EconomicsC1Chapter 1: Basic Concepts in Economics14.M15.Difference betweena. Economic Growth and Economic DevelopmentActivities from TextbookINTRODUCTIONSAThe subject of ‘Economics’ deals with the economic aspect of human behaviour.Therefore, all financial/monetary decisions that we take are influenced by Economics.“Main itna paisa dunga toh saamne mujhe kitne ke value ka product ya service milega”is a thought that passes our mind every time we pay for something. Don’t we alwaystry to find an equilibrium between the amount we pay and the value we get? Thisbeautiful subject of Economics is going to help you answer a lot of such questions. Asa student of commerce, this subject is going to be with you all your life.1