Detailed notes of Micro economic chapter 1 class 11
This chapter explains the basic concepts of micro economics, focusing on individual economic units like consumers and producers. It covers key ideas such as scarcity, choice, opportunity cost, central problems of an economy, factors of production, utility, and production possibility curve. The chapter builds a strong foundation for understanding how resources are allocated at the micro level and is essential for exam preparation.
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Description
The chapter covers all fundamental concepts such as meaning of economics, micro economics, scarcity, choice, central problems of an economy, factors of production, utility, opportunity cost, production possibility curve (PPC), and types of goods. Definitions are written in exam-oriented format, with proper headings, examples, and tables to help students score better.
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