CBSE Class 11 Economics Notes: Key Concepts, Theories, & More

Economics is an important subject to learn and understand properly to build a strong foundation in Class 11. Market and supply are the main things in Economics that need thorough learning, not rote memorisation.

Learning CBSE Class 11 Economics Notes is an essential step towards understanding the basic principles of economics. With a syllabus that is all-rounded for Statistics of Economics and also introduces Microeconomics, these notes are very helpful to students planning to do well in their exams and improve their comprehension of economics.

Key Concepts of Economics Class 11

1. PART A - Statistics for Economics
   • Introduction: Get a general knowledge of statistics and economics, acquiring yourself for an advanced study.
   • Collection, Organisation, and Presentation of Data: Develop ways for collecting, organising, and displaying economic information through the oath of reliability, truthfulness, and precision in analysis.
   • Statistical Tools and Interpretation: Take advantage of tools and methods of statistics and make the right decisions based on facts, being an able analyser.
2. PART B - Introductory Microeconomics
   • Introduction: This course will dive deep into the fundamental concepts of microeconomics, such as demand and supply theory, market structures, and price determination.
   • Consumer's Equilibrium and Demand: Understand consumer behaviour, utility analysis, and the variables that affect demand, which later influences the consumer equilibrium stage.
   • Producer Behaviour and Supply: Study the behaviour of commodity firms, cost analysis, and the determinants of supply, which will teach you much about producer equilibrium.
   • Forms of Market and Price Determination Under Perfect Competition with Simple Applications: Analyse various market structures while applying perfect competition and explanation of its influence on the determination of price as a practical angle to be considered.