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How to Study Economics for Class 11

Author : Palak Khanna

March 3, 2022

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Economics is one of the most challenging subjects for students in class 11. Hence, following the expert preparation tips will help candidates to enhance their economics preparation and better succeed in the exam. Candidates appearing for the class 11 exams can go through the post to know How to study Economics for Class 11.

How to Study Class 11 Economics at Home?

Before starting the preparation, candidates are advised to go through the detailed Class 11 Economics Syllabus as this will help them know the important topics from the exam point of view. After knowing the syllabus, candidates must collect the required study material and books that cover all the topics as per the latest syllabus.

  • Candidates are advised to read, understand, and learn all the topics given in the NCERT books. This will help enhance your preparation levels for the upcoming exam.
  • Try to avoid mugging up formulas. Instead, understand how the formula is derived and what purpose it is made for as this will help you memorize all the formulas.
  • Candidates are advised to solve Class 11 Economics Sample Papers to know the difficulty level of the paper and the type of questions asked in the exam.
  • Make sure to prepare your own notes for each chapter including definition, important points, formulas, relationships between different economics variables. Also, mark the important points with different colours pen while making the notes as this will help during your revision time.

cbse 11th commerce syllabus

cbse 11th commerce syllabus

Economics Class 11 Study Time Table 

Candidates must note that the economics syllabus of class 11 is broadly divided into 3 sections: Statistics for Economics, Introductory Microeconomics, and project word.  Therefore, candidates must make a time table that covers all these three sections. Candidates are advised to prepare economics subject for 3 days in a week. To ease out your preparation, we have provided the study time table for class 11 Economics here. Go through the time table and know how to better prepare for the exam.

Unit Topics No. of Days
Unit 1 Introduction to Economics 1
Unit 2 Collection, Organisation, and Presentation of data 3
Unit 3 Statistical Tools and Interpretation 3
Unit 4 Introduction to Micro Economics 1
Unit 5 Consumer's Equilibrium and Demand 3
Unit 6 Producer Behaviour and Supply 2
Unit 7 Forms of Market and Price Determination under Perfect Competition with simple applications 3

Important Topics from Class 11 Economics

Knowing the important topics will help candidates to focus more on those topics in order to score the highest marks in the exam. Here, we have provided some of the important topics that candidates need to be prepared from each chapter of class 11 Economics.

  • Indian Economy on the Eve of Independence
  • Indian Economy (1950-1990)
  • Liberalization, Globalization, and Privatization
  • Poverty
  • Human Capital Formation in India
  • Rural Development
  • Employment Growth
  • Informalization and other issues
  • Environment and Sustainable Development
  • Comparative development Experiences Of India and Its Neighbours
  • Current Challenges Facing the Indian Economy
  • Infrastructure

cbse syllabus for 11th commerce

cbse syllabus for 11th commerce

Expected Questions from Class 11 Economics

Candidates can go through some of the expected questions of class 11 economics from the post below and know what type of questions can be asked in the exam. Here is the list of Class 11 Economics Important Questions that candidates must refer to perform well in the exam.

Q) Write a note on Zamindari system in India?

Ans: Zamindari system was introduced by Lord Cornwallis in India, in the year 1793 via the Permanent Settlement Act (PSA). It was introduced in the provinces of Varanasi, Bihar, Bengal, and Orissa. The Zamindars were considered and recognized as the landlords as long as they paid the revenue to the East India Company regularly.

Q) “An economy always produces on, but not inside, a PPC”, Defend or refute the statement.

Ans. The given statement is refuted. An economy operates on PPF, only when resources are fully and efficiently utilized, which means, if there is unemployment or inefficient use of resources, then the economy may operate inside the PPC.

Q) What is a microcredit program?

Ans: Microcredit programs refer to the credit provision made by the self-help groups to its members and the person involved in it id=s know as microcredit programmes.

Q) What are the three sources that collect data on unemployment?

Ans: 

  • Census reports of India
  • National sampler survey organization reports of employment and unemployment situations
  • Directorate general of employment and training date of registration with employment exchange.

Q) What is formal sector employment?

Ans: A formal sector employment comprises of the job having normal working hours and regular wages and certified as income sources on which income taxes should be paid.

Q) “Law of Demand is a Qualitative statement”. Comment?

Ans: Law of demand is only an indicative, and not a quantitative statement. It indicates only the direction, in which the demand will change with a change in price. It says nothing about the magnitude of such a change. For example, the price of Pepsi rises from  Rs.10 to  Rs.12 per bottle, then, as per the law of demand, we can say that the demand for Pepsi will fall. But the law does not give the actual amount by which the demand for Pepsi will decline.

Q) ‘Supply curve is the rising portion of the marginal cost curve over and above the minimum of Average Variable cost curve’. Do you agree? Support your answer with a valid reason.

Ans: Yes, we do agree with the given statement. No rational producer would like to supply his output to the market if he is unable to recover his per unit variable cost as it would lead to losses between the range of a minimum of marginal cost and minimum of average variable cost.

Frequently Asked Questions

Begin your preparation by studying from the right class 11Economics books which covers all the concepts and topics according to the latest exam pattern and syllabus 2020. One of the best methods to score more marks in the exam is to practice as many previous year question papers as possible and taking up mock tests.

The following are some of the best books for the preparation of Class 11 Economics syllabus.

  • Economic Statistics by NCERT Class 11th Economics Book
  • Indian Economic Development by NCERT Class 11th Economics Book
  • Introductory Microeconomics for Class 11 by Sandeep Garg
Yes. Practicing Oswaal sample papers for economics class 11 will help candidates to know the difficulty level of the paper and type of questions asked in the exam.
Yes. Solving Class 11 Economics Sample Papers would definitely help students to score better in the exam.
  • Home
  • How to Study Economi...

How to Study Economics for Class 11

Author : Palak Khanna

Updated On : March 3, 2022

SHARE

Economics is one of the most challenging subjects for students in class 11. Hence, following the expert preparation tips will help candidates to enhance their economics preparation and better succeed in the exam. Candidates appearing for the class 11 exams can go through the post to know How to study Economics for Class 11.

How to Study Class 11 Economics at Home?

Before starting the preparation, candidates are advised to go through the detailed Class 11 Economics Syllabus as this will help them know the important topics from the exam point of view. After knowing the syllabus, candidates must collect the required study material and books that cover all the topics as per the latest syllabus.

  • Candidates are advised to read, understand, and learn all the topics given in the NCERT books. This will help enhance your preparation levels for the upcoming exam.
  • Try to avoid mugging up formulas. Instead, understand how the formula is derived and what purpose it is made for as this will help you memorize all the formulas.
  • Candidates are advised to solve Class 11 Economics Sample Papers to know the difficulty level of the paper and the type of questions asked in the exam.
  • Make sure to prepare your own notes for each chapter including definition, important points, formulas, relationships between different economics variables. Also, mark the important points with different colours pen while making the notes as this will help during your revision time.

cbse 11th commerce syllabus

cbse 11th commerce syllabus

Economics Class 11 Study Time Table 

Candidates must note that the economics syllabus of class 11 is broadly divided into 3 sections: Statistics for Economics, Introductory Microeconomics, and project word.  Therefore, candidates must make a time table that covers all these three sections. Candidates are advised to prepare economics subject for 3 days in a week. To ease out your preparation, we have provided the study time table for class 11 Economics here. Go through the time table and know how to better prepare for the exam.

Unit Topics No. of Days
Unit 1 Introduction to Economics 1
Unit 2 Collection, Organisation, and Presentation of data 3
Unit 3 Statistical Tools and Interpretation 3
Unit 4 Introduction to Micro Economics 1
Unit 5 Consumer's Equilibrium and Demand 3
Unit 6 Producer Behaviour and Supply 2
Unit 7 Forms of Market and Price Determination under Perfect Competition with simple applications 3

Important Topics from Class 11 Economics

Knowing the important topics will help candidates to focus more on those topics in order to score the highest marks in the exam. Here, we have provided some of the important topics that candidates need to be prepared from each chapter of class 11 Economics.

  • Indian Economy on the Eve of Independence
  • Indian Economy (1950-1990)
  • Liberalization, Globalization, and Privatization
  • Poverty
  • Human Capital Formation in India
  • Rural Development
  • Employment Growth
  • Informalization and other issues
  • Environment and Sustainable Development
  • Comparative development Experiences Of India and Its Neighbours
  • Current Challenges Facing the Indian Economy
  • Infrastructure

cbse syllabus for 11th commerce

cbse syllabus for 11th commerce

Expected Questions from Class 11 Economics

Candidates can go through some of the expected questions of class 11 economics from the post below and know what type of questions can be asked in the exam. Here is the list of Class 11 Economics Important Questions that candidates must refer to perform well in the exam.

Q) Write a note on Zamindari system in India?

Ans: Zamindari system was introduced by Lord Cornwallis in India, in the year 1793 via the Permanent Settlement Act (PSA). It was introduced in the provinces of Varanasi, Bihar, Bengal, and Orissa. The Zamindars were considered and recognized as the landlords as long as they paid the revenue to the East India Company regularly.

Q) “An economy always produces on, but not inside, a PPC”, Defend or refute the statement.

Ans. The given statement is refuted. An economy operates on PPF, only when resources are fully and efficiently utilized, which means, if there is unemployment or inefficient use of resources, then the economy may operate inside the PPC.

Q) What is a microcredit program?

Ans: Microcredit programs refer to the credit provision made by the self-help groups to its members and the person involved in it id=s know as microcredit programmes.

Q) What are the three sources that collect data on unemployment?

Ans: 

  • Census reports of India
  • National sampler survey organization reports of employment and unemployment situations
  • Directorate general of employment and training date of registration with employment exchange.

Q) What is formal sector employment?

Ans: A formal sector employment comprises of the job having normal working hours and regular wages and certified as income sources on which income taxes should be paid.

Q) “Law of Demand is a Qualitative statement”. Comment?

Ans: Law of demand is only an indicative, and not a quantitative statement. It indicates only the direction, in which the demand will change with a change in price. It says nothing about the magnitude of such a change. For example, the price of Pepsi rises from  Rs.10 to  Rs.12 per bottle, then, as per the law of demand, we can say that the demand for Pepsi will fall. But the law does not give the actual amount by which the demand for Pepsi will decline.

Q) ‘Supply curve is the rising portion of the marginal cost curve over and above the minimum of Average Variable cost curve’. Do you agree? Support your answer with a valid reason.

Ans: Yes, we do agree with the given statement. No rational producer would like to supply his output to the market if he is unable to recover his per unit variable cost as it would lead to losses between the range of a minimum of marginal cost and minimum of average variable cost.

Frequently Asked Questions

Begin your preparation by studying from the right class 11Economics books which covers all the concepts and topics according to the latest exam pattern and syllabus 2020. One of the best methods to score more marks in the exam is to practice as many previous year question papers as possible and taking up mock tests.

The following are some of the best books for the preparation of Class 11 Economics syllabus.

  • Economic Statistics by NCERT Class 11th Economics Book
  • Indian Economic Development by NCERT Class 11th Economics Book
  • Introductory Microeconomics for Class 11 by Sandeep Garg
Yes. Practicing Oswaal sample papers for economics class 11 will help candidates to know the difficulty level of the paper and type of questions asked in the exam.
Yes. Solving Class 11 Economics Sample Papers would definitely help students to score better in the exam.

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