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Economics Revision Notes for Class 11

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Notes of CBSE Economics Class 11 - Free PDF Download

The NCERT or CBSE books for Class 11 Economics cover topics like Poverty, Unemployment, etc. in detail. These topics need to be adequately understood to not only perform better in Class 11 exams but also other competitive exams. For that, all you need is the Class 11 Economics Revision Notes. These notes are prepared by subject experts according to the latest NCERT syllabus and CBSE guidelines. Class 11 economics notes not only help students to revise the crucial topics before the exam but also help them in understanding the complex concepts covered in the syllabus in simple terms.

Detailed Overview of Class 11 Economics Revision Notes

Class:

11

Subject:

Economics

Number of Chapters:

10

Content Type:

Text, Videos, Images and PDF Format

Academic Year:

2024-25

Medium:

English

Available Materials:

Chapter Wise

Other Materials

  • Important Questions

  • NCERT Solutions


Revision Notes Covered under CBSE Class 11 Economics are:


CBSE Class 11 Economics Revision Notes

Indian Economic Development Notes

Economics Class 11 Revision Notes- Free PDF Download

Economics Class 11 revision notes are available in the PDF format, to download for free, from Vedantu's official website or mobile app. Revision notes of Class 11 economics consist of explanations of several important topics and concepts like the Indian economy, liberalization, etc., in a simple and engaging way with practical examples so students can understand them properly.


Class 11 Economics talks about the study of production, distribution, and consumption of goods and services. The two major branches of Class 11 economics are:


  • Macroeconomics - analyzes the individual agent like household, or business firms, etc.

  • Microeconomics - covers all the economy as a whole.


Class 11 economics revision notes cover all the crucial topics from both macroeconomics and microeconomics in a straightforward and easy way. The subject experts have prepared these notes after analysing the pattern of previous years question papers, and thus they help students identify the essential topics for revision. After revising Class 11th Economic Notes, students can easily solve Multiple Choice Questions or subjective questions from this chapter.


NCERT Chapter-Wise Class 11 Economics Revision Notes

Class 11 Economics Revision Notes cover the crucial topics from each chapter of NCERT Class 11 Economics for the quick revision of the whole syllabus of Class 11 economics just before the exam. Here is the list of the crucial topics covered in Class 11 Economics Notes.


CBSE Class 11 Economics Weightage 2024-25

Unit No.

Unit Name

Marks

Part A

Statistics for Economics



Introduction 

15


Collection, Organisation and Presentation of Data 


Statistical Tools and Interpretation 

25



40

Part  B

Introductory Microeconomics



Introduction

04


Consumer's Equilibrium and Demand 

15


Producer Behaviour and Supply 

15


Forms of Market and Price Determination under perfect competition with simple applications

06



40

Part  C

Project Work 

20


Part A: Statistics for Economics

Unit 1: Introduction

Unit 1 Class 11 Economics notes broadly cover the definition of Economics, its aspects, scope and importance in simple terms.


Unit 2: Collection, Organisation and Presentation of Data

Unit 2 Class 11 Economics revision notes are basically divided into three major sections.


  • Collection of Data - Includes sources of data: Primary and Secondary, Methods of Collecting these data.

  • Organisation of Data - Meaning of variables and its types, Frequency Distribution.

  • Presentation of Data - In tabular and diagrammatic Format.


Unit 3: Statistical Tools and Interpretation

It is one of the important chapters of Class 11 Economics and covers the following crucial terms and concepts.


  • Mean, Median and Mode

  • Absolute and Relative Dispersion

  • Lorenz Curve with its meaning and application

  • Scatter Diagram

  • Karl's Pearson Method

  • Index Numbers and its types


Part B: Indian Economic Development

Unit 4: Economic Reforms and Development Experience (Since 1991)

Unit 4 Class 11 Economics revision notes cover a brief introduction to the Indian economy with the reference to Independence and Common goals of Five Year Plans.


Apart from it, some significant concepts covered under this unit under Economic Reforms since 1991 are as follows.


  • Liberalisation

  • Privatisation

  • Globalisation

  • Appraisal of LPG Policies


Unit 5: Current Challenges Facing the Indian Economy

Unit 5 Class 11 Economics revision notes highlight the main issues affecting the Indian economy that need to be addressed on the primary basis to improve the economic condition of the country. These issues are:


  • Poverty

  • Rural Development 

  • Infrastructure

  • Environment and Sustainable Development 

  • Human Capital Formation In India

  • Employment: Growth, Informalisation and Other Issues


Unit 6: Development Experience of India

Unit 6 Class 11 Economics revision notes cover the comparison of India's development with its neighbouring countries: China and Pakistan, along with the factors affecting the development of these countries.


With the help of the above information, you can easily access and download the class 11 revision notes which are prepared by our professional teacher who holds the maximum experience. These notes will help you in the studies and also help in the final exam studies. All you have to do is go through them properly to understand the basic concepts.


So download our app for the best experience in learning and enjoy your study in a smart and efficient way.


CBSE Class 11 Economics Study Materials

FAQs on Economics Revision Notes for Class 11

Q1. What is the advantage of referring to the CBSE Class 11 Economics revision notes on Vedantu?

Referring to the revision notes of class 11 will help you to score good marks in your exams as they are created by the subject-matter experts. Class 11 CBSE Economics notes are easy to understand and clear your concepts thoroughly. Revision notes are a quick tool for the final exam preparation because it will help the class 11 students to revise the topics quickly before the exam.

Q2. What are the crucial chapters in the Class 11 Indian Economic Development/ Economics NCERT textbook?

There are a total of 10 chapters in Class 11 Indian Economic Development/ Economics NCERT textbook. Here is the list of some crucial chapters of NCERT Class 11 Economics textbook.

  • Chapter 2 - Indian Economy 1950-1990

  • Chapter 3 - Liberalisation, Privatisation and Globalisation— An Appraisal

  • Chapter 5 - Human Capital Formation in India

  • Chapter 6 - Rural Development

  • Chapter 7 - Employment Growth – Informalisation & Other Issues

  • Chapter 10 - Comparative Development Experiences of India and Neighbors

Q3. How many books of Economics are there in Class 11 NCERT?

There are two books in CBSE Class 11 Economics. These books are Indian Economic Development and Statistics for Economics. Indian Economic Development deals with the economic history of India (how policies were formed and how economic goals were achieved), how the Indian economy deals with various economic problems, and how various sectors in India use the economic resources. In Statistics for Economics, students will learn about different statistical tools that are used for handling and presenting data for its interpretation.

Q4. What is Economics all about in Class 11?

CBSE Class 11 Economics deals with two important aspects. One, it deals with the Indian economy, the trajectory of the Indian economy since its independence and how various plans and policies like the Five Year Plans, Economic Reforms of 1991 etc. and how they helped in shaping India. It also highlights how resources are utilized by various sectors in the country and how the resources are distributed. Second, it deals with statistics in economics, which is extremely crucial for data collection and representation. To get a detailed insight into this chapter, you can visit Vedantu app or website.

Q5. Which is the best book for Class 11 Economics?

The best books for CBSE Class 11 Economics are the NCERT Books as the whole syllabus including the exam paper is based on the NCERT books. The two books that you should use for your studies are Indian Economic Development and Statistics for Economics. Apart from this, once you have completed your NCERT books, you can use Vedantu’s CBSE Class 11 Economics notes for revising all that you have studied. With Vedantu’s economics notes available free of cost, you’ll have the most effective revision!

Q6. Is Class 11 Economics difficult?

CBSE Class 11 Economics may seem vast and exhausting but if you have the right resources at your disposal and the will to work hard, then you can complete the full syllabus smoothly. You should refer to Vedantu’s CBSE Class 11 Economics Notes which consist of a precise yet comprehensive summary of all chapters. Each and every topic is covered including the definitions, diagrams, and examples. In statistics, all the questions have been worked out step by step for students.

Q7. Why are Statistics important to study?

Statistics is an essential part of economics because with Statistics people are able to organize, present, and summarize the collected data. The collected data is presented in graphical, tabular or diagrammatic forms. The presented data is summarized with the help of statistical tools like variance, mean, standard deviation etc. It is only when the data is arranged and summarized, it is eligible for interpretation and analysis. The interpreted data and the analysis of it are then used in forming policies.