Chapter 1.i–iiUnderstanding EconomicsISC · Class XI · examination 2028
Topics
Economics
Definitions by Smith, Marshall, Robbins and Samuelson
Microeconomics and macroeconomics
Utility, total and marginal utility
Value, wealth, welfare and money
Capital, investment, income and saving
Learning objectives
Explain scarcity and choice using a definition of economics.
Labs for this chapter are on the way
We are building worlds, labs and stories for Definitions and Basic Concepts of Economics. Meanwhile, practise its questions or explore the rest of Social Science.
