PSEB 11th Class Economics Book Solutions Guide in Punjabi English Medium

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Punjab State Board Syllabus PSEB 11th Class Economics Book Solutions Guide Pdf in English Medium and Punjabi Medium are part of PSEB Solutions for Class 11.

PSEB 11th Class Economics Guide | Economics Guide for Class 11 PSEB

Economics Guide for Class 11 PSEB | PSEB 11th Class Economics Book Solutions

PSEB 11th Class Economics Book Solutions in Hindi Medium

PSEB 11th Class Economics Book Solutions in English Medium

  • Chapter 1 What is Economics?
  • Chapter 2 Micro and Macro Economics
  • Chapter 3 Central Problems of an Economy
  • Chapter 4 Consumer’s Equilibrium
  • Chapter 5 Demand
  • Chapter 6 Price Elasticity of Demand
  • Chapter 7 Meaning of Production
  • Chapter 8 Concepts of Costs
  • Chapter 9 Concepts of Revenue
  • Chapter 10 Producer’s Equilibrium
  • Chapter 11 Supply & Price Elasticity of Supply
  • Chapter 12 Forms of Market
  • Chapter 13 Price Determination Under Perfect Competition: Equilibrium Price
  • Chapter 14 Meaning, Scope and Importance of Statistics in Economics
  • Chapter 15 Primary and Secondary Data
  • Chapter 16 Census and Sample Methods
  • Chapter 17 Organisaiton of Data
  • Chapter 18 Presentation of Data With Tables – Tabulation
  • Chapter 19 Diagrammatic Presentation
  • Chapter 20 Graphic Presentation
  • Chapter 21 Arithmetic Line Graphs : Time Series
  • Chapter 22 Measures of Central Tendency – Arithmetic Mean
  • Chapter 23 Measures of Central Tendency – Median
  • Chapter 24 Measures of Central Tendency – Mode
  • Chapter 25 Measures of Dispersion
  • Chapter 26 Man Power and Physical Resources of Punjab
  • Chapter 27 Agriculture Development of Punjab Since 1966
  • Chapter 28 Industrial Development of Punjab Since 1966
  • Chapter 29 Financial Position of Punjab Government

PSEB 11th Class Economics Syllabus

Class – XI (Pb.)
Economics
Time Allowed: 3 Hours

Theory: 80 Marks
Internal Assessment: 20 Marks
Marks Total: 100 Marks

Part – A
Introductory Micro Economics

Unit 1 Introduction
What is Economics? Definitions of Economics (Wealth, Material Welfare, Scarcity, and Growth Definitions). Economic Activities. Nature of Economics, Economic Policies, Economic Systems. Positive and Normative economics. Meaning of Microeconomics and Macroeconomics, Difference and interdependence between Micro and Macro Economics. Scope, Importance, subject matter, and limitations of Micro Economics.

What is an economy? Central problems of an economy: what, how, and for whom to produce. Production Possibility Curve, the slope of production possibility curve, the concept of opportunity cost, and marginal opportunity cost. Shifts and rotations of production possibility curve. Solution of various central problems with production possibility curve.

Unit 2 Consumer’s Equilibrium and Theory of Demand
Consumer’s equilibrium – meaning of consumer’s equilibrium, the meaning of utility, and various types of utility and their inter relationship. Law of diminishing marginal utility and Law of Equi-Marginal utility. Conditions of consumer’s equilibrium using marginal utility analysis in case of one and two commodities.

Theory of Demand: Meaning, types of demand, Demand schedule, Demand Curve and its slope, Law of Demand-its assumptions and exceptions. Determinants of demand. Movement along and shifts in the demand curve.

Price elasticity of demand – Meaning, degrees of price elasticity of demand, factors affecting price elasticity of demand; measurement of price elasticity of demand with percentage method and numerical.

Unit 3 Producer Behaviour and Supply
Theory of Production: Meaning of Production and production function. concepts of total product, Average Product, and Marginal Product. Concept of short Run and long run in production and laws of return to a variable factor and return to scale. Economies and Diseconomies of scale.

Theory of Cost: Meaning and types of cost. Short-run costs-total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost, and marginal cost. Relationship between various types of cost. Long-run cost curves.

Theory of Supply: Meaning and types. Supply schedule and Supply Curve and its slope. Determinants of supply. Movements along and shifts in the supply curve. Price elasticity of supply; measurement of price elasticity of supply with percentage method. Factors affecting price elasticity of supply.

Concepts of Revenue – Meaning and types of revenue. Total, average and marginal revenue – meaning and their relationship. Revenue curves under different market situations.

Producer’s equilibrium meaning and its conditions in terms of marginal revenue and the marginal cost approach. Concept of Gross profits and Net profits.

Unit 4 Forms of Market and Price Determination under Perfect Competition
Forms of Market: Meaning and features of a Market. Forms of Market: Perfect Competition, Monopoly and Monopolistic Competition and their features. Price Determination under Perfect competition-Determination of equilibrium through market forces and effect of shifts in demand and supply curves on equilibrium price and equilibrium quantity.

Part – B
Statistics for Economics

In this course, the learners are expected to acquire skills in the collection, organization, and presentation of quantitative and qualitative information pertaining to various simple economic aspects systematically. It also intends to provide some basic statistical tools to analyze, and interpret any economic information and draw appropriate inferences. In this process, the learners are also expected to understand the behaviour of various economic data.

Unit 5 Introduction
Statistics in Economics: Meaning, scope, functions, nature, limitations, and importance of statistics in Economics. Concept of statistics in singular and plural sense with their characteristics.

Unit 6 Collection, Organisation, and Presentation of Data
Collection of data sources of data primary and secondary data: their meaning, difference between primary and secondary data, methods for collection of primary and secondary data along with their suitability, advantages, and limitations. Some important sources of secondary data: are the Census of India and the National Sample Survey Organisation.

Theory of Census and Sampling: Meaning of census and sample method along with their suitability, merits, and demerits. Method of sampling: Random sampling, Stratified sampling, Systematic sampling, Quota sampling, Convenient sampling, and Purposive sampling. Sampling and Non-Sampling errors.

Organization of Data: Meaning and types of variables; Meaning and types of series: Individual, Discrete and Continuous series (various types of continuous series). Various concepts are related to the formation of series.

Presentation of Data: Tabular Presentation and Diagrammatic Presentation of Data:
(i) Geometric forms (bar diagrams and pie diagrams), (ii) Frequency diagrams (histogram, polygon, and ogive), and (iii) Arithmetic line graphs (time series graph).

Unit 7 Measures of Central Tendency and Dispersion
Measures of Central Tendency: Meaning of Central Tendency, Features, Arithmetic Mean (simple), Median and other positional averages (Quartile, Decile, and Percentile) and Mode (by inspection method only). Relationship between various measures of central tendency and choice of the best measure of central tendency.

Measures of Dispersion: Meaning, Absolute measures of Dispersion (Range, Quartile’s Range, Quartile Deviation, Mean Deviation, Standard Deviation). Relative measures of Dispersion (Co-efficient of range, co-efficient of quartile deviation, Coefficient of Mean deviation, Coefficient of Standard Deviation, and Coefficient of variation). Lorenz Curve.

Part – C
Punjab Economy

Unit 8 An Overview of Punjab Economy
Physical Resources of Punjab, Manpower Resources of Punjab, Agriculture Development of Punjab since 1966, Industrial Development of Punjab, and Financial System of Punjab.

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