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CBSE Class–11 economics Revision Notes Ecomomics 01 Introduction to Micro Economics 1. Study of Economics is divided into two branches: (a) Micro economics (b) Macro economics 2. Micro economics studies the behaviour of individual economic units.Ex-Consumer equilibrium, producers ...
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UNIT I GENERAL FOUNDATION OF MANAGERIAL ECONOMICS Economics can be broadly divided into two categories namely, microeconomics and macroeconomics. Macroeconomics studies the economic system in aggregate on the other hand micro-economics studies the behavior of an individual decision-making economic unit ...
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Unit I: Basic Economic Concepts What is Economics in General? Economics is the science of scarcity. Scarcity is the condition in which our wants are greater than our limited resources. Since we are unable to have everything we desire, we ...