NCERT Solutions Class 11 Economics
NCERT Solutions for Class 11 Economics are provided here to clear all the concepts and doubts of students. NCERT Solutions for Economics has been provided here, at EDUGROSS, for students to help them in their examinations. With the help of these NCERT Solutions, you can score well and uplift your percentage. These solutions for Class 11 Economics will boost your confidence. Class 11 NCERT Solutions for Economics have been designed by our subject matter experts as per the latest CBSE Board Syllabus.
Economics is a kind of Science that deals with the making, distributing, selling and purchasing of goods and services. For example – Economics is the study of the stock market. The father of Modern Economics is Samuelson. He was the first American to win the Nobel Prize in Economics in 1970 for his work to transform the fundamental nature of the discipline. Students can easily access all these solutions online or they can also download free pdf of NCERT Solutions for Class 11 Economics.
At Edugross, all the required topics have been fully covered and presented not only engagingly but also interactively. A variety of exercises should encourage the learner to attempt them in a spirit of contentment. These NCERT Solutions give the best guidance to students for performing best in their exams.
A list of chapters provided in Class 11 Economics NCERT Solutions free PDF
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1) NCERT Solutions for Class 11 Economics Chapter 1 Indian Economy on the Eve of Independence
The fact is that over 70% of India’s National Income comes from its agricultural activities. The Indian Economy on the eve of Independence with respect to agriculture was emoralizing. Facing massive stagnation and continuous deterioration was the most important Indian Sector. NCERT Solutions for Class 11 Economics Chapter 1 download free pdf.
A list of topics from the chapter ‘Indian Economy on the Eve of Independence’ is given below-
- Low Level of Economic Development under the Colonial Rule
- Agriculture Sector
- Industrial Sector
- Foreign Trade
- Demographic Condition
- Occupational Structure
Some important points from the chapter ‘Indian Economy on the Eve of Independence’-
- The public sector enterprises such as railways, power, post and telegraph were confined to areas which would enlarge the size of market for British products in India is called Limited Growth of Public Sector Enterprises.
- The industrial growth was lopsided, in the sense that consumer goods industry was not adequately supported by the capital goods industry.
- No priority was given for the development of basic and heavy industries is known as Lack of Basic and Heavy Industries. Tata Iron and Steel Mills was the only basic industry in India.
- Modern Postal System started in India in 1837. The first telegraphy line was opened in 1857.
2) NCERT Solutions for Class 11 Economics Chapter 2 Indian Economy (1950–1990)
The central objective of Planning in India is to initiate a process of development which will raise the living standards and open out to the people new opportunities for a richer and more varied life. The proportion of GDP contributed by agriculture declined significantly but not the population depending on it in India, between 1950 and 1990. NCERT Solutions for Class 11 Economics Chapter 2 download free pdf.
A list of topics from the chapter ‘Indian Economy (1950–1990)’ is given below-
- The Goals of Five-Year Plans
- Industry and Trade
- Trade Policy: Import Substitution
Some important points from the chapter ‘Indian Economy (1950–1990)’-
- Economic Planning is a process under which a central authority defines a set of targets to be achieved within a specified period of time.
- Socialism is an economic system in which major economic decisions are taken by the government, keeping in view the collective interest of the society as a whole.
- The goals of five-year plans are:-
- Economic Growth implies a consistent increase in GDP or a consistent increase in the level of output or a consistent increase in the flow of goods and services in the economy over a long period of time.
- Modernisation means to increase the production of goods and services to producers with the adoption of new technology.
- Self-reliance means avoiding imports of those goods which could be produced in India itself. This policy was considered a necessity in order to reduce our dependence on foreign countries, especially for food.
- Equity implies equitable distribution of income so that the benefits of growth are shared by all sections of the society.
- Marketable Surplus refers to surplus of farmer’s output over and above his own farm consumption.
Thus, Marketable Surplus of Wheat = Output of Wheat – On Farm Consumption of Wheat.
3) NCERT Solutions for Class 11 Economics Chapter 3 Liberalisation, Privatisation and Globalisation : An Appraisal
India’s New Economic Policy was announced on July 24, 1991 which is known as the LPG or Liberalisation, Privatisation and Globalisation model. This new policy was announced by the finance minister, Manmohan Singh. NCERT Solutions for Class 11 Economics Chapter 3 download free pdf.
A list of topics from the chapter ‘Liberalisation, Privatisation and Globalisation: An Appraisal’ is given below-
- Indian Economy during Reforms : an Assessment
Some important points from the chapter ‘Liberalisation, Privatisation and Globalisation : An Appraisal’-
- Liberalisation of the economy refers to its freedom from direct or physical controls imposed by the government.
- Privatisation is the general process of including the private sector in the ownership or operation of a state owned enterprise.
- Globalisation is a process which associated with increasing openness, growing economic interdependence and deepening economic integration in the world economy.
- The financial institutions such as commercial banks, investment banks, stock exchange operations and foreign exchange market are known as Financial Market Reforms.
- Tax reforms are concerned with the reforms in government’s taxation and public expenditure policies which are collectively known as its Fiscal Policy.
- The reforms relating to foreign exchange and foreign trade are called External Sector Reforms.
4) NCERT Solutions for Class 11 Economics Chapter 4 Poverty
Poverty is a state or condition in which a person or community lacks the financial resources and essentials for a minimum standard of living. Poverty refers to the income level from employment as so low that basic human needs can’t be fulfill. NCERT Solutions for Class 11 Economics Chapter 4 download free pdf.
A list of topics from the chapter ‘Poverty’ is given below-
- About the Poor
- Identification of Poor People
- The Number of Poor People in India
- What Causes Poverty?
- Policies and Programmes towards Poverty Alleviation
- Poverty Alleviation Programmes — A Critical Assessment
Some important points from the chapter ‘Poverty’-
- Inability to fulfill the minimum requirements of life is called Poverty.
- Poverty Line is the line which expresses per capita average monthly expenditure by which people can satisfy their minimum needs.
- Rural Poor include landless agricultural work marginal holders and tenants-at-will.
- Urban Poor include migrants from the rural areas in search of employment, casual factory workers and self-employed serving largely as street vendors.
5) NCERT Solutions for Class 11 Economics Chapter 5 Human Capital Formation In India
India realized the significance of human capital in financial development in its initial stages. The process of acquiring and increasing the number of persons who have education and experience which is essential for the economic and political development of a country is called Human Capital Formation. NCERT Solutions for Class 11 Economics Chapter 5 download free pdf.
A list of topics from the chapter ‘Human Capital Formation in India’ is given below-
- Human Capitals
- Sources of Human Capital
- Human Capital and Human Development
- State of Human Capital Formation in India
- Education Sector in India
- Future Prospects
Some important points from the chapter ‘Human Capital Formation in India’-
- Education System of the country which along with the following facts makes education still challenging proposition in India.
- In the year 2012, the Government of India has brought about an Act, called RTE (Right To Education). It promises education to all and makes education a matter of right to all 6-14 years age group of children.
- Human Capital refers to the stock of ‘skill and expertise’ of a nation at a point of time. It is the sum total of skill and expertise.
- Human Capital Formation is the process of adding to the stock of human capital over time.
- Physical Capital refers to the stock of produced means of production. It consists of machines, production plants, etc.
- Financial Capital refers to the stocks/shares of the companies or these are simple financial claims against assets of the companies.
6) NCERT Solutions for Class 11 Economics Chapter 6 Rural Development
The process of upgrading the quality of life and economic welfare of people living in rural areas, often relatively isolated and sparsely populated areas is Rural Development. Agriculture is the extensive source of livelihood in the rural sector. NCERT Solutions for Class 11 Economics Chapter 6 download free pdf.
A list of topics from the chapter ‘Rural Development’ is given below-
- Rural Development
- Credit and Marketing in Rural Areas
- Agricultural Market System
- Diversification into Productive Activities
- Sustainable Development and Organic Farming
Some important points from the chapter ‘Rural Development’-
- Rural Credit means credit for the farming families. Credit is the life line of farming activity.
- Agriculture Marketing includes all those activities or processes which help a former getting maximum price for his produce among others, these processes include grading packaging and storage.
- Organic Farming is a system of farming that relies upon the use of organic inputs for cultivation.
- The rapid growth in the production of diverse horticultural crops such as fruits, vegetables, tuper crops and plantation crops is called Golden Revolution.
7) NCERT Solutions for Class 11 Economics Chapter 7 Employment Growth, Informalisation and Other Issues
Employment Growth is defined as a situation where GDP grows faster than the employment opportunities resulting in unemployment. Casualisation and informalisation of employment refers to a situation when the percentage of casually hired workers in the total workforce tends to rise over time. NCERT Solutions for Class 11 Economics Chapter 7 download free pdf.
A list of topics from the chapter ‘Employment Growth, Informalisation and Other Issues’ is given below-
- Workers and Employment
- Participation of People in Employment
- Self-Employed and Hired Workers
- Employment in Firms, Factors and Offices
- Growth and Changing Structure of Employment
- Informalisation of Indian Workforce
- Government and Employment Generation
Some important points from the chapter ‘Employment Growth, Informalisation and Other Issues’-
- Labour Supply is the supply of labour corresponding to different wage rates.
- Labour Force is the number of persons actually working or willing to work.
- Work Force is the number of persons actually working and does not account for those who are willing to work.
- Informalisation of Workforce refers to a situation where percentage of work force in the formal sector tends to decline and that in the informal sector tends to rise.
8) NCERT Solutions for Class 11 Economics Chapter 8 Infrastructure
The general term for the basic physical systems of a business, region or nation is called Infrastructure. For example – Infrastructure include transportation systems, communication networks, sewage, water and electric systems. NCERT Solutions for Class 11 Economics Chapter 8 download free pdf.
A list of topics from the chapter ‘Infrastructure’ is given below-
- Relevance of Infrastructure
- The state of Infrastructure in India
Some important points from the chapter ‘Infrastructure’-
- Infrastructure refers to such core elements of economic and social change which serves as a support system to production activity in the economy.
- Economic Infrastructure refers to all such elements of economic change which serve as a support system to the process of economic growth.
- Social Infrastructure is the core elements of social change which serve as a support system for the process of social development of a country.
- Women suffer from a serious neglect not only in the area of education, but in the area of health care as well in India. More than 50% of women in India in the age group of 15-49 years suffer from nutritional deficiency.
9) NCERT Solutions for Class 11 Economics Chapter 9 Environment and Sustainable Development
Sustainable development is an approach to economic planning which attempts to foster economic growth while conserving the quality of the environment for future generations. Ecotourism is one of the most important areas of the law of sustainable development. NCERT Solutions for Class 11 Economics Chapter 9 download free pdf.
A list of topics from the chapter ‘Environment and Sustainable Development’ is given below-
- Environment – Definition and Function
- State of India’s Environment
- Sustainable Development
- Strategies for Sustainable Development
Some important points from the chapter ‘Environment and Sustainable Development’-
- Pollution means those activities of production and consumption which challenge purity of air and water, and serenity of the environment.
- Sustainable Development is the process of economic development which aims at raising the quality of life of both and future generation.
- The environmental issues which affect the whole world are called Global Environmental Issues such as global warming and ozone depletion.
- Ozone Depletion is the phenomenon of reduction in the amount of ozone layer in the stratosphere.
10) NCERT Solutions for Class 11 Economics Chapter 10 Comparative development Experiences of India and its Neighbors
All three countries- India, Pakistan and China started towards their economic development at the same time. In addition, India and Pakistan attained Independence in the year 1947. However, China was an independent economy in the year 1949. NCERT Solutions for Class 11 Economics Chapter 10 download free pdf.
A list of topics from the chapter ‘Comparative development Experiences of India and its Neighbors’ is given below-
- Development Path – A Snapshot View
- Demographic Indicators
- Gross Domestic Product and Sectors
- Indicators of Human Development
- Development Strategies – An Appraisal
Some important points from the chapter ‘Comparative Development Experiences of India and its Neighbors’-
- SEZs (Special Economic Zones) policy of China is of central significance inducing FDI.
- SEZs are offering robust infrastructural facilities for FDI.
- China has an Edge over India. The Chinese reform process began more comprehensively during the 80s, when India was in the mid-stream of slow growth process.
- The common failures of structural reforms in India and Pakistan are growth rate of GDP and its sectoral constituents have fallen in 1990’s. Unemployment are still areas of major concerns in both the countries.
Advantages of Solving Class 11 Economics NCERT Solutions
- NCERT Solutions provide a step-by-step explanation to every question given in the textbooks. It is one of the most valuable aids to students in their home assignments and exams as well.
- Solving these NCERT Solutions will help students clearing all their doubts.
- These NCERT Solutions are prepared as per the syllabus of the respective subject and thus, provide proper guidance with a thorough learning process.
- NCERT Solutions help in clearing the tough concepts as these NCERT Solutions are designed using proper explanations.
- To score optimum marks in the examination, the students need to practice these NCERT Solutions as it contains a variety of questions for practice purpose. This will help students to have an easy hand at the Erroneous Questions as well.
- While studying in CBSE Board Schools, students always get confused while choosing the right study material. Therefore, the best option is NCERT Solutions as it covers the whole CBSE Syllabus for Class 11 Economics.
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