Question

CONTENTS
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UNIT 1 : INTRODUCTION TO ECONOMICS
1. Introduction to Economics
Definitions of Economics
Micro and Macro Economics
Types of Economic Activities
2. Basic Economic Entities in an Economy
• Economy and Its Main Sectors
Basic Units of Economic Analysis
3. Basic Concepts of Economics
Human Wants Goods • Utility Value and Price Wealth Welfare
Capital Money Income Production Market Factors of Production
Consumption - Saving Economy
12 18
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ation
UNIT II : TYPES OF ECONOMIES
4. Types of Economies
Classification on the Basis of Ownership over the Means of Production
Classification on the Basis of Level of Development
Economic Growth and Development
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UNIT INI : PROBLEMS OF AN ECONOMY
A
Basic Problems of An Economy
Resources Economic Problem Central or Basic Problems of an Economy
Efficient Use of Resources
UNIT IV : THE INDIAN ECONOMY - A STUDY​

Answer 1

Answer:

Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies how individuals, businesses, governments, and nations make choices on allocating resources to satisfy their wants and needs, trying to determine how these groups should organize and coordinate efforts to achieve maximum output.

Answer 2

Answer:

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