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 Mid term  Syllabus👇 https://master-hi.blogspot.com/2023/08/microeconomics-class-11-syllabus-2023.html Economics notes mid term important chapters: 💪 https://master-hi.blogspot.com/2023/08/price-elasticity-of-demand-note-class.html https://master-hi.blogspot.com/2023/08/indifference-curve-analysis-of.html Related queries: Exam date sheet, Exam date class 10, Midterm exam date sheet, Exam date sheet class 11, Exam date sheet class 12, Mid term exam date sheet,11 and 12, Mid term date sheet class 10, Mid term date sheets class 9.

 Chapter: Price Elasticity of Demand       The following notes is covered the topics provided in the syllabus of the chapter . For full chapter note scroll down.  Introduction: The concept of price elasticity of demand is a crucial tool used in economics to understand how changes in price affect the demand for a product or service. It measures the responsiveness of demand to changes in price. In this chapter, we will dive into the factors that influence price elasticity of demand and explore different methods for measuring it. Factors affecting price elasticity of demand: 1. Availability of substitutes: The availability of substitutes plays a significant role in determining the price elasticity of demand. When there are many substitutes available, consumers are more likely to alter their purchasing decisions in response to price changes, resulting in a high elasticity of demand. 2. Necessity vs. Luxury: The demand for necessities tends to be ine...

Chapter Note: Indifference Curve Analysis of Consumer's Equilibrium             Introduction: In this chapter, we will learn about how consumers make decisions. To understand this, we will use a tool called indifference curve analysis. This analysis helps us understand how consumers choose what to buy based on their preferences, budget, and conditions for their equilibrium.                According to syllabus topics  1. The Consumer's Budget: The consumer's budget is important because it determines what they can afford to buy. It includes the different combinations of goods or services that the consumer can afford based on their income and the prices of goods. The budget set shows all the possible combinations of goods the consumer can buy within their budget. The budget line shows the trade-off between two goods and shows the combinations that can be bought using the consumer's income. 2. Preference...

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 📚 Class Notes: Statistics - Class 11 📝 Topic: Introduction to Economics and the Role of Statistics 1️⃣ What is Economics? Economics is the study of how individuals, firms, and societies allocate limited resources to satisfy their unlimited wants and needs. 2️⃣ Meaning of Statistics in Economics: Statistics refers to the collection, analysis, interpretation, presentation, and organization of data in order to make informed decisions and draw meaningful conclusions. 3️⃣ Scope of Statistics in Economics: Statistics plays a crucial role in various aspects of economics, including: 📊 Data Collection: Gathering relevant data through surveys, experiments, and observation. 📈 Data Analysis: Examining and manipulating data to identify patterns and trends. 📉 Data Interpretation: Drawing meaningful insights and conclusions from the analyzed data. 📊 Economic Forecasting: Using statistical techniques to predict future economic trends. 📈 Policy Evaluation: Assessin...