Macro Economics : Revision ! must Know these

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Viva Questions for 12 

### Macroeconomics

1. *National Income and Related Aggregates*

   - Concepts of GDP, GNP, NNP, and national income

   - Methods of calculating national income

   - Real and nominal GDP

2. *Money and Banking*

   - Functions of money

   - Money supply and its measures

   - Functions of commercial banks and the central bank

   - Credit creation process

3. *Determination of Income and Employment*

   - Aggregate demand and aggregate supply

   - Consumption and investment functions

   - Multiplier effect

   - Equilibrium level of income

4. *Government Budget and the Economy*

   - Components of government budget

   - Types of budget deficits

   - Fiscal policy and its impact on the economy

5. *Balance of Payments*

   - Balance of trade and balance of payments

   - Foreign exchange rate and its determination

   - Exchange rate systems

https://ictsciencerekha.blogspot.com/p/current-affairs.html

Lo Economics ke liye yaha Sab kuch h 

though main yahi suggest karunga , 1 book pakkdo or usko hi 5 baar 

ghot kar padhlo . kuch mat chordo usme

& use , my revision method Strategy - 5 reads , full syllabus  || All subjects

✅ - 1st read ; only easy topics . jo easily samjhe aajate h 

⭕ - 2nd read - dubious topics ; aatey h , per clear nahi 

❌- 3rd bilkul sir ke upper se nikalte h ; ask help from teacher . mentor or any friends who have good grip on that topic

4th & 5th - Sab kuch green ✅

& 

Theory part me , Presentation is the key 

1.Heading 

2. Keywords 

3. Explanation 

4.Use Diagrams, flow charts and Graphs (where ever possible)

Bonus  Tip : Better if use different colour Pens

 Watch there Videos : 
All Important Curves : 

Most important MCQ 

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Microeconomics Class 11: Itna tho aana hi chaiye ... #Minimum #level of #Understanding in #microeconomics and #Macroeconomics #Cbse #Isce #class11 and #class12 #broad #prep

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For Quick revision :
Must have Clear understanding of these topics : 
I will keep updating this page as needed : 

### Microeconomics

1. *Introduction to Microeconomics*

   - Definition, scope, and importance of microeconomics.

   - Basic economic problems: what to produce, how to produce, and for whom to produce.

2. *Consumer's Equilibrium and Demand*

   - Utility analysis: total utility, marginal utility, law of diminishing marginal utility.

   - Indifference curve analysis: properties of indifference curves, budget line, consumer equilibrium.

   - Demand: law of demand, determinants of demand, movement along and shift in demand curve.

3. *Elasticity of Demand*

   - Price elasticity, income elasticity, and cross elasticity of demand.

   - Measurement methods: percentage change method, total expenditure method, geometric method.

4. *Producer Behavior and Supply*

   - Production function: short-run and long-run production, law of variable proportions, returns to scale.

   - Cost concepts: fixed cost, variable cost, total cost, average cost, marginal cost.

   - Revenue concepts: total revenue, average revenue, marginal revenue.

   - Supply: law of supply, determinants of supply, movement along and shift in supply curve.

5. *Forms of Market and Price Determination*

   - Perfect competition: features, price determination, equilibrium of firm and industry.

   - Monopoly: features, price determination, equilibrium.

   - Monopolistic competition: features, price determination, equilibrium.

   - Oligopoly: features, price rigidity, kinked demand curve.

6. *Simple Applications of Tools of Demand and Supply*

   - Price ceiling and price floor: meaning, implications, and examples.

   - Market equilibrium: effects of shifts in demand and supply.

These topics should give you a comprehensive understanding of the key areas in Class 11 Economics.

https://youtube.com/playlist?list=PLwtiQxSjCQsZdllBFcemUkRStDxtknfsp&si=YxQj0ZWzNDrN52hlRevision playlist :

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All Important Curves : 

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Choosing which variable to place on the x-axis and y-axis in a graph is an important step in data visualization

Choosing which variable to place on the x-axis and y-axis in a graph is an important step in data visualization. Here are some guidelines to help you decide:

1. Independent vs Dependent Variables: The independent variable (or “explanatory variable”) should go on the x-axis and the dependent variable (or “response variable”) should go on the y-axis1. In other words, the variable that can be viewed as “explanatory” should go on the x-axis and the variable that is “being explained” should go on the y-axis1.

2. Experimental Control: If one variable was under experimental control, it should be placed on the x-axis2.

3. Prediction: If you would like to make predictions of one variable based on the other, put the one you’re predicting on the y-axis and what you’re basing it on on the x-axis2.

4. Random vs Fixed Variables: In some cases, if one variable is ‘fixed’ and the other is ‘random’, the random one tends to go on the y-axis of the plot2.

Here are a few examples:

• Hours Studied vs. Exam Score: If a professor collects data on the number of hours studied and exam score received, he should place ‘Number of hours studied’ on the x-axis and ‘Exam Score received’ on the y-axis. Since the exam score received is dependent on the number of hours studied, the number of hours studied belongs on the x-axis while the exam score belongs on the y-axis1.

• Food Consumption vs. Weight: If a biologist collects data on grams of food fed daily and weight after one month for mice in his lab, he should place ‘Grams of food fed daily’ on the x-axis and ‘Weight after one month’ on the y-axis. Since the weight of each mouse is dependent on the number of grams of food they’re fed daily, the number of grams of food belongs on the x-axis while the weight belongs on the y-axis1.

• Age vs. Height: If a botanist collects data on height (in inches) and age (in weeks) for a certain plant, she should place ‘Age (in weeks)’ on the x-axis and ‘Height (in inches)’ on the y-axis. Since the height of the plant is dependent on its age, age belongs on the x-axis while height belongs on the y-axis1.

Remember, regardless of what you do, always label axes clearly2. I hope this helps! If you have any more questions, feel free to ask.

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Class 9th CBSE NCERT SST Solution :

 Poverty : 

https://docs.google.com/document/d/1KmxGg3Nxa3YG6GbCIuBIt81ljwtOog9gMbkV2qdbg-Q/edit?usp=drivesdk

Questions and Answers

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