Economics is a social science that deals with the production, allocation and utilisation of goods and services. It also deals with the optimal allocation of resources in the community. This subject comprises of :
- Comprehending what happens in the macroeconomy and markets
- Scrutinising statistics about the state of the economy and elucidating their importance
- Comprehending different policy options and assessing their likely results
Importance of class 11 Economics coaching:
- Concerned and deals with a scarcity of raw materials
- How to allocate resources in the community?
- To what degree should the government intercede in the economy
- Social cost-effectiveness
- Knowledge and comprehension
- Applying economics in daily life
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