Introduction to Microeconomics
Why does a shopkeeper lower prices in the evening, and why does a farmer choose wheat over barley. This topic in NCERT Introductory Microeconomics for Class 11 opens the study of individual choices through scarcity, opportunity cost, production possibilities and the central problems of what, how and for whom to produce. It distinguishes micro and macro approaches and introduces demand, supply and market as organising ideas. You will learn to think like an economist about tradeoffs in homes, farms and small firms.
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