Topics
Basic Concepts in Economics
- Branches of Science
- Natural Science
- Social Science
- Concept of Economics
- Kautilya's Views on Economics
- Types of Economic Systems
- Capitalism
- Socialism
- Mixed Economy
- Branches of Economics
- Microeconomics
- Basic Concepts of Microeconomics > Want
- Basic Concepts of Microeconomics > Goods and Services
- Basic Concepts of Microeconomics > Utility
- Basic Concepts of Microeconomics > Value
- Basic Concepts of Microeconomics > Wealth
- Microeconomics > Personal Income
- Basic Concepts of Microeconomics > Personal Disposable Income
- Microeconomics > Economic Activity
- Types of Income
- Concept of Economic Good
- Macroeconomics
- Cyclical Unemployment
- Difference Between Economic Growth and Economic Development
Money
Partition Values
The Economy of Maharashtra
- Formation and Economic Progress of Maharashtra
- Administrative Divisions of Maharashtra
- Important Features of the Economy of Maharashtra
- Economic Development of Maharashtra
- Agricultural Sector
- Industrial Growth in Maharashtra
- Service Sector
- Core Areas of Service Sector
- Economic Infrastructure of Maharashtra
- Social Infrastructure of Maharashtra
- Measures for Social Infrastructure: Education
- Measures for Social Infrastructure: Health Services
- Co – operative Movement in Maharashtra
- Symbols of Educational Schemes in India
- Tourism in Maharashtra
- Hospitality
- Entertainment Industry
Rural Development in India
Population in India
- Concept of Population in India
- Trends in Population Growth
- Theories of Population Growth
- Population Explosion in India
- Types of Population Based on Resource Availability
- Birth Rate
- Death Rate
- Survival Rate
- Legal Age of Marriage for Males and Females in Different Countries
- The Population as a Human Resource
- Role of Human Resources in Economic Development
Unemployment in India
- Concept of Unemployment
- Important Terms of Employment and Unemployment
- Types of Unemployment
- Rural Unemployment
- Urban Unemployment
- Extent of Unemployment in India
- State-Wise Unemployment Rates in India
- Causes of Unemployment
- General Measures to Reduce Unemployment
- Effects of Unemployment
- Government Measures for Employment Generation
Poverty in India
- Concept of Poverty in India
- Prof. Amartya Sen’s Views on Poverty
- Multi-dimensional Poverty
- Key Concepts of Poverty
- Countries with Highest Extreme Poverty Rates
- Poverty Line
- Informal Sector and Related Activities
- Income Pyramid
- Types of Poverty
- Extent of Poverty in India
- Estimates of Poverty
- Causes of Poverty
- Effects of Poverty
- Sustainable Development Goals
- Understanding Maharashtra’s Tri Colour Family Ration Cards
- Eradication of Poverty
- Poverty Alleviation Programmes and Their Target Sectors
- Tracking Anti-Poverty Efforts
Economic Policy of India since 1991
- Economic Transition of India
- Main Objectives of the Economic Policy of 1991
- Features of the Economic Policy of 1991
- Public Bank Vs Private Banks Vs Foreign Banks
- Components of New Economic Policy
- Liberalisation
- Privatisation
- Globalisation
- Evaluation of the Economic Policy of 1991
- Corporate Social Responsibility
Economic Planning in India
- India’s Planning Commission
- Economic Planning in India
- Overview of the Bombay, People’s, and Gandhian Plans
- Features of Economic Planning
- Five Year Plans (FYP)
- 12th Five Year Plan (2012-2017)
- Levels of National Family Health Survey (NFHS)
- NITI Aayog (National Institution for Transforming India)
- Planning Commission VS NITI Aayog
- Introduction
- Definition: Poverty
- Food Availability vs. Entitlement Approach
- Real-Life Application
- Key Point Summary
Maharashtra State Board: Class 11
Introduction
Prof. Amartya Sen, an Indian economist and Nobel laureate, transformed the study of poverty. He proved that poverty is not just a lack of money, but the absence of capabilities and real freedoms.
Maharashtra State Board: Class 11
Definition: Poverty
According to Prof. Amartya Sen, “Poverty is not just a lack of money, it is not having the capability to realise one’s full potential as a human being.” 'Capabilities' refer to economic, social and political freedom. A lack of substantive freedom, such as the freedom to satisfy hunger, access to nutrition, healthcare, and educational facilities, as well as the denial of political and civil liberties, leads to poverty.
Maharashtra State Board: Class 11
Food Availability vs. Entitlement Approach
| Model | What it Focuses On | Example |
|---|---|---|
| Food Availability Decline (FAD) | Total supply of food in society | Drought reduces crop yield |
| Entitlement Approach | Whether people can access food (income, rights) | Unemployment, rising prices prevent people from buying food |
Maharashtra State Board: Class 11
Real-Life Application
- Food existed, but millions starved. The main cause was that the poor could not afford or access food due to wage losses and high prices.
- Art and photographs from the period depict the severity and impact of famine on ordinary people.
Maharashtra State Board: Class 11
Key Point Summary
- Sen’s theory focuses on the lack of “entitlement” and real freedoms, not just total resources.
- Policy must ensure both sufficient supply and access—via jobs, income, public health, and education.
- Poverty affects vulnerable groups more severely (rural labourers, Scheduled Castes/Tribes).
