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![Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ chapter 1 - Basic Concepts in Economics - Shaalaa.com](/images/economics-english-11-standard_6:f3883d08a8314767a7faecc361d5fe67.JPG "Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ chapter 1 - Basic Concepts in Economics")
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Solutions for Chapter 1: Basic Concepts in Economics
Below listed, you can find solutions for Chapter 1 of Maharashtra State Board Balbharati for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ.
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.1 [Page 8]
Choose the correct option:
Statements related to Economics:
- Economics is a social science.
- Concept of economics is derived from Greek word ‘Oikonomia’.
- Economics is related to the study of human economic behavior.
- Economics is related to management of the household.
a, b and c
a and b
b and c
a, b, c and d
Statements incorrect with reference to Adam Smith's definition:
- Adam Smith is a classical economist.
- Wealth of Nations is authored by Adam Smith.
- Economics is the science of wealth.
- Economics studies common man.
d
a, b and c
a and d
c and d
Choose the correct option:
Key points in Lionel Robbins' definition
a) Wants are unlimited
b) Means are limited
c) Wants are not gradable
d) Means have alternative uses.
a and b
b and c
a, b and d
a, b, c and d
Choose the correct option :
Statements related to wealth
a) Wealth means anything which has market value and can be exchanged for money.
b) It is external to human being.
c) Wealth has no utility.
d) Wealth is scarce and exchangeable
a, b and d
a, c and d
b, c and d
none of the above
Choose the correct option :
Aspects considered in National Income :
a) Final goods and services are included in national income.
b) Produced goods and services in a financial year are included in national income.
c) Double counting is avoided.
d) Value is considered as per market price
a and c
b and c
a, b and d
a ,b ,c, and d
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.2 [Page 8]
Complete the correlation:
Natural sciences : Exact sciences : : Social sciences : __________
Complete the correlation:
Physics :______________ : : Psychology : Social science
Complete the correlation :
Arthshastra : Kautilya : : Wealth of Nations :______________
Complete the correlation :
Necessity :______________ : : Comforts : Washing machine
Complete the correlation :
Free goods : Value-in-use : : Economic goods :______________
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.3 [Page 8]
Identify and explain the concept from the given illustration:
My father purchased a two wheeler vehicle. This helps to fulfil my travel needs.
Identify and explain the concept from the given illustration:
A study of the annual income of the family of Ramesh.
Identify and explain the concept from the given illustration :
As per the data for financial year 2018-19, the country's production of goods and services increased by 20%
Identify and explain the concept from the given illustration :
Karuna's mother saves 1000/- every month out of her given salary.
Identify and explain the concept from the given illustration:
Ram’s father utilized his provident fund amount to set up grocery store.
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.4 [Page 8]
Answer the following:
Explain the features of wealth.
Explain the characteristics of human wants.
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.5 [Page 8]
State with reasons whether you agree or disagree with the following statement:
All wants can be satisfied at a time.
State with reason whether you agree or disagree with the following statement:
Human wants change as per the seasons and preferences.
State with a reason whether you agree or disagree with the following statement:
Value-in-use and Value-in-exchange are the same.
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ 1 Basic Concepts in Economics Exercise Q.6 [Page 8]
Answer in detail.
Explain the basic concepts of macro economics.
Solutions for 1: Basic Concepts in Economics
Balbharati solutions for इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ chapter 1 - Basic Concepts in Economics
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Further, we at Shaalaa.com provide such solutions so students can prepare for written exams. Balbharati textbook solutions can be a core help for self-study and provide excellent self-help guidance for students.
Concepts covered in इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ chapter 1 Basic Concepts in Economics are Microeconomics, Branches of Economics, Types of Income, Difference Between Economic Growth and Economic Development, Capitalism, Socialism, Mixed Economy, Branches of Science, Basic Concepts of Microeconomics > Want, Basic Concepts of Microeconomics > Goods and Services, Basic Concepts of Microeconomics > Value, Basic Concepts of Microeconomics > Utility, Types of Economic Systems, Basic Concepts of Microeconomics > Wealth, Microeconomics > Personal Income, Basic Concepts of Microeconomics > Personal Disposable Income, Microeconomics > Economic Activity, Concept of Economic Good, Macroeconomics, Cyclical Unemployment, Concept of Economics, Kautilya's Views on Economics, Natural Science, Social Science.
Using Balbharati इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ solutions Basic Concepts in Economics exercise by students is an easy way to prepare for the exams, as they involve solutions arranged chapter-wise and also page-wise. The questions involved in Balbharati Solutions are essential questions that can be asked in the final exam. Maximum Maharashtra State Board इकॉनॉमिक्स [इंग्रजी] इयत्ता ११ महाराष्ट्र राज्य मंडळ students prefer Balbharati Textbook Solutions to score more in exams.
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