Chapter-10: Indian Economy at the time of Independence

11th English Medium
the features of Indian economy as follows: (i) Low per capita income India is known in the world as a country with low per capita income. Per capita income is defined as the ratio of national income over population. It gives the idea about the average earning of an Indian citizen in a year, even though this may not reflect the actual earning of each individual. India's per capita income for the year 2012-2013 is estimated at ` 39,168. This comes to about ` 3,264 per month. If we compare India's per capita income with other countries of the world then it can be seen that India is well behind many of them. For example, the per capita income of USA is 15 times more that of India while China's…
Read More

Class 11 Economics Inflation: Problem and Policies

11th English Medium
Chapter 17 :Inflation: Problem and Policies Meaning:  Inflation refers to a situation of increase in the general price level over a period of time. It is a part of business cycles. Indicators of Inflation There are three standard indicators of inflation: Wholesale Price Index (WPI) Consumer Price Index (CPI) Gross Domestic Product (GDP) Causes of Inflation Increase in Money Supply Deficit Financing Rise in Population Fall in Production Increase in Wages Administrated Prices Inflation Across the Border’s Indirect Tax Credit Expansion Black Money   Effect of Inflation or Problems related to inflation Inflation Hinders the process of growth Adverse effect on the people with fixed Income Increase in the cost of Projects Adverse Impact on Balance of Payments Wage-Price spiral Inequality Economic Stagnation Impact on FDI Speculation and Hoarding  …
Read More

Index numbers ,11th class Economics Notes

11th English Medium
Meaning: Index numbers is a statistical tool for measuring relative change in a group of related variables over two or more different times. Index number expresses the relative change in price, quantity, or value compared to a base period. An index number is used to measure changes in prices paid for raw materials; numbers of employees and customers, annual income and profits, etc. 2. USES OF INDEX NUMBERS Index numbers are economic barometers. Index numbers measure the level of business and economic activities and are therefore helpful in gauging the economic status of the country. Index number is a special type of averages which helps to measure the economic fluctuations on price level, money market, economic cycle like inflation, deflation etc. Index numbers helps in formulating suitable economic policies and…
Read More

11th Class Economics : CORRELATION

11th English Medium
  Correlation Correlation refers to the associations between variables. When an association exists between two variables, it means that the average value of one variable changes as there is a change in the value of the other variable   Kinds of correlation:- Positive and Negative correlation. Linear and non – linear correlation. Simple and multiple correlations.   Positive correlation: If two variables change in the same direction (i.e. if one increases the other also increases, or if one decreases, the other also decreases), then this is called a positive correlation. For example: Advertising and sales. Some other examples of series of positive correlation are: (i) Heights and weights; (ii) Household income and expenditure; (iii) Price and supply of commodities; (iv) Amount of rainfall and yield of crops.   Negative correlation:…
Read More

11th statistics Chapter 3: Organization of Data

11th English Medium
Classification of Data: The process of grouping data according to their characteristics is known as classification of data. Objectives of Classification: To simplify complex data: The main objective of classification is to condense the large data to make them easily understood. To facilitate understanding To facilitate comparison To make analysis and interpretation easy. To arrange and put the data according to their common characteristics.    Statistical Series: Systematic arrangement of statistical data Can be on the basis of individual units :  The data can be individually presented in two forms: i] Raw data: Data collected in original form. ii] Individual Series: The arrangement of raw data individually. It can be expressed in two ways. Alphabetical arrangement : Alphabetical order Array: Ascending or descending order. Can be on the basis of…
Read More

11th Statistics Chapter 2: COLLECTION OF DATA

11th English Medium
Data – Information which can be expressed in numbers.  Primary vs. Secondary Data Data can be collected in two different ways. One way is to collect data directly from the respondent. The person who answers the questions of the investigator is called respondent. Statistical information thus collected is called primary data and the source of such information is called primary source. This data are original because it is collected for the first time by the investigator himself. For example, if the investigator collects the information about the salaries of National Institute of technology employees of then it is primary data for him.   Difference between Primary and Secondary Data   Primary data is original data collected by the investigator while secondary data is already existing and not original. Primary data…
Read More

11th Statistics Chapter 1: Introduction of Economics

11th English Medium
Meaning of Statistics in plural sense : In plural sense statistics means statistical data ‘‘By statistics we mean aggregate of facts affected to a market extent by multiplicity of causes numerically expressed enumerate or estimated according to a reasonable standard of accuracy, collected in a systematic manner for a predetermined purpose and plural in relations to each other. Meaning of Statistics in Singular Sense :-In the singular sense, statistics means science of statistics or statistical methods. If refers to techniques or methods relating to collection, classification, presentation, analysis and interpretation of quantitative data. These are the stages through which every statistical enquiry has to pass through. Consumer – A person who buys goods and services for the satisfaction of human wants. Producer – A person who produces goods. Service holder…
Read More