PPT on "Chapter-1, Introduction to Economics" for Class 12th students, RBSE Board English Medium. Economics PPT by Sandeep Sharma. Meaning with suitable Definitions, Examples, Diagrams & Explanations.

1. Chapter - 1
PPT by Sandeep Sharma

2.  ‘Adam smith’ is known as the “The father of
Economics”.
 His book was “Wealth of nations” - 1776
PPT by Sandeep Sharma

3.  The term ‘Varta’ has been used for:-
 Agriculture activity
 Animal husbandry
 Commerce
 Various Economists defined economics differently:-
 Wealth oriented,
 Welfare oriented,
 Scarcity oriented,
 Development oriented,
 Based on the situation of lack of wants.
PPT by Sandeep Sharma

4.  Economics: is the science of studying the
problems of choice due to scarcity of
resources & is an art of solving these
problems.
 Micro economics: deals with the economic
interactions of a specific person, a single
entity or a company.
 Macro economics: is the study of the
performance, structure, behavior and
decision-making of an economy as a whole.
PPT by Sandeep Sharma

5. PPT by Sandeep Sharma

6. What to
Produce?
• Which goods
• What quantity
How to
Produce?
• Capital
• Labour
For
whom to
Produce?
• Rich
• Poor
PPT by Sandeep Sharma

7. PPT by Sandeep Sharma

8. PPT by Sandeep Sharma

9.  PPC is a graphical representation of alternative
production possibilities.
 Resources of any company can be used for the
production of various alternative goods.
 Since resources are limited, a choice has to be
made between the alternative goods that can
be produced.
 If a company maximize the production of
certain goods (Guns) then the production of
alternate goods (Butter) needs to be minimize.
PPT by Sandeep Sharma

10. PPT by Sandeep Sharma
PPT by Sandeep Sharma