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Book Review for the book - The economics of small thing

The Economics of Small Things by Sudipta Sarangi (Penguin Books) A book for general reading for everybody to understand the economics in the daily life The stories of people going about their daily behaviour – from the trivial, such as eating (or not eating) the last slice of pizza, proudly displaying a pen in their shirt pocket (or not), to the important, such as selecting a health insurance policy, or, indeed, deciding to wear or not to wear a seat belt – are choices. Behind those choices is “serious economic behaviour”, The author says. This book deals with the ‘invisible hand’ of economics in our everyday life. It features superbly entertaining anecdotes and examples, as well as delicious and accessible explanations, and apparently the desire to spark an interest in economics among those who pick it up. The book demonstrates how our behaviour is impacted by considerations which are avidly studied by economists – that much of our behaviour can be explained and demystified by explanations found in the science of economics. ‘Dismal science?’ Hardly. Link of the book is given below - https://amzn.to/3gbNSZv

Topic Demand Class 11 Micro Economics Worksheet

Name __________________

Topic Demand

Time to be taken 10 minutes

Do write for queries and online tutor 

pankajbhanwani@gmail.com

Follow my Instagram channel @pankajbhanwani for more news articles and updates

Fill in the blanks

 ______________willing and able to buy , at each possible price during a given period of time

 ________ __________ refers to the quantity of a commodity that all consumer is willing and able to buy, at each possible price during a given period of time 

Demand is a function of ________ and can be expressed as D= f(P) 

________________ are those goods which can be used in place of one another foe satisfaction of a particular want 

______________ are those goods which are used together to satisfy a particular want

 If the given commodity is _____________ good then an increase in income leads to rise in the demand

 If the given commodity is _____________ good then an increase in income leads to fall in the demand 

_______________ __________ ____________ refers to the functional relationship between individual demand and the factors affecting individual demand 

_______________ __________ ____________ refers to the functional relationship between market demand and the factors affecting individual demand 

___________ ___________ is a tabular statement showing various quantities of a commodity being demanded at various level of price, during a given period of time 

____ _____ _______ states the inverse relationship between price and quantity demanded keeping other factors constant Question 

Indian Economy at the Eve of Independence Class 12 Indian Economy

ASSIGNMENT 

INDIAN ECONOMICS

Topics (Indian economy on the of independence and planning)

CLASS 12TH

For your queries and suggestion

Be free to write 

pankajbhanwnai@gmail.com

1.	Define the following terms: ( one mark each) a) Year of grade divide. ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… b) commercialization of agriculture ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… c) drain of wealth ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… d) deindustrialization ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… e) capital goods industries ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… f) economic planning ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… g) land reforms ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… h) marketable surplus ………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………… i) import substitution ………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………
2.	Answer the following questions  in one word or sentence: ( one mark each) Name some economist who estimated India’s per capita income during the colonial period? In which two states land reforms were successful? What are examples of consumer goods industries? When was planning initiated in India? When was planning commission established? When was NITI Aayog established? …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
3	What was the two fold motive behind systematic de-industrialization effected by the British in pre independent India? ………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
4	State main causes of India’s agricultural stagnation during British rule. …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
5	What do you understand by drain of Indian wealth during colonial period? …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
6	State salient feature of the flowing ( 3 mark each) a) occupational structure  b) foreign trade c) demographic conditions …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
7	Were there any positive contributions made by the British in India? Discuss. …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… …………………………………………………………………………………………………………………………………………… ……………………………………………………………………………………………………………………………………………
	In which year railways was introduced in India? (1) 1892 1890 1850 1853
	Reason for low productivity in agriculture   HYV seeds Low levels of technology Improved  irrigation system All of these
	What was the rate of growth of real output in our country during the first half of the century Less than 1 percent Less than 2 percent Less than 3 percent Less than 4 percent
	Capital goods industries are those industries which Which can produce machine goods Which can produce consumer goods Both None of these
	TISCO was incorporated in 1906 1912 1978 1907

Money Lesson learnt from Convid19

 STEPS TO STAY AFLOAT AS COVID-19 STRIKES

Financial Planning to be secure at the time of any emergency

Extract from India Today Magazine 

Create a Emergency Fund

Keeping aside some  money for emergencies, such as unforeseen expenses or a sudden, even temporary, loss of income. Financial planners advise three to six months’ worth of expenses in cash or near-cash liquid assets. 

The idea is simple: this money should be available to you at very short notice, so liquidity is of the essence. 

Employees in highly vulnerable sectors such as aviation, hospitality, travel and tourism might like to set aside more. These are very uncertain times, so even 9-12 months’ expenses [can be parked in contingency options]

 Have health insurance

You do, however, need to set aside money for a health emergency in the family; Rs 5 lakh might serve. Not buying health insurance is not a risk you should take, because the annual premium on an insurance cover is a small fraction of what your hospital bill might be, if you have to be admitted. 

The right mutual fund for you

In times of great uncertainty, the stock market tends to go berserk. Stocks of good pedigree also get hammered, but seasoned long-term investors see that as an opportunity to pick up undervalued stocks. For those who lack the expertise, or the time or inclination to make individual stock picks, diversified equity funds or index funds are the way to go. They usually deliver returns that comfortably beat inflation and are easily the most transparently regulated investment avenue for inexpert, passive investors seeking long-term returns. Those who want to play it safe could look at large-cap index funds or large-cap funds

For further discussion

Feel free to contact

Pankaj Bhanwani

pankajbhanwani@gmail.com

Production Possibility Curve Class 11 Economics

Class 11

2020-21

CBSE

@copyright

Practice Worksheet

Note to teachers - After teaching the lesson on production possibility curve the teacher can give them as a homework and can be checked and assessed

Chapter - Production Possibility Curve

Q1 Define PPC

________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Q2 Complete the diagram 

Q3 Lets now identify the points on/off the PPC

1. Point B in the diagram shows that more of ________ is produced and less of ________ is produced
2. Point C in the diagram shows that more of ________ is produced and less of ________ is produced
3. Point X cannot be attained because it shows __________ of resource

Q4 What determines the shape of PPC

---

---

Q5 Its shape is _________  to origin

Q6 Lets now draw a schedule for PPC

Combination	Good X	Good Y
A
B
C
D
E

Q7 In the given diagram answer the following blanks

1. Point X shows _____________________  use of resources

2. When we move from point X to A more of __________ is produced and same amount of cotton
3. When we move from point X to C more of __________ is produced and same amount of 

Wine

4. When we move from point X to B more of __________ is produced and more of _______ is produced
5. All the points on the PPC that is point A,B and C shows ___________  use of resources

Q8 The formulae for MOC is

 (-) Loss in -----------Gain in ----------

The negative sign in the formulae shows that PPC is _______________   sloping in nature

Q9 Give me 3 reasons why the PPC will shift outwards

1. 
   

---

2. 
   

---

3. 
   

---

Q10 You as a student has a limited resource as time . You have 8 hours of study . You are  can do 5 questions per hour of science and 2 questions per hour of maths Plot the different combination in a form of graph of PPC

What is the shape of PPC in this shape

---