Chapter 2 of 25
Concept Maps
Basic Concepts of Economics — Concept Maps
ICSE · Class 11 · Economics
4 concept maps of Basic Concepts of Economics for ICSE Class 11 Economics, each also written out as a text outline.
43 questions52 flashcards4 formulas & key relations5 concepts
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4 Concept Maps
Basic Concepts of Economics - Overview
The map in words
- Economics
- Microeconomics
- Individual Units
- Price Theory
- Product Pricing
- Factor Pricing
- Macroeconomics
- Aggregate Variables
- Income Theory
- National Income
- Employment
- Utility
- Total Utility
- Marginal Utility
- Diminishing Law
- Value and Price
- Value in Use
- Value in Exchange
- Price in Money
- Factors Production
- Land
- Labour
- Capital
- Organisation
- Money Economy
- Medium Exchange
- Unit Account
- Store Value
- Deferred Payment
- Production Consumption
- Utility Creation
- Form Utility
- Place Utility
- Time Utility
- Business Cycle
- Expansion
- Recession
- Depression
- Recovery
- Microeconomics
Basic Concepts of Economics Overview
The map in words
- Basic Concepts of Economics
- Microeconomics
- Price Theory
- Individual Units
- Firm and Household
- Product Pricing
- Factor Pricing
- Macroeconomics
- Income Theory
- Aggregate Variables
- National Income
- Aggregate Demand
- Aggregate Supply
- Utility and Value
- Marginal Utility
- Total Utility
- Value in Use
- Value in Exchange
- Price Determination
- Wealth and Wants
- Characteristics of Wealth
- Forms of Wealth
- Types of Wants
- Classification of Wants
- Factors of Production
- Land
- Labour
- Capital
- Organisation
- Money and Markets
- Functions of Money
- Barter vs Money
- Market Definition
- Market Transactions
- Production and Consumption
- Utility Creation
- Production Types
- Consumption Types
- Production Consumption Cycle
- Income and Saving
- Factor Income
- Transfer Income
- National Income
- Saving and Investment
- Business Cycles
- Expansion Phase
- Recession Phase
- Depression Phase
- Recovery Phase
- Microeconomics
Basic Concepts of Economics — Complete Overview
The map in words
- Basic Concepts of Economics
- Branches of Economics
- Microeconomics
- Price Theory
- Individual Units
- Firm and Household
- Macroeconomics
- Income Theory
- Whole Economy
- National Income
- Microeconomics
- Utility
- Marginal Utility
- Positive MU
- Zero MU
- Negative MU
- Total Utility
- Sum of all MU
- Maximum when MU is zero
- Marginal Utility
- Factors of Production
- Land
- Natural Resources
- Fixed Supply
- Labour
- Physical and Mental
- Active Factor
- Capital
- Man Made
- Passive Factor
- Organisation
- Risk Bearer
- Entrepreneur
- Land
- Economic Concepts
- Wealth
- Utility
- Scarcity
- Transferability
- Externality
- Money
- Medium of Exchange
- Unit of Account
- Standard of Deferred Payment
- Store of Value
- Income
- Factor Income
- Transfer Income
- National Income
- Per Capita Income
- Wealth
- Macroeconomic Concepts
- Inflation
- Rising Prices
- Long Period
- Aggregate Demand
- C plus I plus G plus Net Exports
- Aggregate Supply
- Short Run Upward Sloping
- Long Run Vertical
- Business Cycle
- Expansion
- Recession
- Depression
- Recovery
- Inflation
- Branches of Economics
Basic Concepts of Economics
The map in words
- Basic Concepts of Economics
- Microeconomics and Macroeconomics
- Utility
- Value and Price
- Wealth
- Wealth and Welfare
- Wants
- Factors of Production
- Capital
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Explore DiagramsFrequently Asked Questions
What are the important topics in Basic Concepts of Economics for ICSE Class 11 Economics?
Key topics in Basic Concepts of Economics include Microeconomics and Macroeconomics, Utility and Marginal Utility, Value and Price, Wealth and Welfare. Study these first, then practise questions on each for Class 11 exams.
What do the concept maps for Basic Concepts of Economics show?
The 4 maps show how the ideas in Basic Concepts of Economics connect: Basic Concepts of Economics - Overview; Basic Concepts of Economics Overview. Each map is also written out as an outline on this page.
How should I revise Basic Concepts of Economics for Class 11 exams?
Learn the core ideas first, then work through the 43 practice questions on Basic Concepts of Economics. Revise definitions regularly and use flashcards for quick recall before the exam.
Sources & Official References
Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.
More resources for Basic Concepts of Economics
Practice Quiz
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Important Questions
Exam-style questions with answers
Revision Notes
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Formula Sheet
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Chapter Summary
Understand the chapter at a glance
Study Plan
Step-by-step plan for this chapter
Flashcards
Quick-fire cards for active recall
Syllabus
What topics to cover
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