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Some Mathematical Tools Used In Economics — Revision Notes

ICSE · Class 11 · Economics

Some Mathematical Tools Used In Economics revision notes for ICSE Class 11 Economics: 3 topics in quick points.

65 questions26 flashcards8 formulas & key relations5 concepts

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Key Topics to Revise

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1. Statistical Tools and Mathematical Tools in Economics

  • Statistical tools are used for the collection, organisation, presentation, analysis, and interpretation of data.
  • Sample and census techniques are statistical tools for collection of data.
  • Array of data and tally bars are statistical tools for organisation of data.
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2. Slope of a Straight Line

  • Slope is the ratio of change in Y to change in X between two points of a curve.
  • This definition applies to all types of curves whether a straight line, or convex or concave.
  • X variable is represented on the X-axis and Y variable is represented on the Y-axis.
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3. Equation of a Straight Line

  • A straight line curve is of y = a + bx or y = a - bx type.
  • In these equations, x and y are the values of the two functional variables.
  • a and b are constants, with b as the absolute value of the slope.

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Key Concepts

Statistical tools are used forA curve is the graphic representationSlope is the ratio of changeA downward sloping straight line hasAn upward sloping straight line has

Frequently Asked Questions

What are the important topics in Some Mathematical Tools Used In Economics for ICSE Class 11 Economics?
Key topics in Some Mathematical Tools Used In Economics include Statistical Tools and Mathematical Tools in Economics, Slope of a Straight Line, Equation of a Straight Line. Study these first, then practise questions on each for Class 11 exams.
How should I revise Some Mathematical Tools Used In Economics for Class 11 exams?
Learn the core ideas first, then work through the 65 practice questions on Some Mathematical Tools Used In 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.

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All ICSE Class 11 Economics Revision Notes

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