Notes Class XII Economics (Introductory Microeconomics) Chapter 1 Introduction

Class 12 Economics (Introductory Microeconomics) Chapter 1: Introduction provides the foundational understanding of the subject. This chapter explains what economics is, its central problems, and the basic economic questions of what to produce, how to produce, and for whom to produce. It introduces key concepts like scarcity, opportunity cost, and economic resources. Students also learn the distinction between microeconomics and macroeconomics and explore the role of an economy in managing resources efficiently. This chapter lays the groundwork for understanding individual economic behavior and market mechanisms.

These notes are designed to simplify complex ideas, provide clear definitions, and help students prepare effectively for board exams.