VBQs Introduction Class 11 Economics with solutions has been provided below for standard students. We have provided chapter wise VBQ for Class 11 Economics with solutions. The following Introduction Class 11 Economics value based questions with answers will come in your exams. Students should understand the concepts and learn the solved cased based VBQs provided below. This will help you to get better marks in class 11 examinations.
Introduction VBQs Class 11 Economics
Very Short Answer Type Questions
Question. Define economics.
Answer : Economics is the study of how people and society choose the scare resources that could have alternative uses to satisfy their unlimited wants.
Question. Write the meaning of statistics in plural sense.
Answer : In plural sense statistics means numerical facts which have been systematically collected.
Question. State one limitation of statistics.
Answer : Statistics deals with quantitative facts only.
Question. What are non economic activities?.
Answer : The activities which have no economic aspect or are not related to earn money.
Question. Define consumer.
Answer : Consumer is an economic agent who buys the goods and services to satisfy his wants.
Question. Why does Economic problem arise?
Answer : Economic problem arise due to scarcity of resources and alternative uses of resources.