NCERT Economy: Lesson 11 (Class 11th Chapter 2)

NCERT Class 11 Economics Book Chapter 2 consists Indian Economy 1950-1990. Now this can be read or downloaded from online also. Students in Grade 11 or preparing for a Grade 11 economics based exam can refer to the NCERT Economic Development India Book of Economics to prepare.

There are many chapters and topics covered in India’s 11th class economic development solutions. There should be a detailed understanding of these chapters to judge good grades. Our article will help you understand what the chapter consists of.

It consists of :

Chapter 2: Indian economy

  • The goals of the five year plan
  • Agriculture
  • industry and trade
  • Trade policy import substitution

Before that let us see!

What is the economy ?

An economy can be a system of companies and organizations that play a role in the production and distribution of products and services in society. Economies determine how resources are distribution among members of the community;They determine the value of products or services; And they also determine whether most goods are frequently traded or exchanged for those services and goods

How a society builds its economy is essentially a political and social issue. The political and legal structure of a society regulates how wealth is often accumulated, how wealth and resources are distributed, and therefore the process that allows competition between different participants in the economy.

After studying this chapter, students will

There are many chapters and topics covered in the development of the Indian economy. There should be a detailed understanding of these chapters to judge good grades. Our solutions will help you understand the same.

This detailed things that chapter consists:

1 Introduction:
1.1 Types of Economic Systems
2 The goals of five years plan:
2.1: What is a Plan
2.2 Mahalanobis: the Architect of Indian Planning
2.3 The Service Sector
3 Agriculture:
3.1 Ownership and Incentives
3.2 Prices as Signals
4 Industry and Trade:
4.1 Market and State in Indian Industrial Development: 
4.2 Industrial Policy Resolution 1956 (IPR 1956): 
4.3 Small-scale Industry: 
5 Trade Policy and Import substitution
6 Conclusion


Here students can learn about economics, which are very useful for a good understanding of indian economy from 1950-1990.

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