Economics Short Notes - Asked Questions
1. Meaning of Economic and Utility of Economic Teaching
Economic refers to the system of production, distribution, and consumption of goods and services.
Utility of Economic Teaching:
- Helps in better decision-making.
- Provides understanding of society's economic activities.
- Raises awareness of economic policies.
- Opens career opportunities.
- Promotes efficient use of resources.
- Enhances global economic awareness.
2. Difference Between Unit Plan and Lesson Plan
Unit Plan:
- Covers multiple related lessons over a period.
- Broad and strategic.
Lesson Plan:
- Focuses on a single lesson or topic.
- Detailed and specific.
3. Nature of Economics
- Economics is a social science.
- Studies scarcity and choice.
- Combines positive and normative aspects.
- Classical view: Science of wealth.
- Modern view: Science of welfare and growth.
- Dynamic and uses models for explanation.
4. Importance of Macroeconomics
- Understands the whole economy.
Economics Short Notes - Asked Questions
- Helps formulate fiscal and monetary policies.
- Solves major economic problems.
- Measures national income and economic performance.
- Supports business planning and international trade.
- Forecasts economic trends.
- Aims to improve living standards.
5. Importance of Audio-Visual Aids in Teaching Economics
- Simplifies complex concepts.
- Increases student engagement.
- Enhances retention and memory.
- Encourages active learning.
- Connects theory to real life.
- Supports various learning styles.
- Saves time and clarifies ideas.
- Makes teaching more effective.
6. Main Objectives of Teaching Economics
- Understand basic economic concepts.
- Develop economic thinking.
- Raise awareness of economic issues.
- Encourage wise resource use.
- Prepare students for economic roles in society.
- Promote national development.
- Understand government policies.
- Build foundation for further study or career.
7. Relationship Between Economics and History
- History provides context for economic events.
- Economic history studies development over time.
Economics Short Notes - Asked Questions
- Helps analyze past policies and crises.
- Studies changes in human welfare.
- Understands development of institutions.
- Learns from past economic mistakes.
8. Characteristics of a Good Lesson Plan
- Clearly defined objectives.
- Well-structured and organized.
- Student-centered.
- Effective time management.
- Use of teaching aids.
- Variety of teaching methods.
- Includes assessment.
- Flexibility.
- Links previous and future lessons.
- Clear list of materials.
9. Importance of Unit Plan
- Organizes teaching systematically.
- Ensures continuity of lessons.
- Saves time in daily preparation.
- Sets clear learning objectives.
- Balances theory, practice, and evaluation.
- Plans assessments effectively.
- Addresses diverse student needs.
- Aligns with curriculum standards.
- Helps substitute teachers.
- Improves teaching quality.
10. Merits and Demerits of Laboratory Method
Economics Short Notes - Asked Questions
Merits:
- Learning by doing enhances understanding.
- Develops scientific attitude.
- Promotes active student participation.
- Makes concepts clearer.
- Encourages discovery and creativity.
- Builds practical skills.
Demerits:
- Time-consuming.
- Costly equipment and materials.
- Not suitable for all topics.
- Requires trained teachers.
- Potential risk of accidents.
- Limited to small groups.
11. Teaching Method and Its Importance
- Systematic approach for effective teaching.
- Facilitates better learning.
- Makes lessons interesting.
- Addresses different learning styles.
- Encourages student participation.
- Organizes teaching content.
- Improves teacher efficiency.
- Enhances communication.
- Supports assessment.
12. Sample Lesson Plan for Class 9 Economics (Demand and Law of Demand)
Objectives:
- Define demand and law of demand.
Economics Short Notes - Asked Questions
- Illustrate demand schedule and curve.
- Explain exceptions to the law.
Duration: 40-45 minutes.
Procedure:
- Introduction to demand.
- Explanation of law of demand.
- Drawing demand schedule and curve.
- Discussion of exceptions.
- Assessment through questions and plotting.
Evaluation:
- Check student plots.
- Review oral answers and homework.
