Introduction | Ch 1 Part - 2 | Micro Economics | Class 11 (2024-25) | CA Parag Gupta

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00:00 What is Economy ?
01:34 What is Scarcity ?
02:10 What is Economic Problem & its reasons
03:29 Economising of Resources
05:57 Limited Resources (Reason of Economic Problem)
10:29 Resources have alternative uses (Reason of Economic Problem)
14:43 Unlimited human Wants (Reason of Economic Problem)
17:59 Micro Economics VS Macro Economics
22:54 Capitalist Economy VS Socialist Economy
26:42 Central Problem - What to Produce ?
39:05 Central Problem - How to Produce ?
46:38 Central Problem - For Whom to Produce ?
54:15 FULL RECAP