Economics Chapter 1 Full Explanation | Class 12 Economics NEB | Concept of Economics

Welcome to Episode 1 of Economics Chapter 1: Introduction to Economics — specially designed for Class 12 NEB Management students of Nepal! 🎓

In this video, we’ll cover every important topic from the first chapter in a simple, clear, and exam-oriented way — from scarcity and choice to mixed economy. This series will help you understand economics from zero to hero, following your NEB syllabus.

📘 In this Episode (Chapter 1 – Introduction to Economics):
⏱ Timeline:
0:00–6:55 ➤ Scarcity and Choice – Understand what scarcity means in economics, why we have to make choices, and how opportunity cost arises due to limited resources.
6:55–16:15 ➤ Production Possibility Curve (PPC) – Learn how PPC shows the concept of opportunity cost and efficient resource use.
16:15–19:52 ➤ Shift in PPC – Discover why the PPC curve shifts right or left and what it means for economic growth and decline.
19:52–22:20 ➤ Allocation of Resources – Explore how economics decides the best use of limited resources among competing wants.
22:20–27:47 ➤ Division of Labour – Understand how dividing work increases efficiency and productivity.
27:47–31:49 ➤ Market Economy – Learn how price and demand determine production and distribution in capitalist systems.
31:49–35:43 ➤ Command Economy – Know the features of socialism and how government plays a central role in resource allocation.
35:43–38:56 ➤ Mixed Economy – Discover how Nepal and many countries combine both market and command features.

💡 Why Watch This Video:
✔ Covers every topic in Chapter 1 (Introduction to Economics) as per NEB syllabus
✔ Explained in simple language for Nepali students
✔ Helps in exam preparation and conceptual clarity
✔ Visual and whiteboard explanations for easy understanding

🎯 Next Episodes Coming Soon:

Episode 2: Economics Chapter 2 (Subject Matter of Economics)

Episode 3: Chapter 3 (Utility, Demand, and Elasticity)

Full Movie: All Chapters Combined for Class 12 Economics

📚 This series is part of the Hero to Zero Economics Series made for NEB students preparing for board exams. If you’re studying for NEB Class 12 Management or preparing for your final exam, this video is a must-watch!

📢 Don’t forget to like, share, and subscribe for more full chapter videos and short revision reels.
🎥 New episodes uploaded every week!

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