Download CBSE Important Questions for CBSE Class 12 Economics Introduction to Economics Meaning of microeconomics and macroeconomics What is an economy? Central problems of an economy: what, how and for whom to produce; concepts of production possibility frontier and opportunity cost.
Download CBSE Important Questions for CBSE Class 12 Economics Consumers Equilibrium and Demand Consumer's equilibrium - meaning of utility, marginal utility, law of diminishing marginal utility, conditions of consumer's equilibrium using marginal utility analysis. Indifference curve analysis of consumer's equilibrium-the consumer's budget (budget set and budget line), preferences of the consumer (indifference curve, indifference map) and conditions of consumer's equilibrium. Demand, market demand, determinants of demand, demand schedule, demand curve and its slope, movement along and shifts in the demand curve; price elasticity of demand - factors affecting price elasticity of demand; measurement of price elasticity of demand - (a) percentage change method and (b) geometric method (linear demand curve); relationship between price elasticity of demand and total expenditure.
Download CBSE Important Questions for CBSE Class 12 Economics Producer Behaviour and Supply Production function –Short-Run and Long-Run Total Product, Average Product and Marginal Product. Returns to a Factor Cost: Short run costs - total cost, total fixed cost, total variable cost; Average cost; Average fixed cost, average variable cost and marginal cost-meaning and their relationships. Revenue - total, average and marginal revenue - meaning and their relationships. Producer's equilibrium-meaning and its conditions in terms of marginal revenue-marginal cost. Supply, market supply, determinants of supply, supply schedule, supply curve and its slope, movements along and shifts in supply curve, price elasticity of supply; measurement of price elasticity of supply - (a) percentage-change method and (b) geometric method.
Download CBSE Important Questions for CBSE Class 12 Economics The Theory of the Firm Under Perfect Competition Perfect competition - Features; Determination of market equilibrium and effects of shifts in demand and supply. Other Market Forms - monopoly, monopolistic competition, oligopoly - their meaning and features. Simple Applications of Demand and Supply: Price ceiling, price floor.
Download CBSE Important Questions for CBSE Class 12 Economics National Income Accounting Some basic concepts: consumption goods, capital goods, final goods, intermediate goods; stocks and flows; gross investment and depreciation. Circular flow of income; Methods of calculating National Income - Value Added or Product method, Expenditure method, Income method.
Download CBSE Important Questions for CBSE Class 12 Economics Money and Banking Money - its meaning and functions. Supply of money - Currency held by the public and net demand deposits held by commercial banks. Money creation by the commercial banking system. Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's Bank, Controller of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Download CBSE Important Questions for CBSE Class 12 Economics Income Determination Ex Ante and Ex Post: Movement Along a Curve Versus Shift of a Curve, The Short Run Fixed Price Analysis of the Product Market- A Point on the Aggregate Demand Curve, Effects of an Autonomous Change on Equilibrium Demand in the Product Market, The Multiplier Mechanism
Download CBSE Important Questions for CBSE Class 12 Economics The Government: Budget and the Economy Government budget - meaning, objectives and components. Classification of receipts - revenue receipts and capital receipts; classification of expenditure –revenue expenditure and capital expenditure. Measures of government deficit - revenue deficit, fiscal deficit, primary deficit their meaning.
Download CBSE Important Questions for CBSE Class 12 Economics Balance of Payments The Balance of Payments: BoP Surplus and Deficit, The Foreign Exchange Market- Determination of the Exchange Rate, Flexible Exchange Rates, Fixed Exchange Rates, Managed Floating, Exchange Rate Management: The International Experience. The Determination of Income in an Open Economy- National Income Identity for an Open Economy, Equilibrium Output and the Trade Balance. Trade Deficits, Savings and Investment