NCERT solutions for class 12 Economics

NCERT 12 Economics Text book Solutions

NCERT 12th class Economics book solutions are available in PDF format for free download. These ncert book chapter wise questions and answers are very helpful for CBSE board exam. CBSE recommends NCERT books and most of the questions in CBSE exam are asked from NCERT text books. Class 12 Economics chapter wise NCERT solution for Economics part 1 and Economics part 2 for all the chapters can be downloaded from our website and myCBSEguide mobile app for free.

NCERT Class 12 Economics Chapter-wise Solutions

Part A – Microeconomics

• Introduction
• Theory o Consumer Behavior
• Production and Costs
• Theory of Firm Under Perfect Competition
• Market Competition
• Non Competitive Markets

Part B – Macroeconomics

• Introduction
• National Income Accounting
• Money and Banking
• Income Determination
• Government Budget and Economy
• Open Economy Macroeconomics

CBSE class 12th Economics have two books. Each book has chapters and topics.

1. NCERT Economics Book Class 12 Part-A
2. NCERT Economics Book Class 12 Part-B

Here is the list of topics covered under each chapter of class 12 Economics NCERT text book.

CHAPTER ONE Theory o Consumer Behavior

1. The Consumer’s Budget

   1. Budget Set
   2. Budget Line
   3. Changes in the Budget Set
2. Preferences of the Consumer
   1. Monotonic Preferences
   2. Substitution between Goods
   3. Diminishing Rate of Substitution
   4. Indifference Curve
   5. Shape of the Indifference Curve
   6. Indifference Map
   7. Utility
3. Optimal Choice of the Consumer
4. Demand
   1. Demand Curve and the Law of Demand
   2. Normal and Inferior Goods
   3. Substitutes and Complements
   4. Shifts in the Demand Curve
   5. Movements along the Demand Curve and Shifts in the Demand Curve
5. Market Demand
6. Elasticity of Demand
   1. Elasticity along a Linear Demand Curve
   2. Factors Determining Price Elasticity of Demand for a Good
   3. Elasticity and Expenditure

CHAPTER TWO Production and Costs

1. Production Function
2. The Short Run and the Long Run
3. Total Product, Average Product and Marginal Product
   • Total Product
   • Average Product
   • Marginal Product
4. The Law of Diminishing Marginal Product and the Law of Variable Proportions
5. Shapes of Total Product, Marginal Product and Average Product Curves
6. Returns to Scale
7. Costs
   • Short Run Costs
   • Long Run Costs

CHAPTER THREE Theory of Firm Under Perfect Competition

1. Perfect competition: Defining Features
2. Revenue
3. Profit Maximisation
   1. Condition 1
   2. Condition 2
   3. Condition 3
   4. The Profit Maximisation Problem: Graphical Representation
4. Supply Curve of a Firm
   1. Short Run Supply Curve of a Firm
   2. Long Run Supply Curve of a Firm
      1. The Shut Down Point
   3. The Normal Profit and Break-even Point
5. Determinants of a Firm’s Supply Curve
   1. Technological Progress
   2. Input Prices
   3. Unit Tax
6. Market Supply Curve
7. Price Elasticity of Supply
   1. The Geometric Method

CHAPTER FOUR Market Competition

1. Equilibrium, Excess Demand, Excess Supply
   1. Market Equilibrium: Fixed Number of Firms
   2. Market Equilibrium: Free Entry and Exit
2. Applications
   1. Price Ceiling
   2. Price Floor

CHAPTER FIVE Non Competitive Markets

1. Simple Monopoly in the Commodity Market
   1. Market Demand Curve is the Average Revenue Curve
   2. Total, Average and Marginal Revenues
   3. Marginal Revenue and Price Elasticity of Demand
   4. Short Run Equilibrium of the Monopoly Firm
2. Other Non-perfectly Competitive Markets
   1. Monopolistic Competition
   2. How do Firms behave in Oligopoly?

Part B – Macroeconomics

CHAPTER ONE National Income Accounting

1. Some Basic Concepts of Macroeconomics

2. Circular Flow of Income and Methods of Calculating National Income
   1. The Product or Value Added Method
   2. Expenditure Method
   3. Income Method
3. Some Macroeconomic Identities
4. Goods and Prices
5. GDP and Welfare

CHAPTER TOW Money and Banking

• Functions of Money
• Demand for Money
  1. The Transaction Motive
  2. The Speculative Motive
• The Supply of Money
  1. Legal Definitions: Narrow and Broad Money
  2. Money Creation by the Banking System
  3. Instruments of Monetary Policy and the Reserve Bank of India

CHAPTER THREE Government Budget and Economy

1. Components of the Government Budget
   1. The Revenue Account
   2. The Capital Account
   3. Measures of Government Deficit
2. Fiscal Policy
   1. Changes in Government Expenditure
   2. Changes in Taxes
   3. Debt

CHAPTER FOUR Open Economy Macroeconomics

1. The Balance of Payments
   1. BoP Surplus and Deficit
2. The Foreign Exchange Market
   1. Determination of the Exchange Rate
   2. Flexible Exchange Rates
   3. Fixed Exchange Rates
   4. Managed Floating
   5. Exchange Rate Management: The International Experience
3. The Determination of Income in an Open Economy
   1. National Income Identity for an Open Economy
   2. Equilibrium Output and the Trade Balance
4. Trade Deficits, Savings and Investment

NCERT Solutions for Class 12th Economics

NCERT Solutions Class 12 Economics PDF (Download) Free from myCBSEguide app and myCBSEguide website. Ncert solution class 12 Economics includes text book solutions from both part 1 and part 2. NCERT Solutions for CBSE Class 12 Economics have total 15 chapters. Class 12 Economics ncert Solutions in pdf for free Download are given in this website. Ncert Economics class 12 solutions PDF and Economics ncert class 12 PDF solutions with latest modifications and as per the latest CBSE syllabus are only available in myCBSEguide.

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