ISC Class 12 Economics Question Paper 2018
1. What is the Vitality of the Vedantu Learning Program in ISC Class 12 Economics?
An efficient study program has been developed by Vedantu that is very helpful for students. Its important aspects are:
Student-friendly education technique.
Addressing the doubts of all students effectively.
Availability of practice papers, previous year question papers, and the mock tests on the ISC Economics syllabus.
2. What Do You Mean by Macroeconomics and Microeconomics?
As per the theory in Economics, it is classified into the following two types macroeconomics and microeconomics.
Macroeconomics is the section of Economics that deals with large-scale economic factors for example national productivity and interest rates.
Microeconomics is the section of Economics dealing with the studies of the behaviour of the individual and firms for the allocations of products and services.
3. How Do You Define a Market System?
A market system is signified as different types of products or services that are available with different price ranges which are mutually agreed upon by the sellers and buyers at which exchanging happens.
4. What Do You Mean by a Centrally Planned Economy?
In this type of economy, the government strategizes all necessary activities in the economy. The government also takes all important decisions about the production, exchange, and consumption of goods and services.