NCERT Books for Class 12 Macro Economics
1. How Many Chapters are Present in NCERT Class 12 Macroeconomics Book?
Ans. One of the shorter books, the class 12 macroeconomics textbook from NCERT includes only six chapters. However, each chapter comes with several sections and sub-sections. Thus, students must undertake a comprehensive study of the subject. Topics range from the basics of an economy to the governmental budget formation.
2. What are Broad and Narrow Money in Macroeconomics?
Ans. Narrow definition of money is based on a medium of payment functionality of money. M1 and M2 are categorised as narrow money. You can say that demand deposits in banks and currency are examples of narrow money.
According to a broader definition of money, the store of value function of money is considered. M3 and M4 are broad money, where bank demand deposits, currency and saving deposits in post offices and banks are common examples of the same.
3. What are NCERT Class 12 Macroeconomics Solutions?
Ans. These solutions refer to brief questions with short answers. Generally, such solutions and questions are present at the end of a particular chapter in most NCERT textbooks. Students can solve these on their own and check whether their answers match with the given solutions. Solving them can greatly help in retaining useful knowledge from each chapter.
4. How is Microeconomics Different from Macroeconomics?
Ans. The biggest difference between the two is the scale at which they operate. Microeconomics deals with the economic decisions of individuals and/or businesses. Macroeconomics, on the other hand, is only concerned with economic study related to governments and countries. For a commerce student, learning both of these is crucial for long-term success.