NCERT Books for Class 12 Micro Economics
1. What are the Differences Between Microeconomics and Macroeconomics?
Ans. Microeconomics is limited in scope, making it primarily the study of individual economic unit. It focuses on the cost price and output in specific markets. On the other hand, study of macroeconomics encompasses aggregate economic unit. It engages the determination of general price and output of the entire economy.
2. What is the Market Equilibrium as Per Class 12 Microeconomics NCERT?
Ans. As mentioned in NCERT economics class 12 microeconomics, market equilibrium includes such situations where quantity demanded, and the quantity supplied is equal with respect to a particular price. It indicates that market demand = market supply.
3. What is the Syllabus of Microeconomics Class 12 NCERT?
Ans. The syllabus of microeconomics 12th NCERT includes six chapters – (i) Introduction, (ii) Theory of Consumer Behaviour, (iii) Production and Costs, (iv) Theory of Firm under Perfect Competition, (v) Market Equilibrium and (vi) Non-Competitive Markets.
4. What is Perfect Competition According to NCERT Book Class 12 Microeconomics?
Ans. As explained in microeconomics NCERT book, perfect competition is the market situation where sellers and buyers operate without restraint and selling price of a commodity remains uniform.