NCERT Solutions for Class 12 Economics (Macroeconomics and Microeconomics) - FREE PDF Download
NCERT Solutions for Economics Class 12 provides comprehensive and easy-to-understand explanations of all topics covered in the curriculum. Designed by Master teachers, these solutions look at individual and business decisions, which examine the economy as a whole. They offer step-by-step guidance to solve textbook questions, making it easier for students to prepare for exams.
- 4.1Class 12 Economics - Introductory Macroeconomics
- 4.2Class 12 Economics - Introductory Microeconomics
NCERT Solutions for Class 12 Economics are aligned with the latest CBSE guidelines. The Class 12 Economics subject is categorised into two parts i.e. Introductory Macroeconomics and Introductory Microeconomics. Using the CBSE Class 12 Economics Syllabus, students can enhance their understanding, improve their problem-solving skills, and excel in their economics studies.
NCERT Solutions for Class 12 Economics (Introductory Macroeconomics and Microeconomics)
Quick Overview of NCERT Solutions Class 12 Economics
NCERT Solutions for Class 12 Economics covers all chapters comprehensively from both categories, ensuring a thorough understanding of the NCERT textbook content.
These solutions enable students to practise and assess their understanding of economic principles, enhancing retention and clarity.
Each solution provides detailed explanations with step-by-step methods and practical examples, making learning and revision efficient.
They are crucial for exam preparation, helping students establish a solid foundation in economics and develop confidence in answering exam questions effectively.
Class 12 Economics - Introductory Macroeconomics
The Class 12 Economics book ‘Introductory Macroeconomics’ is designed to provide students with an understanding of how economies work. It covers important topics like national income, inflation, and government policies. The book is written simply and clearly, making it easy for students to understand complex ideas. By studying this book, students will learn how economic factors affect their daily lives and the overall economy. It provides a strong foundation for those interested in further studies or careers in economics.
Below is the pictorial representation of the Class 12 NCERT Economics (Introductory Macroeconomics) Syllabus for better understanding.
Class 12 Economics - Introductory Microeconomics
The Class 12 Economics book ‘Introductory Microeconomics’ helps students understand the basics of how individual markets and economic systems work. It explains concepts like demand and supply, how prices are determined, and the behaviour of consumers and producers. This book also covers topics like market competition, production costs, and different economic models. Written in simple language, it helps to make complex ideas easy to understand, helping students build a strong foundation in economics that they can use in higher studies and real life.
The following Chapters have been removed from Economics (Introductory Microeconomics) NCERT Class 12 for the Academic year 2024-25
Non-Competitive Markets
Below is the pictorial representation of the Class 12 NCERT Economics (Introductory Microeconomics) Syllabus for better understanding.
Benefits of Referring to Vedantu’s NCERT Solutions for Class 12 Economics (Introductory Macroeconomics and Introductory Microeconomics)
Economics Class 12 provides clear and detailed explanations for each topic, allowing students to better understand the concepts.
These solutions cover all important topics and questions from both the textbooks, which is helpful for thorough exam preparation.
Problems are solved step-by-step, making it simple for students to learn and apply problem-solving techniques.
Practising 12th economics solutions can help students improve their speed and accuracy, aiding in better time management during exams.
Regularly using Economics 12th PDF Solutions builds students' confidence, ensuring they are fully prepared for their exams from Economics class 12 solutions.
NCERT Solutions for Economics Class 12 provides a great resource for students to understand important economic concepts. With clear explanations and structured content, these solutions help students understand complex theories easily. By practising with NCERT Economics 12th PDF Solutions, students can improve their exam readiness and for their confidence. The comprehensive coverage ensures that students don't miss any important topics, preparing them thoroughly for their examinations. Overall, NCERT Class 12 Economics Question Answer is important in building a strong foundation in economics, essential for both academic success and practical understanding.
Related Important Links for Class 12 Economics
Along with this, students can also download additional study materials provided by Vedantu for CBSE Class 12 Economics –
FAQs on NCERT Solutions for Economics Class 12 2024-25 (Introductory Macroeconomics and Introductory Microeconomics)
1. What are the Four Aspects of Production in Economics Class 12?
The four vital aspects of Production are –
Land: It refers to natural resources like soil, water, air. A firm pays rent to acquire these services.
Labour: It denotes the mental and physical efforts that are required to perform a task. An organisation pays wages to the people who put their labour like workers, managers, engineers, etc.
Capital: It is a combination of monetary, physical and tangible investments that helps Production to progress. In exchange for these investments, a business receives interest.
Entrepreneur: It is an individual who undertakes risk and facilitates the Production. In return of entrepreneurship, he/she receives profits.
2. According to Economics Class 12 Question Answer what does High Powered Money Mean?
High Powered Money refers to the total liability of the Reserve Bank of India. It includes currency issued by the Government of India and cash deposits and reserves of commercial banks under RBI. Thus, it is expressed as -
H = C+R
Where H = High Powered Money
C = Currency
R = Bank and Government deposits with RBI
It is also called Secured money. Moreover, a crucial portion of this fund is deposited with commercial banks that are responsible for creating credit. Thus studying bank funds are of utmost importance to analyse the economic condition of a country.
3. How to Score Well in Economics Class 12?
First and foremost, students must have a clear idea about the entire syllabus of Class 12 Economics to start the preparation. In this context, they can follow the NCERT Economics book that covers the whole syllabus. Along with that, they need to clear the concepts thoroughly to develop a clear understanding of the same.
Once the syllabus is completed, they should start solving the questions related to each chapter, and for that, they can download NCERT Economics Class 12 PDF solutions. Furthermore, they also leave enough room for thorough revision before the exam schedule to score well.
4. Where can I find NCERT Class 12 Economics Question Answer?
When it comes to board examinations, NCERT Solutions is the most significant study tool you may use. On Vedantu, you can find NCERT Solutions for Class 12 Economics in PDF format. These solutions are available online, and you can also download the Solutions PDF to use offline. The greatest thing is that you can get the NCERT Solutions for Class 12 Economics PDF for free. All of the tasks in the NCERT Solutions for Class 12 Economics are solved by Vedantu experts. This way, if you are stuck on a subject, you may look for NCERT answers to help you grasp the ideas better.
5. What is Economics in Class 12?
Economics is an important field of study that helps students have a thorough understanding of their environment. It goes on to examine the business, market, and government, all of which have a direct influence on the country's economy. NCERT Solutions for Economics Class 12 focuses on the areas that help students have a strong understanding of the topic.
6. How many chapters are there in Macro Class 12 Economics?
To study Economics, you need more practical knowledge. There are six chapters in Class 12th Economics (Introductory Macroeconomics). They are -
Chapter 1 - Introduction
Chapter 2 - National Income Accounting
Chapter 3 - Money and Banking
Chapter 4 - Determination of Income and Employment
Chapter 5 - Government Budget and the Economy
Chapter 6 - Open-Economy Macroeconomics
7. Can I study Economics 12th PDF Solutions on the Vedantu website?
Yes. Students can find the NCERT Solutions for Class 12 Economics on Vedantu, along with other study material such as revision notes, important questions and sample papers as well as previous year question papers. These study materials are curated by highly qualified subject experts, for the reference of students. Hence, students who are preparing for their Class 12 Economics exam should utilise these study materials. The solutions are free of cost and are also available on the Vedantu Mobile app.
8. How is the Economics class 12 syllabus divided?
Microeconomics and Macroeconomics are the two primary components of the Economics Class 12 syllabus. While the former is concerned with people and their financial concerns, the latter is concerned with the behaviour of large-scale economic variables such as government and national productivity.
9. What is the toughest Chapter in Economics Class 12?
The toughest chapter in economics class 12 can vary for different students. Some find chapters like Open Economy Macroeconomics or Microeconomics of Government Intervention challenging due to their complex concepts.
10. Is 12th Economics tough?
Whether 12th economics is tough depends on individual understanding and interest. With regular study and understanding of concepts, it can be manageable for many students.
11. What are good questions to ask about Economics Class 12?
Good questions to ask about economics include understanding how supply and demand affect prices, the impact of government policies on businesses, and how global trade influences national economies.
12. How to score 100 percent in Economics class 12?
To score 100 percent in economics class 12, focus on understanding concepts deeply, practising numerical problems, revising regularly, and referring to NCERT textbooks and solutions. Clearing doubts through discussions and practice tests also helps.
13. Which chapter is most important in Economics Class 12?
The most important chapter in Economics class 12 can be subjective, but chapters like National Income and Related Aggregates, Money and Banking, and Government Budget and the Economy are often considered crucial due to their practical applications.
14. What is GDP in Economics Class 12?
GDP (Gross Domestic Product) in economics measures the total monetary value of all goods and services produced within a country's borders in a specific period, typically annually or quarterly.
15. What is the alternative name for macroeconomics in Economics Class 12 Question Answer?
Macroeconomics is also known as aggregate economics, as it deals with the economy as a whole, analysing national income, employment rates, inflation, and other broad economic indicators.
16. What are the 3 golden rules of Economics Class 12?
The 3 golden rules of economics class 12 are:
(1) Rational behaviour assumes individuals make decisions based on their self-interest.
(2) Decisions involve trade-offs, where choosing one option means forgoing another.
(3) Resources are limited, leading to the need for efficient allocation.
17. What are the 3 natural laws of Economics?
The 3 natural laws of economics from the 12th economics solutions are:
(1) Law of Demand, stating that as prices rise, demand falls, and vice versa.
(2) Law of Supply, indicating that as prices rise, suppliers produce more, and as prices fall, they produce less.
(3) Law of Diminishing Marginal Utility, which explains that the satisfaction derived from each additional unit of a good decreases over time.
18. What are the 7 key concepts of Class 12 Economics Solutions?
The 7 key concepts of 12th economics solutions include:
Scarcity (limited resources vs. unlimited wants), Opportunity Cost (value of the next best alternative), Supply and Demand (interaction determining prices), Production Possibility Frontier (graphical representation of resource allocation), Elasticity (response of quantity demanded or supplied to price changes), Market Structures (different types of competition), and Role of Government (intervention in markets for public welfare).