Class 12 Economics NCERT Solutions - Free PDF download
NCERT Solutions for Class 12 Microeconomics and Macroeconomics provided on this page will help the students to prepare for their board examinations. These PDF solutions will give students the opportunity to understand the subject in a precise manner. All the questions are solved in a detailed manner and in an easy language by the subject experts. Students can download these pdfs for free and prepare for exams anytime and from anywhere. Students can find NCERT Solutions pdfs of all the chapters of Class 12 microeconomics and macroeconomics below.
Detailed Overview of Class 12 Economics NCERT Solutions
Class 12 is a year that creates a lot of anxiety and stress in students. It triggers feelings of fear since students are constantly reminded that Class 12 marks are very important with regard to one’s future. The subject of Eco Class 12 plays a vital role in deciding the college and the stream of subjects selected for higher studies. Also, in a way, it determines the career options and paths of a student. This creates a huge amount of pressure on the students.
Economics is an essential branch of study that aids students to understand their surroundings in great detail. It further analyses business, market and Government, and they directly impact the economy of the country. NCERT Solutions for Economics Class 12 thus primarily focuses on the aspects that assist students in getting a firm grasp on this subject. our expert teachers at Vedantu has made NCERT Solutions for Class 12 commerce textbook, which will guide you to understand the tricky theories easily.
Thesyllabus of Economics Class 12is primarily divided into two major parts - Microeconomics and Macroeconomics. While the former deals with individuals and their economic issues, the latter studies the behaviour of large-scale economic factors like that of Government and National productivity.
Economics is a very practical subject. It deals with so many important topics that play a huge role in our everyday life. Economics is basically a study of production, distribution and usage of products as well as services. It originates from the Greek word “eco” which means home and “nomos” which means accounts. Economics was initially a hobby that proved to become a huge study that currently is in high demand and offers many lucrative positions.
Economists are employed in so many different businesses. They are a part of banks, government and private organisations. As economists, one would deal with the cost of goods and services and the initial cost of the resources which produce them. Economists spend a lot of time analysing the way in which all the labour and force is combined and how the buyers and sellers interact.
All of these concepts are explained in detail in NCERT plus two Economics, and the questions for these are answered in Vedantu’s NCERT Economics Class 12 PDF solutions.
In this regard, theNCERT bookis essential for the students of Eco Class 12 that covers these aspects well. Moreover, by solving the NCERT solution of Economics Class 12, they can get an overall idea of this subject as well as score well in the examination.
NCERT Economics Class 12: Chapter-wise Solution
Following is a brief overview of the Class 12th Economics syllabus.
Chapter 1: Introduction to Economics
The first chapter of 12th Economics provides an introductory note of Economics and its allied concepts like the scope of it, reasons for economic problems, etc. This chapter also deals with the concept of micro and macroeconomics.
Chapter 2: Consumer Equilibrium
This chapter of Economics 12th PDF solution deals with concepts like budget line, budget set, the downward sloping of budget line and others. The second chapter also talks about utility and marginal utility.
Chapter 3: Demand
The third chapter of Economics Class 12 contains several numerical problems and topics like market demand, the law of demand, change of demand, etc.
Chapter 4: Elasticity of Demand
Just like the previous chapter, this one also gives an account of concepts such as elasticity of demand, inelastic demand and related sums.
Chapter 5: Production
The fifth chapter focuses on the production function, total and average of the product of an input, marginal product of input and others.
Chapter 6: Cost
From this chapter, students will get to learn about different types of cost like total cost, variable cost as well as cost function with proper explanation.
Chapter 7: Supply
This chapter further elaborates how different aspects like technological progress, increased price of input affects a supply curve of a business organisation.
Chapter 8: Revenue
From this chapter of Economics Numericals for Class 12 CBSE PDF students will get to know about different kinds of revenue and how that influences a firm.
Chapter 9: Producer Equilibrium
The ninth chapter of Class 12 Economics explains how producer equilibrium is attained through some effective measures like an MR/MC approach and so on.
Chapter 10: Perfect Competition
Starting from defining a good market and different forms of the market to homogeneous products, all are part of this chapter.
Chapter 11: Non - Competitive Market
This chapter gives a detailed explanation of monopolistic competition, its association with zero profit and similar concepts.
Chapter 12: Market Equilibrium and Simple Application
The concluding chapter of Economics Class 12 provides conceptual insights into the equilibrium price of a commodity and its representations through supply and demand graphs and others.
Chapter 1: Introduction to MacroEconomics and Its Concepts
The first chapter of Economics Class 12 macroEconomics gives an account of the Great Depression of 1929, features of a capitalist economy, etc.
Chapter 2: National Income and Related Aggregates
This chapter of NCERT 12 Economics discusses concepts like factor payment, planned and unplanned inventory accumulation, etc.
Chapter 3: Money
The third chapter of the 12th Commerce Economics textbook solutions deals with the importance of money and other concepts like a Barter system, money supply, transaction demand and so on.
Chapter 4: Banking
This chapter of CBSE Class 12 Economics highlights the functions of commercial banks, delimitation of money multipliers, etc.
Chapter 5: Aggregate Demand and Its Related Concepts
In this chapter, topics like Aggregate demand and supply, the consumption function, etc., are discussed.
Chapter 6: National Income Determination and Multiplier
Moving to the next chapter of Class 12 Economics, it deals with “Paradox of Thrift”, Effective Demand, and other numerical problems related to these concepts.
Following are the models of determining national income -
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Chapter 7: Excess Demand and Deficient Demand
Concepts like excess demand, inflationary gap, full employment, etc., are discussed in this chapter.
Chapter 8: Government Budget and Economy
This chapter points out the difference between capital expenditure, revenue expenditure, fiscal deficit, etc.
Chapter 9: Foreign Exchange Rate
In this chapter, different aspects of foreign exchange, like its system, rates, risk, etc., are elaborated.
Chapter 10: Balance of Payment
The concluding chapter of Economics Class 12 defines topics like balance of trade, visible and invisible items and other related ones with minute detail.
Why Study NCERT Class 12 Economics Solutions?
Following are some of the benefits of preparing from Class 12th Economics NCERT solutions.
Accurate and Informative Answers: The answers in NCERT Economics Class 12 PDF solutions are written by experts on the subject, and they have been in this field for many years. They have prior knowledge of the happenings of Economics, and their answers would be 100% accurate. The answers also follow NCERT plus two Economics syllabus, so they will not have any extra material or unwanted information.
Approved by Erudite Scholars and Teachers: As mentioned above, these answers are not only written by experts but also cross-examined by the staff and teachers who have been in the field of education for a very long time. This guarantees that the answers are trustworthy.
A Simple Explanation of Complex Topics: The speciality of Vedantu is that the answers are explained in a simple and eloquent manner. It is written in points with crisp wordings. This makes reading and remembering very easy and simple. Understanding becomes easier with this simple language. With this lucid style of writing, students can rest assured that all the solutions cover all points.
Using Vedantu’s solutions, students will be exposed to a way of writing answers. With time, students will be able to frame answers to all questions with ease.
The solutions are made available for everyone without any extra fee or payment. They are free of cost and can be viewed on the official Vedantu website.
The NCERT Economics Class 12 PDF solutions can also be downloaded for offline use. This increases the convenience of usage, and the students can view it on multiple devices offline. This includes using it in the form of a printout.
Thus, by downloading a PDF of Economics Class 12 solutions by Vedantu, students can ace board examinations with remarkable marks.
With so many advantages of downloading Vedantu’s solutions for Class 12 Economics, there shouldn’t be anything that is stopping you from getting hold of these solutions. Head straight to the website and download the solutions now!
You can also download other study material like revision notes and other important questions, and even the NCERT textbook from our website. So, what are you waiting for? It’s time to start studying!
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. What Does High Powered Money Mean?
Ans. 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 Class 12 Economics?
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 Solutions for Class 12 Economics Subject?
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 Class 12 Economics?
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 Class 12 Economics?
To study Economics, you need more practical knowledge. There are six chapters in Class 12th Economics. They are -
Chapter 1 - Introduction to Macroeconomics
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 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.