NCERT Solutions for Class 12 Micro Economics - Free PDF Download
Class 12 Micro Economics has chapters related to consumerism, cost production, market equilibrium, and other important topics. This is why students will need the ideal study material to complete preparing these chapters. This study material should contain the Class 12 Micro Economics Chapters solutions composed by the experts of Vedantu. These solutions will aid students to develop their concepts and learn how to answer fundamental questions accordingly.
The two main branches of economics are micro and macroeconomics. Microeconomics is the branch of economics that deals with the specific study of economics at the level of small firms, households, and individuals. It specialises in allocating funds and resources. For example, students will learn how a company can maximise its production so as to minimise its prices. This would make it a better competition in the market.
The subject is a new one for students; hence it requires a good amount of effort to understand while reading and learning the subject. It is important that the students are firm with the basics. Many important aspects are taught in classes 11 and 12 which would be required even in college studies.
NCERT Solutions Class 12 Economics: Microeconomics - Free PDF Download
In order to have a better understanding of the subject, download the NCERT Microeconomics Class 12 PDF, which will give you detailed solutions for all six chapters of this subject with the help of diagrams and graphs. These solutions are based on the latest CBSE syllabus, and practising them can help you score good marks in the exam. The content writers for Microeconomics Class 12 NCERT solutions are experts in these fields so that you can rely on these solutions.
NCERT Solutions for Class 12 Micro Economics - Chapter-wise List
Given below are the chapter-wise NCERT Solutions for Class 12 Micro Economics. These solutions are provided by the Micro Economics experts at Vedantu in a detailed manner. Go through these chapter-wise solutions to be thoroughly familiar with the concepts.
NCERT Solutions Class 12 Micro Economics Chapter-wise List
Here is an overview of the chapters that are a part of Microeconomics:
Chapter 1: Introduction:
This chapter deals with the meaning of produce, what to produce, how to produce and for whom. It also distinguishes between the meanings of micro and macroeconomics.
Chapter 2: Theory of Consumer Behaviour:
The chapter covers some important topics like utility and marginal utility. It includes many numerical problems, which are also solved stepwise.
Chapter 3: Production and Cost:
This chapter deals with the concept of production and production function, products of input, the relationships between the different products of input, cost, and proportions.
Chapter 4: The Theory of Firm Under Perfect Competition:
This chapter talks about what perfect competition means, what a price line is, large numbers of sellers and buyers, homogenous products, entry and exit and apt mobility.
Chapter 5: Market Equilibrium:
The chapter mainly talks about market equilibrium, quality and price as well.
Chapter 6: Non-Competitive Markets:
The chapter talks about what a market is, monopoly and oligopoly.
These key points are very useful for revision purposes as they cover all of the important topics in the chapter 3 business environment.
In order to understand these chapters in detail, download the free PDF of NCERT solutions Class 12 Microeconomics. This will help you to understand all the concepts and key points in an organized step-by-step manner which will help you to recall all the answers in the examination correctly.
NCERT Solutions For Class 12 Microeconomics Chapter-Wise Marks Weightage
Microeconomics is Divided into Four Units -
Unit 1- Introduction (4 marks)
Unit 2- Consumer Behaviour and Demand (13 marks)
Unit 3- Producer Behaviour and Supply (13 marks)
Unit 4- Forms of Market and Price Determination (10 marks)
These key points are very useful for revision purposes as they cover all of the important topics in the subject. As graphical representations, numerical and diagrams are important aspects of Microeconomics. Therefore, along with subjective answers, a lot of graphs and numerical based questions are also given in NCERT solution PDF for a better understanding of the subject Microeconomics for Class 12.
Why are NCERT Solutions for Class 12 Important?
NCERT solutions focus on fundamentals to help students with basic concepts in a systematic manner.
The summaries of concepts and notes can be very useful for the last minute preparations.
NCERT Economics Class 12 Microeconomics Solutions provide detailed step-by-step explanations and help students to solve doubts by giving them proper guidance throughout the process.
Questions keep repeating in the Board exams from this subject, for which preparing from these study materials makes students score better.
Practising a variety of questions from NCERT solutions and referring to sampled solved questions can help you to get a hang of twisted questions as well.
The subject is new, and students need to get used to the topic and methodology of the study. This is where the solutions play a huge role as the students can understand the way of answering questions for the subject.
NCERT Economics Class 12 Microeconomics can be tricky, especially since there are many numerical problems to solve as well. Students might require extra assistance to get a strong foundation in the subject.
Vedantu’s NCERT Solutions for Class 12 Microeconomics are available free of cost for all students on the website. One can access it at any time, from any internet-connected device.
These NCERT Economics Class 12 Microeconomics Solutions can also be downloaded on the device for offline use in the form of a PDF file, making it extremely user-friendly.
Thus in Vedantu, we commit boundless help, resources and guidance for the students. All these solution books provided by us act as a reference book for a student which further helps them to study in an effective manner. Revisions are made easy, and answers are simplified.
Importance of CBSE Class 12 Micro Economics Chapter Wise Solutions
As mentioned earlier, these chapters have been included in the Class 11 Micro Economics syllabus to develop the concepts. Every chapter has exercises that cover the fundamental concepts students will learn. Hence, the answers should be precise and according to the mandated CBSE format.
This is where the solutions created by the experts will act as the perfect 12th Micro Economics Guide to compile such answers on your own. Refer to the solutions when you are preparing the chapters and find these answering formats. Practise answering the exercise questions following these formats and develop your conceptual foundation of this subject.
These solutions will also enable students to find out which chapters they need to focus on more. They will act as an evaluation tool that students can use to assess their preparation level. By comparing their answers to the solutions, they can find out where they need to polish their answering skills more. They will also learn which sections of a chapter need more attention.
Benefits of opting to NCERT Solutions Class 12 Micro Economics
All the exercises have been covered chapter-wise so that you can find the respective files with convenience. Hence, you will not have to spend more time finding the right answers to the exercise questions and can take your preparation to the next level.
The solutions have been framed in an easier tone so that you can grab hold of the contexts of the exercise questions better. It will help you to understand the conceptual way of attempting such questions without any hassle.
Follow the answering formats and develop the ideal strategy to attempt to answer such questions to score more in the exams.
Become more competitive by resolving your doubts faster by using the solutions provided by the experts. These solutions will guide you to decode the concepts of Micro Economics in a better way.
Download NCERT Solutions Class 12 Micro Economics PDF
Learn how many Chapters in Micro Economics Class 12 are there on the list and find the respective files you need according to your study schedule. Get the best answers to the questions in the exercises and take a step ahead. Perform the Chapter wise PDF download Class 12 Micro Economics and make your preparation sessions more productive to score more in the exams.
The Law of Variable Proportions is also popularly known as the Law of Diminishing Returns.
According to this law, when one of the inputs involved in the production is changed while keeping the other inputs constant, there will be a point after which the output per unit of that particular input will start to decrease.
This law is theorized under certain assumptions.
i) The technology should remain the same.
ii) Some inputs should be kept constant
iii) The possibility that the factors of production can be changed within a short period.
2. What are the Characteristics of a Perfectly Competitive Market?
A perfectly competitive market exhibits the following characteristics.
i) Every category has many sellers and buyers.
ii) All companies have access to the market without any transport costs.
iii) Multiple choices for similar products.
iv) All the products are homogeneous. It means as every product has the same properties, a uniform price can be achieved.
v) There is no price control and the producers can set the prices as per the market demands and supply chains that are available.
vii) Sellers or buyers are well-informed and are free to make decisions based on their knowledge of the market.
3. Which is the first chapter of Economics class 12?
Macroeconomics is the first chapter in this course. It provides an outline of our current economic situation. It goes over the basics of macroeconomics, including the introduction, emergence, and several other related ideas. To summarise, this chapter will cover subjects such as GDP, unemployment rate, price indices, consumption, inflation, savings, investment, international commerce, international finances, and a variety of other topics.
4. How many chapters are there in economy class 12?
To study economics, you need more practical knowledge. There are 6 chapters in class 12th economics.
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.
You can find solutions for all these chapters on Vedantu. These solutions are written by subject matter experts in easy to understand language. All the solutions are available free of cost. Students just need to download the solutions and save them on their computers.
5. What do you mean by Macroeconomics class 12?
Macroeconomics is an economics discipline that studies an economy's general behaviour, structure, performance, and decision-making. Vedantu offers a dedicated staff of experts that are always available to assist students with their studies. To meet the needs of students, skilled teachers with years of expertise have created these Class 12 Chapter 1 Macroeconomics Solutions using the current NCERT standards.
6. What does class 12 Microeconomics Chapter 2 Solutions revolve around?
CBSE Class 12 Microeconomics Chapter 2 Solutions revolves around the most important parts of economics that a student should understand. Beginners may find these subjects perplexing in many cases. And it is at this point that NCERT solutions can help to make the learning process easier and more clear. Without a doubt, the study resources given here may help a student gain a thorough understanding of the subject.
7. What does Vedantu offer for class 12 Microeconomics?
All of the answers to the questions in the chapter as well as the exercises are included in the NCERT Solutions for Class 12 Microeconomics. All of the content and information in the PDF of NCERT answers Class 12 Microeconomics is accurate and described in such a way that even the most inexperienced learner can grasp it. So, download NCERT Solutions for class 12 Microeconomics and get ready to score great marks.