Revision Notes for CBSE Class 12 Macro Economics Chapter 2 - Free PDF Download
Macroeconomics Class 12 Chapter 2 mainly deals with one of the most significant topics of Macroeconomics namely National Income Accounting. Vedantu focuses on providing a picturesque description of Class 12 Macroeconomics Chapter 2 notes along with some other very significant topics. You will be introduced with several components of National Income Accounting such as Final goods, Intermediate goods, capital goods, investment etc. in Class 12 Economics Chapter 2 notes. Go through the notes PDF thoroughly if your goal is to secure good marks in Economics.
FAQs on National Income Accounting Class 12 Notes CBSE Macro Economics Chapter 2 [Free PDF Download]
1. What are NNP at Market Price and NNP Factor Cost?
In the National Income Accounting Class 12 chapter, Net National Income (NNP) is a very important topic. NNP at Market Price refers to the market value of final commodities and services in the current accounting year including factor income from abroad without the depreciation. NNP at Factor Cost refers to the aggregate of factor incomes received by the residents of a country within the boundary in a period of one year.
2. What are the Externalities?
In the Macroeconomics Class 12 Chapter 2, externalities are the benefits a company or an individual causes to another for which they remain unpaid.
3. What is the importance of National Income Accounting?
The amount of economic activity taking place in a country is as important as the quality and quantity of goods that are either produced or imported into the country. This in turn affects the material well being of the citizens of that country. The Indian economy produces a large number of goods such as fruits, vegetables, locomotives, etc. National income accounting provides information on the economic activity of the country. The variations in numbers derived help policymakers formulate efficient policies for both the government and private sector.
4. Is Chapter 2 of Class 12 Economics easy?
Class 12 CBSE Economics Chapter 2 is one such chapter that can be mastered if done the right way. Understanding the various concepts that are introduced in each chapter is very important. Refer to different textbooks within your curriculum to gain different perspectives on the same topic. Vedantu has notes curated specifically for this purpose. You can use them to study topics that you aren't clear with. You can also use these notes as revision material before your examination.
5. Where can I find notes for Chapter 2 of CBSE Class 12 Macroeconomics?
Vedantu is the go-to website for every student when it comes to looking for answers regarding anything academic-related. There are a total of 6 chapters in Macroeconomics for Class 12 CBSE and all of them are extremely important from the examination point of view and complete revision notes for all the chapters is available on Vedantu app and website. Now, coming back to Chapter 2, Vedantu offers a comprehensive structure with revision notes and important questions.
6. Can I skip Chapter 2 in Grade 12 CBSE Macroeconomics?
All chapters are important when it comes to preparing for the examination. Skipping any chapter may lead to unnecessary loss of marks which could have been otherwise avoided if time management was stressed. However, Vedantu has notes prepared which are concise and easy to understand. These notes can help you grasp the concepts of the lesson in a shorter span of time. You can revisit these notes at your convenience. You can access the notes to Chapter 2 of Grade 12 Macroeconomics free of cost.
7. What is Economics?
Economics can be defined as a subject which deals with the study of production, consumption and transfer of wealth. It is an important subject as it deals with the study of the economic well being of the country. To know more, you can always visit Vedantu as it offers detailed explanations curated by expert teachers.