Revision Notes for CBSE Class 12 Micro Economics - Free PDF Download
FAQs on CBSE Class 12 Micro Economics Revision Notes
1. How are Class 12 Microeconomics Notes Helpful in Exam Preparation?
Class 12 Microeconomics Notes offered by Vedantu are the best study material to go through all the important topics covered in Class 12 Microeconomics syllabus. Revising the entire syllabus through the textbook is quite time consuming and tiresome. Hence, Vedantu offers short revision notes for Class 12 Microeconomics that you can easily refer to at the time of revision. With the help of these notes, one can quickly recall all the concepts covered in the syllabus. These notes are formulated by Vedantu’s subject matter expert as per the NCERT guidelines. Hence, these notes are quite helpful in scoring greater marks in the subject.
2. From Where we can get Short Class 12 Microeconomics Notes Written by Subject Experts?
Students can get chapter-wise Class 12 Microeconomics Notes on Vedantu’s official website. Vedantu is an excellent online platform where you can find professional and experienced teachers. They are offering students to download chapter-wise Class 12 Microeconomics notes PDF free. Students can easily have access to these materials to enhance their understanding about the concepts of various topics covered in the syllabus. The teachers are always available to clear the students' doubts. The teachers are very friendly and they are experienced to understand the doubts of the students and guide them accordingly. Vedantu online academic is a very user-friendly platform and students can enjoy the benefits from anywhere in the world at their convenient time.
3. What is Microeconomics as per Class 12 Microeconomics?
Microeconomics is the branch of economics concerned with the small-scale economic activity of a person or a business. In Class 12th, students will learn about the three main questions: What to produce? How to produce? When to produce? There are six chapters that focus on different topics for in-depth knowledge of the subject. You can avail Notes for individual chapters curated by best subject teachers from the official website or application of Vedantu for free. These notes are prepared as per the latest guidelines by CBSE, exam patterns and marking scheme.
4. How many chapters are there in Microeconomics of Class 12?
Microeconomics of Class 12 has a total of six chapters. They are as follows:
Introduction to Microeconomics
Theory of Consumer Behavior
Production and Costs
Theory of a firm under Perfect Competition
Market Equilibrium
Non-competitive Markets.
Starting from the basics and importance of the subject to the requirements of a production house, cost curve, knowing the consumer, and different types of markets, you will learn about everything intensively in these chapters.
5. Why is it important to study Macroeconomics?
Macroeconomics concerns the estimation of prices of individual products and factors. Also the allocation of resources to their most important use with a view to maximizing the total output of an economy. It is crucial to study microeconomics in Class 12th to understand and estimate three questions related to production: what, how, and when. This subject also gives you an insight into everything that is required to step into the market as a producer.
6. What is market equilibrium according to Microeconomics of Class 12?
Market equilibrium is a stage of balance where the market demand and supply for a commodity is equal. It necessitates a balance of supply and demand, as well as the absence of external influences, in order for the values of economic variables to remain constant. This is an unachievable state because there are various external factors affecting the market at all times. On the demand and supply graph, it is denoted by the intersection of both curves.
7. What do you understand about Production according to Microeconomics of Class 12?
Production is the process of converting raw materials into marketable goods. Bringing together diverse inputs to create a valuable product and service is part of the process. For example, a tea producer gathers the leaves from the gardens and processes them into a consumable tea packet. Likewise, anything that is converted from raw materials into something we consume is production. You can learn about the two types of production and factors that influence production in Notes for Microeconomics Class 12th. The notes are free of cost and also available on the Vedantu Mobile app.