important questions for class 12 economics

Important Questions for Class 12 Economics

Part A

1.Introduction

• Economics and its Types
• Central Problems and Solutions of an Economy, Production Possibility Curve and Opportunity Cost

2.Theory of Consumer Behaviour

• Utility, Total Utility, Marginal Utility and its Law
• Consumers Equilibrium Through Utility Approach
• Indifference Curve, Indifference Map and Properties of Indifference Curve
• Budget Set, Budget Line and Consumer Equilibrium through Indifference Curve Analysis or Ordinal Approach
• Concept of Demand, Factors Affecting Demand and Law of Demand
• Concept of Price Elasticity of Demand and its Determinants

3.Production and Costs

• Concept of Production Function
• Concept of Cost Function

4.Theory of Producers Behaviour and Supply

• Concept of Revenue
• Producers Equilibrium
• Concept of Supply and Elasticity of Supply

5.Forms of Market

6.Market Equilibrium

Part B

1.Introduction

• Basic Concepts of Economics
• Investment,Stock,Flows and Circular Flow of Income

2.National Income Accounting

• National Income and its Related Concepts
• Methods of Calculating National Income

3.Money and Banking

• Barter System and Money
• Commercial Banks and Central Bank

4.Income Determination

• Aggregate Demand and Supply and Their Components
• Short run Equilibrium Output
• Problems of Deficient and Excess Demand

5.Government  Budget and The Economy

• Concept and Components of Government Budget
• Budgetary Deficit and its Measures

6.Foreign Exchange Rate and Balance of Payments

• Foreign Exchange Rate
• Balance of Payments