Important Questions Class 12 Macro Economics

Important Questions Class 12 Macroeconomics

For students, Class 12 is crucial since it is that significant grade that defines the course of their future. Students must work hard to do well during their board exams, which will provide them with numerous benefits in terms of getting into a good college. 

We will take a look at the important questions in class 12 Macro Economics in this article, which will assist students in comprehending the subject in a better way. Students will learn the fundamentals of Macroeconomics and distinguish them from Microeconomics. Students will have a detailed understanding of the important questions that are likely to appear in examinations.

Students who find the subject difficult to comprehend can study these important questions in class 12 Macroeconomics to understand the topic better and know which areas to concentrate on.

All of the important questions in class 12 Macroeconomics are created under the guidelines of the NCERT books. Students require good preparation for competitive examinations. Thus, we cover all of the important questions students need to prepare for class 12 and competitive examinations.

Apart from class 12 Macro Economics important questions, students can leverage other study materials on the Extramarks website. All materials such as NCERT books solution, CBSE revision notes, CBSE sample papers, CBSE previous year question papers and many more are available to the students for free. Our solutions have used exclusive content to make it easy and grasping for the students. 

What Chapters Are Covered in Important Questions Class 12 Macroeconomics?

In total, there are six chapters in the NCERT class 12 Macroeconomics. The syllabus appears intimidating to some students if they do not start their preparation from the start of the curriculum. 

Below are the chapters from the NCERT textbook of Class 12 Macroeconomics:

• Introduction to Macroeconomics
• National Income Accounting
• Money and Banking
• Determination of Income and Employment
• Government Budget and the Economy
• Open-Economy Macroeconomics

To stay organised, students should go over all of the chapters first, then establish a study schedule that includes time for daily practice. This is where chapter-by-chapter important Questions Class 12 Macroeconomics answers come in handy. Extramarks specialists have produced 12th Macro Economics important questions sections for each chapter based on the CBSE Class 12 Macro Economics syllabus. This section has various question types, ranging from objective type questions (fill in the blanks, true or false), multiple-choice questions (MCQs), and subjective type questions such as respond in short and answer in-depth, among others. As a result, this portion of important questions will help you study key ideas and assess yourself in preparation for your examinations.

Important Questions Class 12 Macroeconomics- Important notes

To get a more deep understanding of the concepts, students need to get a hold of various topics of this subject. In this section, we’ll look at what each chapter in macroeconomics for class 12 has to offer.

Introduction to Macroeconomics

This is the first chapter on macroeconomics, and it begins with a discussion of the differences between microeconomics and macroeconomics. This is important for students to get a hold of since the two aspects of economics are entirely different. The many characteristics of a capitalist economy, as well as the numerous economic agents, are discussed in this chapter. Students will also study private goods, consumer goods, and replacement products, as well as the many things created in the economy.

National Income Accounting

This is one of the major chapters in macroeconomics since students may get the highest marks by simply solving the equations. Non Market and market activities will be discussed with the students.   Students will also study the national disposable income and the actual flow of money. To derive national income, numerous domestic elements must be considered. In addition, students will learn how to calculate actual GNP. 

Money and Banking

This chapter explains how paper money was created, as well as the history of transactions in the Barter System. Students will study all of them so that they may comprehend how money and banks are important to the economy. Students will study bank credit creation and the money supply in this unit. Commercial banks and other types of banks in the country provide diverse tasks. The difference between a bank’s interest rate and a lender’s interest rate. Students will also study the resort’s lender as well as the Lending Reserve Ratio. Students will also study about high-powered money and who is in charge of the country’s money supply.

Determination of Income and Employment

This unit will teach students what a two-sector economy is and what it contributes. The Average Propensity to Save and the Average Propensity to Consume will be taught to students. The concept of income level equilibrium and how it is determined. Students will also study how a person’s average consumption propensity can be more than one. Two types of investment: Ex-ante and ex-post investment. Students will also study if APS may have a negative value. They will also learn how to use a map to illustrate an inflationary gap.

Government Budget and the Economy

Students will discover what a direct tax is and who is liable for it. Numerous policies are employed to reduce income disparities. Students will also discover who is in charge of enforcing financial policies. The distinction between capital inflows and capital outflows. The forms of taxes that students will learn about include direct and indirect taxes. Students will study the numerous economic difficulties that exist and how the government budget attempted to address them.

Open-Economy Macroeconomics

We’ll look at how the country changed after 1991 in this chapter. The concept of the balance of payments will be introduced to students. Source of supply for a foreign exchange and its difference from a fixed exchange rate. They will also explore foreign exchange markets, which are marketplaces where international currencies are exchanged for one another. Students will understand how foreign exchange demand grows or declines in response to price changes. In the balance of payments, there is a distinction between accommodating and autonomous transactions. The accounting of the Balance of Payments and how it might go into a deficit will also be covered in-depth for students.

Important Questions Class 12 Macro Economics – Weightage

Based on the past years’ question papers, below is the chapter-wise marks distribution of important questions class 12 Macroeconomics:

Overview of CBSE Class 12 Economics Syllabus 2022 for Term 1

Overview of CBSE Class 12 Economics Syllabus 2022 for Term 2

Important Questions Class 12 Macro Economics – Chapter-Wise Questions

Macroeconomics for class 12 is a broad subject because it is a subset of economics that looks at things much grander than microeconomics. Students will learn how to compute the country’s national income and the GDP. Furthermore, students will also study the cyclical flow of revenue and its contribution to the economy’s smooth operation—banking and its numerous activities, including the country’s various banks and their roles. 

In addition to the above, students will also learn about types of employment and how income is calculated. Class 12 students will also study the budget and its multiple allocations in various economic sectors such as agriculture, industry, tourism, etc. Students will also discover how India’s liberalisation efforts resulted in an open economy that benefitted the country greatly through foreign direct investment and revenue from diverse imports and exports. It is recommended that the students learn and revise continuously so that there is no scope for making any mistakes in these questions. 

Extramarks gives access to all the Macro Economics class 12 important questions prepared by professional Economic specialists. Students may click on the links below for chapter wise questions and solutions below to check the CBSE class 12 important questions Macro Economics as per CBSE syllabus:

Important questions class 12 Macroeconomics help the students in their final revision. Explore other sections of our Extramarks website and get exclusive updates and information about forthcoming examinations.

Important Questions Class 12 Macroeconomics – Types of Questions

According to CBSE‘s recent guidelines, the current exam paper format for Class 12 Macro Economics is as follows:

• It will be a subjective examination consisting of 13 questions
• The theory examination will consist of three sections
• There will be five questions of two marks each
• Five questions of three marks each
• And, three questions of five marks each

The Benefit Of Solving Important Questions Class 12 Macroeconomics

Macroeconomics can be a challenging subject to grasp on your own. Students may use the suitable guidance material, such as the ones provided in Extramarks, to their advantage and achieve the most significant possible results. The central part of this subject is theory; students just need to grasp the various ideas and not memorise anything like they would in science. 

The following are some of the benefits of solving important questions class 12 Macroeconomics: 

• This text can help students better use their time, enhance their confidence after constant practice, and schedule their preparation correctly.
• Students can use the important questions and practise them to excel in their exams.
• It provides students with a framework to study for their impending examinations.
• This is an essential topic for high school students and plays a critical part in higher education.
• These questions have been cross-checked and updated following the most recent CBSE norms and rules, so students don’t have to worry about their relevance.