NCERT Books Class 12 Micro Economics

NCERT Books for Class 12 Microeconomics

Class 12 is the most important stage in a student’s school life. In this class, students prepare to give their final board examinations. Many students across India appear for their class 12 board examinations every year. Class 12 is considered to be the start of a professional adventure in a student’s career. Every concept learned from each subject decides the path the students will choose in their college studies. Microeconomics is a vital subject that can shape the career of every student. In addition to guiding students with utmost precision for years, the Microeconomics NCERT book for class 12 has established itself as a go-to source for enlightening students with all the knowledge and wisdom they need to excel in their respective examinations. All the chapters in the NCERT book for class 12 microeconomics have been arranged in a serial and systematic manner to instil confidence and excitement in solving the problems related to the subject. Hence, having the microeconomics book is essential and mandatory for every student involving themselves with the subject in class 12. 

Extramarks NCERT Books for Microeconomics Class 12 

The National Council of Educational Research and Training, also known as NCERT, is in charge of structuring and creating the entire course curriculum and producing textbooks like NCERT class 12 microeconomics. The NCERT-created syllabus is followed for the CBSE examinations. Teachers advise reading books like Introduction to Microeconomics for class 12 NCERT since the concepts are presented simply. Additionally, the NCERT syllabus is very helpful because it enables a thorough study of the complete CBSE curriculum. As can be observed in NCERT class 123 microeconomics, for instance, there is sufficient information to spark a student’s passion for the subject matter and aid them in examination preparations. The NCERT economics class 12 microeconomics PDF download has been made free on this website for students to download without any hassle.

NCERT Solutions for Class 12 Micro Economics

One of a student’s most crucial academic years is class 12. It is crucial for students to do well in class 12 because their ability to attend college depends on it. When it comes to elective topics for class 12, NCERT offers a few choices. Economics is one of those subjects. Macroeconomics and Microeconomics are the sub-parts that make up this subject. Microeconomics is an area under economics that is concerned with the detailed examination of economics at the level of small businesses, homes and people. This branch is an expert in talking about distributing funds and resources. In this subject, for instance, students will come across various topics such as how a business can maximise productivity while reducing costs.

NCERT Books for Class 12 

Students preparing for the CBSE board examinations can benefit greatly from the NCERT class 12 textbooks PDF. Students can readily learn the fundamental ideas of each subject, thanks to the extensive guidance provided in the NCERT books recommended by the board. The NCERT books for class 12 provide comprehensive explanations of every subject, enabling students to master their courses and excel in the board examinations.

NCERT Solutions for Class 12

The twelfth grade is one of the most crucial in a student’s academic career. It not only determines whether you will pursue higher education, but it also moulds you into a better person. When looking for the best study material to use to be ready for tests, students frequently experience great stress. To make sure that students have a less stressful and more fun learning experience, NCERT solutions for class 12 are carefully created after rigorous research by specialists. For all courses, there are thorough extra question banks accessible along with all the solutions in PDF to aid students in achieving their full potential. The subject-wise solutions in the PDF format for every subject of class 12 can be found below. With a great compilation of all the CBSE extra questions and CBSE important questions, the solutions for class 12 subjects can enhance your learning experience.

With all the other subjects in class 12, mathematics and economics play a huge role in shaping your career. Moreover, the formulas in mathematics can also be found in the NCERT solutions. Learning and practising mathematics by applying those formulas has helped many students in polishing their skills for optimal results. 

NCERT Books for CBSE Class 12 Micro Economics 

Economics is an important subject for students of class 12 who are preparing to appear in their respective board examinations. Students are always recommended to follow the CBSE syllabus in order to cope with the requirements and prepare accordingly. When talking about the branch of economics, the NCERT economics class 12 microeconomics book PDF is one of the most important elements required by students in their academic year. Well, Extramarks has always worked on the betterment and ease of accessibility for students regarding any study materials, and their work in microeconomics is no different. Therefore, students are now encouraged to scroll through the website and download the PDF of the class 12 microeconomics book without bearing any cost. 

Economics: Microeconomics

The two main approaches to economic analysis are microeconomics and macroeconomics. Both of these approaches deal with how scarce resources are distributed among many people and also look after how supply and demand for particular resources interact. Leaving macroeconomics aside, microeconomics deals with the study of how organisations and individuals distribute limited resources. Microeconomics is basically a type of subject that is somewhat like social science. The subject examines how different scenarios, conditions and behaviours impact the distribution of resources and also sheds light on its administration. The subject also teaches why and how different things have varying values, how people and businesses successfully produce and exchange goods and services while making a profit, and how individuals and groups of people may work together and coordinate in an effective manner. Micro economists are curious about how a tax will affect a market’s supply or how it will influence a firm’s choice-making.

Introductory Microeconomics NCERT

The class 12 chapters of microeconomics focus on providing students with a basic understanding of pertinent economic concerns. Well, in order to assist a student with brilliant concepts that match up to the level of class 12, a total of six chapters make up the NCERT Microeconomics Class 12 course curriculum. The divisions of the chapters along with their names are given below:

  • Chapter 1 – Introduction to Microeconomics
  • Chapter 2 – Theory of Consumer Behaviour
  • Chapter 3 – Production and Costs
  • Chapter 4 – The Theory of Firm under Perfect Competition
  • Chapter 5 – Market Equilibrium
  • Chapter 6 – Non-Competitive Markets

Additionally, the syllabus for class 12 microeconomics explains the unifying theme that unites these chapters. To understand all the important and main concepts behind it, students are recommended to understand the subject matter of each chapter. Some basic information on all the chapters can be found below.

  • Chapter 1: Introduction to Microeconomics – The first chapter of class 12 Microeconomics begins with a general overview of the field and what it comprises. It highlights the factors influencing consumer behaviour and interactions with businesses. Individual limitations that eventually influence customer behaviour are used to explain the principles. The lack of resources and the difficulty in making decisions are considered the economy’s main problems. The chapter addresses how economic activity is organised and then discusses both the market economy and the centrally planned economy. Additionally, it clarifies the key distinctions between microeconomics and macroeconomics.
  • Chapter 2: Theory of Consumer Behaviour – Utility, indifference curves and consumer budget are all the ideas that are covered in chapter 2 of the Microeconomics textbook, which is devoted to the Theory of Consumer Behaviour. The chapter also discusses how the Law of Diminishing Marginal Rate of Substitution relates to these ideas. A consumer is considered to be a logical person who has clearly defined preferences in this context. Students can earn the chance of scoring well by maximising the emphasis on understanding the key elements in this chapter. Students are also advised to complete the assignment provided at the end of this chapter to learn more about the topics discussed in it.
  • Chapter 3: Production and Costs – Microeconomics is centred on the fact that the products that producers or businesses engage in the production process, needs a variety of inputs, including raw materials, land, machinery, labour and capital, among others. The link between the inputs needed and the output generated by a business is related to the production method of a business. The levels of output for the various capital and labour variables are represented numerically by the production function. The Law of Diminishing Marginal Product and the Law of Variable Proportions, together with numerous Returns to Scale is explained in chapter 3 of the NCERT textbook for class 12 microeconomics. 
  • Chapter 4: The Theory of Firm under Perfect Competition – The Theory of Firm under Perfect Competition is covered in chapter 4 of the class 12 microeconomics NCERT textbook. First, ideal competition is addressed, where each firm makes and sells the same type of product, and there are a lot of customers and sellers in the market. Additionally, trades are free to enter and exit the market. These qualities of perfect competition serve as the foundation for the ideas that follow. It addresses profit maximisation, revenue, and a firm’s supply chain. A firm’s supply chain in both short and long-terms visually depicted. The development of technology and the cost of inputs are the two factors that affect a firm’s supply chain.
  • Chapter 5: Market Equilibrium – The concept of market equilibrium is covered in the NCERT economics textbook of class 12 microeconomics. The book covers all the other concepts and ideas related to excess demand and supply. Equilibrium is basically defined as a state in which consumer preferences and the plans of the market enterprises are completely aligned. The government’s regulation of prices for specific commodities and services is an example of how supply-demand analysis is used. Certain necessities frequently have price ceilings imposed on them, and these can be set below the value decided by the market.
  • Chapter 6: Non-Competitive Markets – The last chapter of the microeconomics class 12 NCERT covers non-competitive markets where businesses have the ability to directly or indirectly affect prices. Perfect competition does not have such a feature. Monopolistic competition is an example of a market with only one vendor that is not perfectly competitive. Furthermore, a market for commodities that cannot be substituted for may have a monopoly structure. The quantity offered by the monopoly determines its market price.

Advice from Extramarks Experts to Excel in CBSE Class 12 Microeconomics

Advice from the Extramarks website can be full of important tips and tricks to excel in your respective examinations. They are as important as the pieces of advice and recommendations from respective subject teachers. So, here are a few that you must follow:

  1. Try developing a passion for the subject – If you are not passionate enough about the subject you are reading, it will always feel like a duty, regardless of how hard you work on it. The more you become interested in the subject, the less anxious you will feel during your exam preparation. Hence, try to love the subject as if it is a way to perform at your optimal best for your future studies.
  2. Try to respect your subject – The majority of students tend to focus on studying economics for the last two to three months, as they spend the majority of the year solving arithmetic and accounting problems. Here, you should try to respect each course because it is distinct and affects your total final grade. Even only a few minutes each day for four to five days a week can be helpful for your preparation.
  3. Conceptual understanding is necessary – If you only commit the theory to memory, you will not be able to achieve good results. Prior to studying for the exam, thoroughly understand the concepts through classes or independent self-study. Keep in mind that hard effort must come before brilliant work in order for it to be effective.
  4. Taking Notes – Most students seem to comprehend class material, then take notes and revise them. You will gain a deeper understanding of your topics, as well as improve your performance. In addition, the CBSE revision notes can also help you extensively.
  5. Practice & Test Yourself – At the end of the day, a year-long study is also not enough if you have not conducted real tests on yourself. Similarly, you must focus on the regions of the chapters in which you are weak. Be it the pre-boards, unit tests, or even the projects and assignments, you must always take these seriously. Try to plan your study timetable in a way so that you can test yourself on a weekly basis.
  6. Follow Sample Papers – Apart from following the regular textbook prescribed by the board, it is also important to follow the CBSE sample papers and CBSE previous year question papers as well.

Why are NCERT Books Favoured by Students and Teachers?

Despite the fact that NCERT books are the required textbooks for CBSE, they are preferred by both students and teachers due to their content and approach to the subject. Here are a few characteristics that distinguish NCERT books from other texts:

  1. Greater Clarification of Basic Concepts – NCERT books place more emphasis on a subject’s foundational topics. It makes sure that students comprehend the fundamentals better, which will eventually help them get ready for more difficult topics. The syllabus in these books also includes all of the topics from which exam questions frequently originate.
  2. Simple Presentation – The presentational style of an NCERT textbook is simple because there are no unnecessary bells and whistles. When presented in such a straightforward manner, reading requires less interruption. Additionally, eye-catching illustrations assist in bringing the students’ focus to any crucial elements of the subject. Students learn topics more effectively when they can visualise those using diagrams and flowcharts.
  3. Problem-Solving Emphasis – All chapters in NCERT textbooks have questions for students to respond to based on the chapter’s content. It accomplishes two key goals. The students will gain a decent grasp of how questions about a certain topic may appear in examinations, as well as a better understanding of how well they have understood the subject.
  4. Encourages Self-Study – The content in an NCERT textbook is structured in a way that encourages students to think more deeply about the subject and perhaps go beyond what is only necessary for the examination. Clear explanations of topics aid in improving students’ comprehension.

For your ideal preparations, NCERT class 12 microeconomics books are hence essential. You can use these books to succeed in other competitive tests outside your upcoming board examinations.

NCERT Books for CBSE Class 12 Microeconomics PDF Download: Steps to download from Extramarks:

Having access to the NCERT books for class 12 microeconomics is important for students, as books can be the ideal guidance for them. Here are the steps that you can follow for downloading the NCERT books for Class 12 Microeconomics in PDF version:

  1. Students can access the Extramarks website with the help of a PC or laptop. They can also download the Extramarks app available on both Google Play Store and iTunes Store.
  2. If you choose to visit the website, after entering, you will see the option titled ‘Study Material’ on the top of the screen. Click on that option.
  3. After clicking on that option, select ‘CBSE’ from the long list of available boards on the website.
  4. After clicking ‘CBSE,’ choose your class. You will have to click on the last option from the list, which will be ‘Class – XII.’
  5. After clicking ‘Class – XII,’ you will have to scroll down a little to find the subjects. After scrolling a bit, you will find ‘Economics.’
  6. Click on ‘Economics.’ After that, you will be guided to choose the sub-subjects present in that option. Out of the two, choose ‘Micro Economics.’
  7. After choosing ‘Micro Economics,’ you can simply navigate yourself to the option of downloading the book.
  8. After you have found the option for downloading the class 12 microeconomics book, click on the ‘Download PDF’ option.
  9. After clicking, the process for the download will start immediately. If you are not signed in to the website, try signing in by using your email ID and password.
  10. Once the download is completed, you can access it from the source folder and start your preparation accordingly.