12th Class Economics Notes
12th Class Economics Notes is a complete guide for 12th class students preparing for their examinations. Hopefully, these notes are equally useful for students of almost all boards.
Following are some topics discussed in the notes.
- INTRODUCTORY MICROECONOMICS
- NATIONAL INCOME AND RELATED AGGREGATES
- MONEY AND BANKING
- CONSUMER EQUILIBRIUM AND DEMAND
- PRODUCER BEHAVIOUR AND SUPPLY
- DETERMINATION OF INCOME AND EMPLOYMENT
- GOVERNMENT BUDGET AND THE ECONOMY
- BALANCE OF PAYMENTS AND FOREIGN EXCHANGE RATE
Some glimpse of the notes:
NATIONAL INCOME AND RELATED AGGREGATES:
KEY CONCEPTS
• Macro Economics: Its meaning
• Consumption goods, capital goods, final goods, intermediate goods, stock and flow,
gross investment and depreciation.
Macroeconomics is the study of aggregate economic variables of an
economy.
Consumption goods:- Are those which consumers buy as final or ultimate goods to
satisfy their wants.
For example, Durable goods car, television, radio etc.
Non-durable goods and services. For example, fruit, oil, milk, vegetable etc.
Semi durable goods, for example, crockery etc.
We use capital goods which help in the process.
of production of other goods and services. E.g.: plant, machinery etc.
Final goods: Are those goods, which are used either for final consumption or for investment.
It includes final consumer goods and final production goods. Reselling is not valid.
So, no value is added to these goods. Their value is included in the national income.
Intermediate goods are those goods, which are used either for resale or
for further production. For example, a tea shop will use milk for selling making and selling tea.
In addition to that, if you want to read the full notes online, please refer to the section below.
12th Economics NotesAnd, we have the notes in pdf for offline study. Please click on the “Download PDF” button for the pdf to download for free.