In economics, an economy is a large inter related system of production and consumption activities that help in determining the allocation of scarce resources. This is also known as an economic system. What is an Economy? Economy is a Greek word …
Economics Class 12
What is Positive Economics?
Positive Economics is that perspective of economics which studies the facts of life. It deals with things as they are. It does not focus on how things should be instead of how it should be or trying to alter it. Positive economics is a contrasting …
What is normative economics?
Normative economics is that part or perspective of economics which gives value judgement or normative judgments about the outcome of the economy or what the goals of public policy ought to be. It tells us 'what ought to be'. What is Normative …
What is Macroeconomics?
The study of economics is divided into two major sub fields - microeconomics and macroeconomics. Macroeconomics is the branch of economics which deals with the overall performance of the economy as a whole. What is Macroeconomics? Microeconomics is …
What is Microeconomics?
Economics is a social science which studies the way a society chooses to use its limited resources, which have alternate uses, to produce goods and services and to distribute them among different groups of people. The study of economics can be …
What is Economics?
The word Economics comes from two Greek words - 'eco' meaning home, and 'nomos' meaning accounts. Over a period of time there have been many definitions of Economics. Initially economics was known as the science of wealth. It later came to be known …
Economics class 12
The syllabus of Economics Class 12 comprises of the following chapters. We have prepared various notes, relevant for the student of Economics Class 12, who may be studying in CBSE, ISC or as per the NCERT syllabus. Each of these notes have been given …
Barter System – Economics Class 12
Barter is the exchange of products and services for other products and services. Barter system in economics, people do not use money for transactions. ‘Barter’ means to exchange goods and services for other products and services. Alternatively, …
Money Supply
The money supply refers to the total sum of money available to the public in the economy at a point of time. It is a stock concept in sharp contrast to the national income which is a flow representing the value of goods and services produced per unit …
Functions of Money
All the difficulties of barter were overcome with the introduction of money. Money is defined as anything that is generally acceptable as a means of exchange and that at the same time acts as a measure and as a store of value. An important point …
Economic Meaning in Hindi
अर्थशास्त्र का अर्थ (Economic Meaning in Hindi) अर्थशास्त्र एक सामाजिक विज्ञान है जो अध्ययन करता है जिस तरह से समाज अपने सीमित संसाधनों का उपयोग करना चुनता है, जिसमें वैकल्पिक उपयोग होते हैं, माल और सेवाओं का उत्पादन करने के लिए लोगों के …
Multiple Choice Questions For Economics with Answers – Tax System
Multiple Choice Questions For Economics with Answers, which are covered in this chapter, relate to the topic, Tax System. Multiple Choice Questions For Economics with Answers Test contains 10 questions. Answers to Multiple Choice Questions For …
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