Category: Economics Class 12

Foreign Exchange Rate

Meaning of Foreign Exchange Rate Foreign exchange, for a Country A, refers to all the currencies, other than the local currency of Country A. Foreign

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Simple Economy

Definition of Economy Economy is a system which provides people, the means to work and earn a living. For example, Indian economy consists of all

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What is National Income?

National Income, is a measure of the value of production activity of a country. This definition raises further questions : – What defines a country

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Stock and Flow

Meaning of concept Stock: A stock is the quanity which is measured at a particular point of time e.g Bank balance as on 31st March

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Different Type of Goods

Let’s have a look at different type of goods i.e, Final Goods and Intermediate Goods that we come across in Economics: Different Type of Goods

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Monopoly in Economics

“Monopoly” is a  market structure which is formed and differentiated from other markets on the basis of number of sellers, substitute of products, procedure for

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Producer’s Equilibrium

Equilibrium refers to a state of rest when no change is required. Like a consumer, a producer also aims to maximize his satisfaction to attain

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What is Revenue?

Revenue is the amount of money that a producer receives for his commodity. It is very important for us to understand the concept of commodity

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