In the beginning, class 12 economics is an interesting subject. Primarily students get basic knowledge about economics. However, for students, NCERT class 12 economic book is very useful. This book provides detail about economics in an effortless way. Moreover, students will understand the straightforward language of the NCERT book.
Besides this, the economic teachers also refer students to use the NCERT book because this follows the updated syllabus of CBSE. However, class 12 economics is divided into two parts, one is macroeconomics and another is microeconomics. Whenever a student follows NCERT class 12 economics book, he/she study the fundamentals of economics efficiently. NCERT books help for board exams and help for competitive exams.
Here you get the class 12 economic book PDF link below.
Download CBSE class 12 PDF free with the download link
Moreover, you will get the PDF link of both macroeconomics and microeconomics below.
| Class | 12th |
| Board | CBSE |
| Book | NCERT |
| Subject | Economics |
| Medium | English/Hindi |
| Part-1 of Economics | Macroeconomics |
| Part-2 of Economics | Microeconomics |
Explaining every chapter of NCERT Macroeconomics and Microeconomics
Although NCERT class 12 economics book provides detailed knowledge about economics. Through this book, you get knowledge about fundamental concepts and national and international economics. However, your economic knowledge develops through this book, and you can score a good number in the CBSE board exam. Let’s learn chapter-wise concepts of NCERT class 12 economics book.
NCERT Macroeconomics
Chapter 1 – Introduction to Macroeconomics
However, the introduction part of macroeconomics delivers the knowledge of the whole economy. In this economics chapter, you can evaluate the economic factors of a nation or system. Moreover, the introductory part of NCERT class 12 economics helps you to know the financial concept. Besides this, it also contains aggregate investment, aggregate employment, national income, aggregate consumption, general price level, etc. In this chapter, you get the knowledge of various economic factors, which helps you in the following chapters.
Chapter 2 – National Income Accounting
After that, the next chapter of NCERT macroeconomics is national income accounting. However, this chapter will provide brief knowledge about the nation’s economic growth. Except this, you also learn gross national product (GNP), gross domestic product (GDP), gross national income (GNI), etc. All these terms are various quantitative terms of economics which explain in this chapter.
Chapter 3 – Money and Banking
Further in the chapter is money and banking. In this chapter of macroeconomics, you learn the demand and supply of money. However, this chapter provides vast knowledge of the measurement of money in currency. And also you know the role of a bank in an economy. If you use NCERT 12th economic book PDF, you get the knowledge of financial institutions and the national economic system relation.
Chapter 4 – Determination of Income and Employment
Moreover, this chapter provides you with information about demand and various components. Besides this, you learn the concept of calculating consumptions, investments with the help of formulas. However, the NCERT economics book helps you understand the critical concept of this chapter in a very effective way.
Chapter 5 – Government Budget and Economy
Next, in chapter 5, you can learn the concept of government budget and economy. However, this chapter will help to evaluate the expenditure of the government throughout a financial year. And also learn what the effects of budget are in our national economy? Although you also know the different types of budgets such as the deficit, surplus, and balance.
Chapter 6 – Open-Economy Macroeconomics
Generally, in this chapter of economics, you can learn the trading system such as the balance of payments and exchange rate system. And also you can understand its benefits and drawbacks. This chapter gives a vast knowledge about overseas trade.
NCERT Microeconomics
Chapter 1 – Introduction to Microeconomics
The first chapter of microeconomics gives you conceptual knowledge about the financial model. Moreover, you can also learn a manager’s behaviour and the decision-making procedure. Except this, you can learn the economy of company, household, and individual in this chapter.
Chapter 2 – Theory of Consumer Behavior
Mostly this chapter elaborately gives you knowledge about the consumers’ behaviour. However, this provides information about the purchasing decision of a product and its substitute. Students also get the chance to learn about individual preferences, budget constraints, and the income effect of consumers.
Chapter 3 – Products & Costs
Next, in this chapter, students learn about various costs of production. Additionally, learn the total product, the total value of a product, cost function, implicit cost, etc., and also learn about the average cost, total fixed price, and total variable cost of a product. This chapter briefly gives you knowledge about various laws of products.
Chapter 4 – Theory of the Firm Under Perfect Competition
Moreover, in this chapter, students learn different terminologies such as revenues, profit, break-even point, supply curve, the elasticity of supply, etc. this chapter also helps to learn about the competition of the market and its strategy. Although through this, you can determine the firm’s economic condition. Besides this, you can learn the demand-supply graph at a uniform price.
Chapter 5 – Market Equilibrium
Especially this chapter delivers you the knowledge of market equilibrium. In this chapter, you learn the definition of excess demand, equilibrium quantity, equilibrium price, price floor, price ceiling, and many others. Moreover, this chapter gives you a clear concept of market strategy.
Chapter 6 – Non-competitive Markets
This chapter teaches students about the non-competitive market system. And also know about the monopoly market system of a single firm. From this chapter, you get vast knowledge about product cost in the non-competitive market as well.
Why learn economics from NCERT books?
Usually, most of the CBSE board schools follow the NCERT books. However, this book delivers complete knowledge about a chapter in an effective manner. Besides this, the NCERT class 12 economics book price is very low compared to others. Here you know the benefits of NCERT books below.
- This book gives deep knowledge about each chapter in a straightforward and understanding language.
- Moreover, the methodologies used in this book are very different from other books.
- You get a practice session at the end of each chapter that develops your knowledge.
- This book also helps to improve the communication skill of students.
- You can get this book at a very low price.
Why to choose Vidya Setu for learning?
Vidya setu is a perfect place for CBSE class 12. Here you get many benefits which improve your knowledge. Moreover, vidya setu always follows the NCERT books. Many institutes suggest other class 12 economics book names, but vidya setu knows the importance of NCERT books. This institute’s qualified teachers help you score more in the CBSE board exam. You will get regular doubt clearing and revision classes, except this here. As a result, you secure a 90% above mark in each subject.
Final Say
In the end, NCERT class, 12 economics book helps you to improve your knowledge in different fields. You can learn critical terminologies in a straightforward language. Visit Vidya Setu to score good marks in economics by taking the advantage of online classes and other resources.
FAQs
1. Why NCERT economic book is suitable for class 12 students?
This book provides complete knowledge about each chapter. Students can easily understand the wording and the terminology of NCERT class 12 economics book.
2. How can I cover all the chapters of economics?
Moreover, to complete all the economics chapters, you first have to prepare a perfect timetable. In this timetable, you provide equal time to cover all the chapters.
3. What are the essential chapters of economics?
However, all the economics chapters are essential. But chapters 3 and 4 of macroeconomics and chapter 4, 5, and 6 of microeconomics are critical.
4. Is NCERT class 12 economic book 2022-23 helping you in the board exam?
Yes, the NCERT class 12 economic books 2022-23 are prepared as per the updated Class 12 economics syllabus of CBSE. You can follow this book to score good marks.
