12th Economics Public Exam important question

1. Define Macro Economics.
2. Define the term ‘Inflation’.
3. What is meant by an ‘Economy’?
4. Classify the economies based on status of development.
5. What do you mean by Capitalism?
6. Define ‘Economic Model’.
7. ‘Circular Flow of Income’ – Define.
8. State the importance of Macro Economics.
9. Describe the different types of economic systems.
10. Outline the major merits of capitalism.
11. Indicate the demerits of socialism.
12. Enumerate the features of mixed economy.
13. Distinguish between Capitalism and Globalism.
14. Briefly explain the two sector circular flow model.
15. Discuss the scope of Macro Economics. (Any 5)
16. Illustrate the functioning of an economy based on its activities.
17. Compare the feature among Capitalism and socialism (Any 5)
18. Compare the feature among Capitalism, socialism and Mixedism. (Any 5)
19. Define National Income.
20. Write the formula for calculating GNP.
21. What is the difference between NNP and NDP?
22. Trace the relationship between GNP and NNP.
23. What do you mean by the term ‘Personal Income’?
24. Define GDP deflator.
25. Why is self consumption difficult in measuring national income?
26. Write a short note on per capita income.
27. Explain briefly NNP at factor cost.
28. Give short note on Expenditure method.
29. What is the solution to the problem of double counting in the estimation of national income?
30. Write briefly about national income and welfare.
31. List out the uses of national income.
32. Explain the importance of national income
33. Discuss the various methods of estimating the national income of a country
34. What are the difficulties involved in the measurement of national income?
35. Discuss the importance of social accounting in economic analysis
36. Define full employment.
37. What is the main feature of rural unemployment ?
38. Give short note on frictional unemployment.
39. Give reasons for labour retrenchment at present situation.
40. List out the assumptions of Say’s law.
41. What is effective demand ?
42. What are the components of aggregate supply ?
43. 28. Explain the following in short
    a) Seasonal unemployment
    b) Frictional unemployment
    c) Educated unemployment
44. According to classical theory of employment, how wage reduction solve the problem of unemployment diagrammatically. Explain.
45. Write short note on the implications of Say’s law
46. Explain Keynes’ theory in the form of flow chart.
47. What do you mean by aggregate demand ? Mention its components.
48. Explain about aggregate supply with the help of diagram.
49. Write any five differences between classism and Keynesianism. Write any 5
50. Describe the types of unemployment.
51. Critically explain Say’s law of market.
52. Narrate the equilibrium between ADF and ASF with diagram.
53. Explain the differences between classical theory and Keynes theory
54. What is consumption function?
55. What do you mean by propensity to consume?
56. Define average propensity to consume (APC).
57. Define marginal propensity to consume (MPC).
58. What do you mean by propensity to save?
59. Define average propensity to save (APS).
60. Define Marginal Propensity to Save (MPS).
61. Define Multiplier.
62. Define Accelerator
63. State the propositions of Keynes’s Psychological Law of Consumption
64. Explain Keynes psychological law of consumption function with diagram
65. What are the causes and effects of inflation on the economy?
66. Explain the role of Commercial Banks in economic development.
67. Elucidate the functions of Commercial Banks.
68. Describe the functions of Reserve Bank of India.
69. What are the objectives of Monetary Policy? Explain.
70. What is the main difference between Adam Smith and Ricardo with regard to the
    emergence of foreign trade?

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