Introduction to Economics
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Circular Flow of Income
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Frequently Asked Questions
Is the Class 12 Economics Online Test accessible through any place?
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How to take Online Mock Test For CBSE Class 12 Economics?
To take the mock test, candidates can follow the steps mentioned below.
The Economics subject of class 12th covers a diverse range of topics and also advanced information. Also, many of the concepts and questions are from class 11 Economics subject as well. Economics as a subject majorly concentrates on how businesses, households, governments, societies or individuals make choices about how, where, when to use the natural resources at their best.
The Economics of class 12th is an enhanced version of the class 11th Economics with added topics. Hence to clear the exam and score well, one must lay focus on the Class 12th Economics Mock Test as much as possible.
Toprankers.com is the one-stop destination when it comes to getting your hands on the Class 12th Economics Mock Test. The test series curated is highly customized as per the current exam pattern with detailed analysis. The questions range from easy to difficult, just as how it is in the real exam.
Here are some of the effective tips to keep in mind:
Make sure to read the question paper thoroughly, which includes the questions, rules, and regulations, etc. Give the first 10 minutes to read the question paper and then plan the strategy accordingly.
·Start with attempting easy questions first and then go for the difficult ones. Do not waste your time attempting tougher questions in the beginning, as you might lose marks for the questions you already know.
Keep the paper as neat and tidy as possible. The exam paper should be presentable and readable because the exam checkers do not get a lot of time to struggle with the paper and make sense.
·Lastly, give the last 10 minutes to thoroughly revisit and revise the entire answer sheet. Your carelessness can cause you a few marks that could affect your overall %. Properly check the paper once.
The Class 12th Economics Mock Test is Divided into Two Parts
Part A – Introductory Macroeconomics
Unit 1: National Income and Related Aggregates
· This unit covers the basic concepts of macroeconomics, capital goods, stocks and flows, depreciation, gross investment etc.
· Topics related to circular flow of income and the different methods of calculating the national income such as Expenditure method, Value Added method, Income method etc.
· Topics pertaining to the aggregates of the national income such as Gross National Product (GNP), Net Domestic Product (NDP), Net National Product (NNP) etc.
Unit 2: Money & Banking –
· Topics covering the concept of money, supply chain of money, currencies, demand deposits etc.
· Money creation system by the commercial banks
· Topics related to central banks, its core functions, bank of issue, banker’s bank etc.
Unit 3: Determination of Income & Employment –
· This unit covers topics related to aggregate demand, propensity to consume and spend, equilibrium, investment multipliers and mechanisms,
· Topics related to employment, excess or deficit demand, ways to correct the demand, changes in the government policy etc.
Unit 4: Government Budget & Economy -
· Topics related to the government budget, objective, components etc.
· Topics related to revenue – revenue receipts, capital receipts, revenue expenditure, revenue fiscal etc
Unit 5: Balance of Payments –
· Topics related to balance of payments account, components, foreign exchange rates, fixed and flexible exchange rates etc.
Part B – Indian Economic Development
Unit 6: Economic Reforms since 1991
· The unit covers basic concepts related to the brief intro of the economy of country, the Indian economic system and the goals of the five-year plan.
· The primary features, policies and problems associated with the Indian agriculture, industry and service sector.
· Economics reforms since 1991, the features of liberalization, globalization, privatization, demonetization concept, GST etc.
Unit 7: Current Challenges Faced by Indian Economy
· Poverty - Topics covering the state of poverty, the policies, critical assessment etc.
· Human Capital Formation – Role of HCF in the economy, people as a resource etc.
· Rural Development – key issues regarding credit and market, agriculture diversification etc.
· Infrastructure – Different case studies relating to infrastructure, policies.
· Sustainable Economic Development – Concepts related to economic development, global warming etc.
Unit 8: Development Experience of India
· Topics covering comparison with the neighboring countries, Indian & Pakistan, India & China, Issues related to economic growth, sectorial development.