Class 12 Economic 2 Chapter Quiz
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Questions and Answers

What is the primary focus of Class 12 Economic 2 Chapter?

  • International Economics
  • Development Economics
  • Microeconomics
  • Macroeconomics (correct)

Which of the following is a key topic covered in Class 12 Economic 2 Chapter?

  • Consumer Equilibrium
  • Perfect Competition
  • Price Elasticity of Demand
  • Inflation (correct)

What is the main purpose of studying Class 12 Economic 2 Chapter?

  • Exploring global trade patterns
  • Understanding national economic issues (correct)
  • Assessing market structures
  • Analyzing individual consumer behavior

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Flashcards

Macroeconomics

The study of the overall economy, including national income, inflation, and unemployment.

Inflation

A sustained increase in the general price level of goods and services in an economy.

Microeconomics

The branch of economics that focuses on the behavior of individuals, households, and firms in making decisions about the allocation of scarce resources.

Marketing

The process of planning, pricing, promoting, and distributing goods and services to satisfy customer needs and wants.

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Agricultural land

Land suitable for agriculture, including fertile soil, water resources, and favorable climate conditions.

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Small and Medium Enterprises (SMEs)

Businesses that are smaller in size and scale compared to large corporations.

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