Unit determination of income and employment class 12th cbse
Understand the Problem
The question is asking for information related to unit determination of income and employment as per the CBSE curriculum for class 12th. This typically involves concepts related to economics, specifically how income levels and employment rates are established in an economy.
Answer
The determination of income and employment involves aggregate demand and supply, central to Keynesian theory.
The final answer is that the determination of income and employment is primarily based on the relationship between aggregate demand (AD) and aggregate supply (AS), as discussed in Chapter 4 of CBSE Class 12 Macro Economics. This is grounded in Keynesian theory.
Answer for screen readers
The final answer is that the determination of income and employment is primarily based on the relationship between aggregate demand (AD) and aggregate supply (AS), as discussed in Chapter 4 of CBSE Class 12 Macro Economics. This is grounded in Keynesian theory.
More Information
In the determination of income and employment, the interaction between aggregate demand and aggregate supply plays a crucial role, reflecting Keynesian economic theory. This approach considers the economy's output is determined by total spending in the economy.
Tips
Students often confuse aggregate demand and aggregate supply with individual demand and supply. Remember, these concepts apply to the entire economy, not just individual markets.
Sources
- PDF Determination of Income and Employment - NCERT - ncert.nic.in
- Determination of Income and Employment Class 12 Notes - leverageedu.com
- Economy Class 12: Determination of Income and Employment - unacademy.com
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