Tamil Nadu Board of Secondary EducationHSC Arts Class 12th
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Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 1 - Introduction to Macro Economics [Latest edition]

Chapters

Class 12th Economics Answers Guide - Shaalaa.com
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Chapter 1: Introduction to Macro Economics

Model Questions - Part AModel Questions - Part BModel Questions - Part CModel Questions - Part D
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Model Questions - Part A [Pages 15 - 16]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 1 Introduction to Macro EconomicsModel Questions - Part A [Pages 15 - 16]

Multiple Choice Questions

Model Questions - Part A | Q 1. | Page 15

The branches of the subject Economics are ______.

  • Wealth and welfare

  • production and consumption

  • Demand and supply

  • micro and macro

Model Questions - Part A | Q 2. | Page 15

Who coined the word ‘Macro’?

  • Adam Smith

  • J M Keynes

  • Ragnar Frisch

  • Karl Marx

Model Questions - Part A | Q 3. | Page 15

Who is regarded as Father of Modern Macro Economics?

  • Adam Smith

  • J M Keynes

  • Ragnar Frisch

  • Karl Marx

Model Questions - Part A | Q 4. | Page 15

Identify the other name for Macro Economics.

  • Price Theory

  • Income Theory

  • Market Theory

  • Micro Theory

Model Questions - Part A | Q 5. | Page 15

Macro economics is a study of __________.

  • individuals

  • firms

  • a nation

  • aggregates

Model Questions - Part A | Q 6. | Page 15

Indicate the contribution of J M Keynes to economics.

  • Wealth of Nations

  • General Theory

  • Capital

  • Public Finance

Model Questions - Part A | Q 7. | Page 15

A steady increase in general price level is termed as_________.

  • wholesale price index

  • Business Cycle

  • Inflation

  • National Income

Model Questions - Part A | Q 8. | Page 15

Identify the necessity of Economic policies.

  • to solve the basic problems

  • to overcome the obstacles

  • to achieve growth

  • all the above

Model Questions - Part A | Q 9. | Page 15

Indicate the fundamental economic activities of an economy.

  • Production and Distribution

  • Production and Exchange

  • Production and Consumption

  • Production and Marketing

Model Questions - Part A | Q 10. | Page 15

An economy consists of ______.

  • consumption sector

  • Production sector

  • Government sector

  • All the above

Model Questions - Part A | Q 11. | Page 16

Identify the economic system where only private ownership of production exists.

  • Capitalistic Economy

  • Socialistic Economy

  • Globalisic Economy

  • Mixed Economy

Model Questions - Part A | Q 12. | Page 16

Economic system representing equality in distribution is _________.

  • Capitalism

  • Globalism

  • Mixedism

  • Socialism

Model Questions - Part A | Q 13. | Page 16

Who is referred as the ‘Father of Capitalism’?

  • Adam Smith

  • Karl Marx

  • Thackeray

  • J M Keynes

Model Questions - Part A | Q 14. | Page 16

The country following Capitalism in ________________ .

  • Russia

  • America

  • India

  • China

Model Questions - Part A | Q 15. | Page 16

Identify The Father of Socialism.

  • J M Keynes

  • Karl Marx

  • Adam Smith

  • Samuelson

Model Questions - Part A | Q 16. | Page 16

An economic system where the economic activities of a nation are done both by the private and public together is termed as_____________.

  • Capitalistic Economy

  • Socialistic Economy

  • Globalisic Economy

  • Mixed Economy

Model Questions - Part A | Q 17. | Page 16

Quantity of a commodity accumulated at a point of time is termed as ____________.

  • production

  • stock

  • variable

  • flow

Model Questions - Part A | Q 18. | Page 16

Identify the flow variable.

  • money supply

  • assets

  • income

  • foreign exchange reserves

Model Questions - Part A | Q 19. | Page 16

Identify the sectors of a Two Sector Model.

  • Households and Firms

  • Private and Public

  • Internal and External

  • Firms and Government

Model Questions - Part A | Q 20. | Page 16

The Circular Flow Model represents an open Economy.

  • Two Sector Model

  • Three Sector Model

  • Four Sector Model

  • All the above

Model Questions - Part B [Page 17]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 1 Introduction to Macro EconomicsModel Questions - Part B [Page 17]

Answer the following questions in one or two sentences

Model Questions - Part B | Q 21. | Page 17

Define Macro Economics.

Model Questions - Part B | Q 22. | Page 17

Define the term ‘Inflation’

Model Questions - Part B | Q 23. | Page 17

What is meant by an ‘Economy’?

Model Questions - Part B | Q 24. | Page 17

Classify the economies based on the status of development.

Model Questions - Part B | Q 25. | Page 17

What do you mean by Capitalism?

Model Questions - Part B | Q 26. | Page 17

Define ‘Economic Model’

Model Questions - Part B | Q 27. | Page 17

‘Circular Flow of Income’ - Define.

Model Questions - Part C [Page 17]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 1 Introduction to Macro EconomicsModel Questions - Part C [Page 17]

Answer the following questions in about a paragraph

Model Questions - Part C | Q 28. | Page 17

State the importance of Macro Economics.

Model Questions - Part C | Q 29. | Page 17

Describe the different types of economic systems.

Model Questions - Part C | Q 30. | Page 17

Outline the major merits of capitalism.

Model Questions - Part C | Q 31. | Page 17

Indicate the demerits of socialism.

Model Questions - Part C | Q 32. | Page 17

Enumerate the features of a mixed economy.

Model Questions - Part C | Q 33. | Page 17

Distinguish between Capitalism and Globalism.

Model Questions - Part C | Q 34. | Page 17

Briefly explain the two sector circular flow model.

Model Questions - Part D [Page 17]

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide Chapter 1 Introduction to Macro EconomicsModel Questions - Part D [Page 17]

Answer the following questions in one page

Model Questions - Part D | Q 35. | Page 17

Discuss the scope of Macro Economics.

Model Questions - Part D | Q 36. | Page 17

Illustrate the functioning of an economy based on its activities.

Model Questions - Part D | Q 37. | Page 17

Compare the features of capitalism and socialism.

Model Questions - Part D | Q 38. | Page 17

Compare the feature of Capitalism, Secularism, and Mixedism.

Chapter 1: Introduction to Macro Economics

Model Questions - Part AModel Questions - Part BModel Questions - Part CModel Questions - Part D
Class 12th Economics Answers Guide - Shaalaa.com

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 1 - Introduction to Macro Economics

Tamil Nadu Board Samacheer Kalvi solutions for Class 12th Economics Answers Guide chapter 1 (Introduction to Macro Economics) include all questions with solution and detail explanation. This will clear students doubts about any question and improve application skills while preparing for board exams. The detailed, step-by-step solutions will help you understand the concepts better and clear your confusions, if any. Shaalaa.com has the Tamil Nadu Board of Secondary Education Class 12th Economics Answers Guide solutions in a manner that help students grasp basic concepts better and faster.

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Concepts covered in Class 12th Economics Answers Guide chapter 1 Introduction to Macro Economics are Macro Economics, Meaning of Macro Economics, Importance of Macro Economics, Scope of Macro Economics, Limitations of Macro Economics, Economy and Its Types, Economic Systems, Introduction to Macro Economics, Circular Flow of Income.

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