12th economics Unit-1 guide answer

12th Economics Book Back Question and Answer Tamil Medium & English Medium


  • 12th std samacheer Kalvi NCERT ECNOMICS BOOK BACK Question and answers .
  • 12th economics Katrathukalvi Kalvi guide Answers based on new syllabus.
  • These Study materials help for your Board examination.
  • You can get good marks your board examination.
  • 12th Economics Important 2 mark questions
  • 12th Economics important 3 mark questions
  • 12th economics important 5 Mark questions.

12th Economics Book Back Question and Answer Tamil Medium & English Medium

Chapter 1  Introduction to Macro Economics


  • The subject Economics is classified into two branches, namely, Micro Economics and Macro Economics. Ragnar Frisch, a Norwegian economist and the co-recipient of the first Nobel Prize in Economic Sciences coined the words ‘micro’ meaning small and ‘macro’ meaning large in the year 1933. However, macroeconomics in its modern form, began with John Maynard Keynes and his book “The General Theory of Employment, Interest and Money” published in 1936. Keynes offered an explanation for fallout from the Great Depression, when goods remained unsold and workers unemployed. Hence, Keynes is regarded as the ‘Father of Modern Macro Economics’. 

Multiple Choice Questions

1. The branches of the subject Economics is 

a) Wealth and welfare

b) production and consumption

c) Demand and supply

d) micro and macro

2. Who coined the word ‘Macro’?

a) Adam Smith

b) J M Keynes

c) Ragnar Frisch

d) Karl Marx

3. Who is regarded as Father of Modern Macro Economics?

a) Adam Smith

b) J M Keynes

c) Ragnar Frisch

d) Karl Marx 

4. Identify the other name for Macro Economics.

a) Price Theory

b) Income Theory

c) Market Theory

d) Micro Theory

5. Macro economics is a study of 


a) individuals

b) firms

c) a nation

d) aggregates

6. Indicate the contribution of 

J M Keynes to economics.

a) Wealth of Nations

b) General Theory

c) Capital

d) Public Finance

7. A steady increase in general price level 

is termed as_____________.

a) wholesale price index

b) Business Cycle

c) Inflation

d) National Income

8. Identify the necessity of Economic 


a) to solve the basic problems

b) to overcome the obstacles

c) to achieve growth

d) all the above

9. Indicate the fundamental economic 

activities of an economy.

a) Production and Distribution

b) Production and Exchange

c) Production and Consumption

d) Production and Marketing

10. An economy consists of

a) consumption sector

b) Production sector

c) Government sector

d) All the above

11. Identify the economic system where 

only private ownership of production 


a) Capitalistic Economy

b) Socialistic Economy

c) Globalisic Economy

d) Mixed Economy

12. Economic system representing equality 

in distribution is _________.

a) Capitalism

b) Globalism

c) Mixedism

d) Socialism

13. Who is referred as ‘Father of 


a) Adam Smith

b) Karl Marx

c) Thackeray

d) J M Keynes

14. The country following Capitalism is 

________________ .

a) Russia

b) America

c) India

d) China

15. Identify The Father of Socialism.

a) J M Keynes

b) Karl Marx

c) Adam Smith

d) Samuelson

16. An economic system where the 

economic activities of a nation are 

done both by the private and public 

together is termed as_____________. 

a) Capitalistic Economy

b) Socialistic Economy

c) Globalisic Economy

d) Mixed Economy

17. Quantity of a commodity accumulated 

at a point of time is termed as 



b) stock

c) variable

d) flow

18. Identify the flow variable. 

a) money supply

b) assests

c) income

d) foreign exchange reserves

19. Identify the sectors of a Two Sector 


a) Households and Firms

b) Private and Public 

c) Internal and External

d) Firms and Government

20. The Circular Flow Model that 

represents an open Economy.

a) Two Sector Model

b) Three Sector Model

c) Four Sector Model

d) All the above

12th economics 2 marks Part - B

Answer the following questions in one or two sentences 

21. Define Macro Economics.

22. Define the term ‘Inflation’.

23. What is meant by an ‘Economy’?

24. Classify the economies based on status of development.

25. What do you mean by Capitalism?

26. Define ‘Economic Model’.

27. ‘Circular Flow of Income’ - Define.

12th economics 3 marks Part - C

Answer the following questions in about a paragraph

28. State the importance of Macro Economics.

29. Describe the different types of economic systems.

30. Outline the major merits of capitalism.

31. Indicate the demerits of socialism.

32. Enumerate the features of mixed economy.

33. Distinguish between Capitalism and Globalism.

34. Briefly explain the two sector circular flow model.

12th economics 5 marks Part - D

Answer the following questions in one page

35. Discuss the scope of Macro Economics.

36. Illustrate the functioning of an economy based on its activities.

37. Compare the features of capitalism and socialism.

38. Compare the feature among Capitalism, Secularism and Mixedism


கல்விகவி வலைப்பூ நண்பர்களே..

வாசகர்களின் கருத்து சுதந்திரத்தை வரவேற்கும் இந்தப்பகுதியை ஆரோக்கியமாக பயன்படுத்திக் கொள்ள அன்புடன் வேண்டுகிறோம். உங்கள் கருத்தையும் ,study Mateials தேவையை சுதந்திரமாக பகிரலாம். நண்பர்களுக்கு Share செய்யலாம்.


1. இங்கு பதிவாகும் கருத்துக்கள் வாசகர்களின் சொந்த கருத்துக்களே. kalvikavi வலைப்பக்கங்கள்பூ இதற்கு எவ்வகையிலும் பொறுப்பல்ல.

2. கருத்தை நிராகரிக்கவோ, குறைக்கவோ, தணிக்கை செய்யவோ கல்விகவி குழுவுக்கு முழு உரிமை உண்டு.

3. தனிமனித தாக்குதல்கள், நாகரிகமற்ற வார்த்தைகள், படைப்புக்கு பொருத்தமில்லாத கருத்துகள் நீக்கப்படும்.
4. தங்களின் பெயர் மற்றும் சரியான மின்னஞ்சல் முகவரியை பயன்படுத்தி கருத்தை பதிவிட அன்புடன் வேண்டுகிறோம்.
-அன்புடன் KALVIAVI வலைப்பூ ( Join our telegram & WhatsApp Get instant Study Materials & கல்விச்செய்திகள் )

Previous Post Next Post




Kalvi Arts Youtube & Kalvi kavi.com

மாணவர்களுக்கு தேவையான Study Materials, Important Questions,Model Question Papers ,தினந்தோறும் கல்விச்செய்திகள் இங்கே கிடைக்கும்