12th Ecnomics Important 2&3 Mark Questions

 12th Economics Important 2 Mark Questions

  • 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 Important 3 Mark Questions 
  • 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.


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