CBSE Class 12 Economics Board Exam 2020: Most important topics
Learn about the most important topics from which questions are expected in CBSE Class 12 Economics board exam 2020. This paper is scheduled to be held on 13 March 2020 (as per CBSE Class 12 Date Sheet).
CBSE board exams 2020 will start from 15 February 2020. It means very less time is left for the preparation. During this time, selective study plays a very important role in the final preparation.
Considering the importance of the selective study, here, we have pointed out some important topics from the complete CBSE 12th Economics Syllabus. There is a huge probability that questions based on these concepts will be asked in Economics board exam 2020.
Students preparing for this exam are also advised to go through the latest CBSE Class 12 Economics Sample Paper. This paper is recently issued by CBSE. With this Sample Paper, students can easily understand the latest sample paper of CBSE Class 12 Economics board exam 2020.
CBSE Class 12 Economics Board Exam 2020: Most important topics (Part A & B)
Part A- Microeconomics
Chapter 1 : Introduction
- Positive and Normative Economics
- Microeconomics and Macroeconomics
(Both the topics are important and repetitive questions are asked about their difference)
Chapter 2 : Theory of Consumer Behaviour
- Budget Line and Changes in the budget line
- Indifference Curve and Shape of the Indifference Curve
- Utility Function (Numericals)
- Demand Curve and the Law of Demand
- Shifts in the Demand Curve
- Elasticity of Demand
Chapter 3 : Production and Costs
- Total Product, Average Product and Marginal Product (Graph & Numericals)
- Short run and Long run Costs
Chapter 4 : Theory of Firm Under Perfect Competition
- Profit Maximisation
- Supply Curve & Elasticity of Supply (Graphs are important)
Chapter 5 : Market Equilibrium
- Market Equilibrium
- Price Ceiling & Price Flooring
Chapter 6 : Non-competitive Market
- Total, Average and Marginal Revenues
- Monopolistic Competition
Part B - Macroeconomics
Chapter 1 : Introduction
- Basic concepts in macroeconomics: consumption goods, capital goods, final goods
- Difference between microeconomics and macroeconomics?
Chapter 2 : National Income Accounting
- Methods of Calculating National Income
- Expenditure & Income Method
- Gross National Product (GNP), Net National Product (NNP), Gross and Net Domestic
Chapter 3 : Money & Banking
- Money - meaning and supply of money
- Central bank and its functions (example of the Reserve Bank of India): Bank of issue, Govt. Bank, Banker's Bank, Control of Credit through Bank Rate, CRR, SLR, Repo Rate and Reverse Repo Rate, Open Market Operations, Margin requirement.
Chapter 4 : Income Determination
- Aggregate Demand Curve
- Propensity to consume and propensity to save (average and marginal)
- Shift of a Curve
- The Multiplier Mechanism
Chapter 5 : Government Functions & Scope
- Measures of government deficit - revenue deficit, fiscal deficit, primary deficit their meaning.
- revenue receipts and capital receipts
- revenue expenditure and capital expenditure
Chapter 6 : Open Economy Macroeconomics
- Balance of Payments
- Flexible & Floating Exchange Rates
- Determination of exchange rate in a free market.
These are some important topics from which questions are expected in Class 12 Economics board exam 2020. While preparing for Economics board exams, students should give priority to the topics given above.